Jakarta. The Composite Stock Price Index at the Indonesia Stock Exchange (IDX) for the week of March 18-22, saw an increase of 22 points (0.30 percent), reaching 7,350 from 7,328 at the close of the previous week. Concurrently, market capitalization also experienced growth.

According to data from the IDX, "Market capitalization increased by Rp 56 trillion (0.48 percent) from Rp 11,692 trillion ($739.3 billion) the previous week to Rp 11,748 trillion at the close of this week."

Meanwhile, trading frequency declined by 7.55 percent to 1,139 transactions from 1,233 transactions the previous week. Daily transaction volume weakened by 11.67 percent to 16.50 billion shares from 18.68 billion shares in the previous week.

Daily stock transaction values plummeted by 40.62 percent to Rp 10.17 trillion from Rp 17.12 trillion the previous week.

Foreign investors on Friday (22/3/2024) recorded a net buy value of Rp 372.9 billion. Throughout 2024, foreign investors have recorded a net buy value of Rp 28.25 trillion.

Meanwhile, on Wall Street, US stocks closed their best of the year so far with a quiet finish on Friday, remaining near their records.

The S&P 500 slipped 7.35 points, or 0.1 percent, from its all-time high to close at 5,234.18. The Dow Jones Industrial Average fell 305.47, or 0.8 percent, to 39,475.90, and the Nasdaq composite rose 26.98, or 0.2 percent, to 16,428.82 to add to its record.

Earlier this week, the Federal Reserve indicated that it still may deliver three cuts to interest rates this year, as long as inflation keeps cooling. That calmed worries on Wall Street that several hotter-than-expected inflation reports this year could force it to take rate cuts off the table.

The Federal Reserve’s main interest rate is at its highest level since 2001, and Wall Street is hoping for cuts to begin in June. Such reductions would relieve pressure on the economy and financial system.

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