Indonesia's Benchmark Stock Index Down 0.04% due to Profit Taking
On the last day of the week (07/03), Indonesia's benchmark stock index (Jakarta Composite Index or IHSG) fell 0.04 percent to 4,685.89 points as market participants engaged in profit taking (cashing in on the recent strong performance of the IHSG) amid resurging concerns about the situation in Ukraine. On the other hand, losses were limited as investors are upbeat about the improved outlook for the global economy. US data were good as the number of people who filed for unemployment benefits fell to the lowest level in three months.
Market participants were also content to see that the European Central Bank (ECB) maintained its benchmark interest rate at a record low of 0.25 percent on Thursday (06/03) while raising its outlook for economic growth. Although the economic recovery is fragile, the ECB sees gradual improvement in the Eurozone.
Meanwhile, the Indonesian rupiah exchange rate continued its recent appreciating trend.
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