IHSG weakens at Thursday's opening on Asian markets' correction

IHSG weakens at Thursday's opening on Asian markets' correction

Illustration : Some employees and business agents stay close to the monitor screen showing the movement of the composite share price index (ANTARA FOTO/Sigid Kurniawan/kye/18./)

Jakarta (ANTARA) - The composite share price index (IHSG) of the Indonesia Stock Exchange (BEI) opened lower on Thursday morning, as the Asian regional markets were on correction mode.
The IHSG weakened 9.56 points, or 0.15 percent, to 6,385.06. The index of the 45 most liquid stocks plunged 2.5 points, or 0.24 percent, to 1,021.47.

Valbury Sekuritas chief researcher Alfiansyah has forecast that the IHSG would continue to weaken on Thursday, replicating its performance in the previous trading.

"Both internal and external market sentiments will not be sufficient to boost the market this time. To make matters worse, the global stock markets, especially the US stock exchange, weakened on Wednesday. This will be one of the factors causal to the IHSG's continued weakening during today's trading," he pointed out.

The index was traded with limited volatility on Wednesday (July 17, 2019), as investors awaited the outcome of a meeting of the Bank Indonesia's Board of Governors on Thursday to decide on the Seven-Day Reverse Repo Rate, or 7DRRR.

The BI benchmark rate is expected to fall 25 basis points to 5.75 percent, as the US Federal Reserve (The Fed) signals a dovish outlook that will give BI more room to boost the domestic economy.

Asian regional markets that weakened on Thursday morning comprised Nikkei, falling 302.41 points, or 1.41 percent, to 21,166.77; the Hang Seng tumbling 174.88 points, or 0.61 percent, to 28,418.29; and the Straits Times Index weakening 9.40 points, or 0.28 percent, to 3,355.39. Related news: IHSG opens higher prior to announcement of MK's ruling

Related news: IHSG strengthens as tensions allay over US-China trade war