Jakarta Composite Index Falls 0.78% on Weak US Manufacturing Data
An analysis of today's (04/02) performance of Indonesia's benchmark stock index (the Jakarta Composite Index, abbreviated IHSG) is more or less the same as yesterday's analysis. The IHSG declined 0.78 percent to 4,352.26 points as market participants engaged in profit taking amid concern about weakening stock indices in the USA and Europe after seeing the US Manufacturing PMI fall to 53.7 in January 2014, while the index of US national factory activity fell to 51.3, its lowest level since May 2013.
The weakening of the IHSG was somewhat limited because the Indonesian rupiah exchange rate (the Jakarta Interbank Spot Dollar Rate or JISDOR) slightly appreciated (0.02 percent) to IDR 12,248 per US dollar on Tuesday (04/02).
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