JABAR EKSPRES –The Indonesia Stock Exchange (IDX) Composite Stock Price Index (IHSG) on Wednesday is expected to move mixed ahead of the determination of the Federal Reserve’s benchmark interest rate policy at its meeting in early May 2023.
IHSG opened down 18.65 points or 0.27 percent to 6,893.65. Meanwhile, the group of 45 leading stocks or the LQ45 Index fell 3.26 points or 0.34 percent to 963.84.
“IHSG today is predicted to move mixed in the range of 6,776 to 6,865,” said Ajaib Sekuritas Financial Expert, Ratih Mustikoningsih, in Jakarta, Wednesday (26/4).
Bank Indonesia (BI) again maintained the BI7DRRR interest rate at 5.75 percent at a meeting on April 18, 2023 or before the Joint Leave Holiday in commemoration of Eid al-Fitri 1444 Hijri.
READ MORE : Despite Crash, Rea Says He’s Confident for WSBK Spain
During the meeting, BI also held the lending facility rate at 6.5 percent and the deposit facility rate at 5 percent.
Domestic banking credit growth reached 9.93 percent year on year (yoy) in March 2023, with Islamic financing recorded positively at 19.43 percent yoy.
While in the MSME segment, credit financing also continued by reaching 8.63 percent yoy, which was driven by the realization of the distribution of People’s Business Credit (KUR) of IDR 30.31 trillion in the period ending March 2023.
From abroad, the United Kingdom recorded an inflation rate in March 2023 of 10.1 percent yoy, or lower than the previous period which was recorded at 10.4 percent yoy, however, above the consensus of 9.8 percent yoy.
The Queen Elizabeth’s core inflation was recorded at 6.2 percent, or the same as the previous period.
Meanwhile, South Korea’s Gross Domestic Product (GDP) in the first quarter of 2023 was recorded to grow 0.8 percent yoy, or lower than the consensus at 0.9 percent yoy.
Asian regional stock markets this morning include the Nikkei index weakened 128.29 points or 0.45 percent to 28,491.80, the Hang Seng Index strengthened 33.22 points or 0.17 percent to 19,651.10, the Shanghai index weakened 3.61 points or 0.11 percent to 3,261.26, and the Straits Times index weakened 5.64 points or 0.17 percent to 3,290.92.
