IHSG plunges following balance of trade deficit

IHSG plunges following balance of trade deficit

Photo File: A stock worker walks in front of the monitor at the Indonesia Stock Exchange (IDX), Jakarta, Thursday (January 2, 2020). ANTARA FOTO/Hafidz Mubarak A/pras/gtm

Jakarta (ANTARA) - The Indonesian composite index (IHSG) of the Indonesia Stock Exchange (IDX), Jakarta, closed lower, at 42.04 points or 0.66 percent, to 6,283.37 on Wednesday, following a deficit of the balance of trade by US$300 million for the December 2019 period and US$3.2 billion throughout last year.

In the meantime, the index of the 45 most liquid stocks, or LQ45, plunged by 7.25 points, or 0.7 percent, to 1,025.07.

"After a release of Indonesia's balance of trade (by Central Statistics Agency), IHSG dropped due to profit-taking launched by domestic investors," Panin Securities analyst, William Hartanto, said.

Before today's closing, 504,545 transactions worth Rp7.76 trillion were recorded on Indonesia's stock market. Meanwhile, the market's net foreign buy was recorded at Rp79.24 billion.

Despite the drop, IHSG was seen higher at today's opening at 0.76 points, or 0.01 percent, to 6,326.17.

On Wednesday's stock trading, regional markets that plunged this evening comprised Nikkei at 108.6 points or 0.45 percent to 23,916.6; Hang Seng Index weakened by 111.5 points or 0.39 percent to 28,773.6, and the Straits Times Index dropped at 13.56 points or 0.41 percent to 3,256.98.

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