Jakarta, hitclubapk3 Indonesia
—
Price Index
Shares
Combined (
IHSG
) closed trading Wednesday (26/11) by setting the highest record in history, aka
all time high
(ATH) at level 8,602, up 0.94 percent.
This increase was mainly driven by the strong flow of foreign funds and strengthening expectations of a cut in global interest rates, which according to observers was the main trigger for the stock index to touch the ATH level this afternoon.
VP Equity Retail Kiwoom Sekuritas Indonesia Oktavianus Audi said the strong capital inflow (
inflow
) foreigners are the main factor.He said the inflow of funds reached IDR 5.76 trillion in the last week.
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“IHSG strengthened to a new ATH level of 8,602 with
inflow
“foreigners reached IDR 5.76 trillion in a week,” he told hitclubapk3Indonesia.com, Wednesday (26/11).
He explained that the biggest encouragement came from the end of the effective period
rebalancing
MSCI index as well as increasing chances of a US interest rate cut.
“Probability of FFR trimming (
Fed Funds Rat
e) of 25 bps is now in the range of 75 percent and is supporting the market,” said Oktavianus.
Oktavianus added that conglomerate issuers and interest rate sensitive stocks such as finance, technology, property and industry also helped maintain the index’s upward momentum.
He sees the opportunity for the JCI to reach the 8,700-8,900 range at the end of 2025 in a moderate scenario.
Likewise, capital market observer Herditya Wicaksana assesses that global sentiment is still dominating today’s movements.He said the potential for the Fed’s interest rate cut was getting stronger.
“The probability of the Fed cutting interest rates is already around 80 percent,” he said.
Apart from that, Herditya said that strengthening conglomerate issuers also boosted the JCI.
“Index movements are still driven by strengthening conglomerate issuers,” he said.
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