The Composite Stock Price Index (IHSG) managed to soar by 1% in the second session of trading on Friday (22/11/2024), amidst the still varying global market sentiments today. As of 14:21 WIB, the IHSG surged by 1.03% to 7,214.81. The IHSG returned to the psychological level of 7,200 in the second session today.
The index transaction value in the second session today reach around Rp 6.2 trillion with a transaction volume of 16 billion shares and trades 673,009 times.
BI also reported a decrease in the current account deficit. In the third quarter of 2024, the current account recorded a deficit of US$ 2.2 billion (0.6% of GDP), lower than the deficit of US$ 3.2 billion (0.9% of GDP) in the second quarter of 2024.
The performance of the current account balance is supported by a continued surplus in the non-oil and gas trade balance, bolstered by the growth of non-oil and gas exports in line with rising commodity prices, amid higher imports corresponding to increased domestic economic activity.
The deficit in the services balance narrowed, driven by an increase in the surplus of travel services in line with the rise in the number of foreign tourist visits. The deficit in the primary income balance also decreased, influenced by lower payments of investment returns to non-resident investors.
In addition, the increase in the surplus of the secondary income balance driven by remittance receipts also supported the performance of the current account balance.
Meanwhile, from the US, ahead of the weekend, data on manufacturing activity as depicted by the Purchasing Manager’s Index (PMI) for the period of November 2024 will be released.
Previously, the US Global S&P Flash Manufacturing PMI was revised higher to 48.5 in October 2024 from an initial 47.8 and after a 15-month low of 47.3 in September.
This indicates that the US manufacturing sector is still in contraction territory, but there are some signs of a slowdown easing.
Inflationary pressures are easing, with input costs rising at the slowest pace in nearly a year and output price inflation also subsiding.
Meanwhile, supplier delivery times were extended for the first time in three months amid delays widely linked to storm-related disruptions.
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