IHSG weakens over weekend on trade deficit

IHSG weakens over weekend on trade deficit

Indonesia Stock Exchange (BEI) (ANTARA FOTO/Puspa Perwitasari)

Jakarta, (ANTARA News) - The Jakarta composite index (IHSG) closed lower over the weekend on the country`s trade deficit of US$1.16 billion in January 2019.

The index of the Indonesian Stock Exchange (BEI) fell 30.93 points, or 0.48 percent, to 6,389.08. The index of 45 most liquid stocks dropped 5.8 points, or 0.58 percent, to 994.97.

"The index today closed in the negative zone, fueled by the country`s trade deficit in January which is higher than the market`s expectation," Indopremier Sekuritas analyst Mino said here on Friday.

The Central Statistics Agency (BPS) announced earlier the country suffered a trade deficit of $1.16 billion in January 2019, well above analysts` forecast of $0.97 billion.

Shortly after the IHSG opened higher, it nosedived into the red zone along with the BPS`s announcement of the trade balance in January 2019 and continued to weaken until the closing of the stock exchange.

The closure of the IHSG was accompanied by investors` net foreign selling of Rp286.75 billion.

Trade frequency was recorded with 453,154 transactions and 12.17 billion shares worth Rp8.69 trillion changing hands on Friday. There were 130 gainers as against 284 decliners and 123 shares unchanged.

Regional markets such as Nikkei index weakened 239.08 points, or 1.13 percent, to 20,900.63; Hang Seng fell 531.21 points, or 1.87 percent, to 27,900.84; and Strait Times was down 13.42 points, or 0.41 percent, to 3,239.74.

Reporting by Citro Atmoko
Editing by Suharto