JABAR EKSPRES – The Composite Stock Price Index (JCI) of the Indonesia Stock Exchange (IDX) on Tuesday (5/16) has the opportunity to strengthen along with the surplus of Indonesia’s trade balance for the April 2023 period.
JCI opened up 7.29 points or 0.11 percent to 6,719.03. Meanwhile, the group of 45 leading stocks or the LQ45 index rose 1.18 points or 0.13 percent to 936.18.
“Cumulatively, the value of Indonesia’s exports from January to April 2023 reached 86.35 billion United States dollars (US), down 7.61 percent year on year (yoy). We see that this condition has the potential to trigger continued sector rotation to consumer-related sectors,” said the Lotus Andalan Sekuritas Research Team in its study.
The Central Statistics Agency (BPS) reported a trade balance surplus for April 2023 amounting to US$3.94 billion, in which the export value reached US$19.29 billion or decreased by 17.62 percent (yoy), and the import value reached US$15.35 billion or decreased by 25.45 percent (yoy).
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From commodities, coal prices increased by more than two percent as China plans to close coal production at 32 sites in Mongolia.
Meanwhile, the S&P 500 and Dow Jones indices ended moderately higher, after manufacturing data raised concerns about a slowdown in the US economy, which could help lower inflation amid ongoing debt ceiling negotiations.
On the other hand, some Fed officials indicated that they expect interest rates to remain high or contrary to market expectations for a rate cut before the end of the year.
Asian regional stock markets on Tuesday morning included the Nikkei index gained 223.69 points or 0.76 percent to 29,850.00, the Hang Seng index gained 81.95 points or 0.41 percent to 20,053.09, the Shanghai index weakened 5.97 points or 0.18 percent to 3,304.77, and the Straits Times index weakened 0.48 points or 0.01 percent to 3,215.20.
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