Guoabong Stock：Global Fund continues to buy Indonesian stocks

As the Indonesian people protest the amendment of the election law, on the 22nd, the Indonesian benchmark stock index fell 1%.However, this did not change the investor's confidence in the Indonesian stock market.Guoabong Stock

According to data from the Ministry of Finance of the country, the Global Fund purchased $ 98.6 million in Indonesian bonds on August 20, which was bought for the ninth consecutive day.According to the exchange data, the global fund net purchase was $ 116.2 million on August 21, which was bought for the 11th consecutive day.As of the closing of last Friday (August 23), the Jakarta Composite Index rose 56.20 points, an increase of 0.75%, and closed at 7544.88 points.

Since August, Indonesia's local currency has continued to strengthen recently, an appreciation of about 5.34%from the end of July 2024.Compared with the appreciation of currencies such as Thai baht, yen, the Philippines, and the Korean won, the appreciation of the Indonesian Shield is more significant.The rise of the Indonesian shield to the US dollar exchange rate is inseparable from the Indonesian foreign exchange reserves.Indonesia's governor Perry Vaggio said that the Indonesian shield was strong due to the intervention measures adopted by the Indonesian central bank to maintain the stability of the exchange rate and the strong economic fundamental impact of Indonesia.New Delhi Wealth Management

In addition, the Central Bank of Indonesia decided on the 21st to maintain the benchmark interest rate at 6.25%, the highest level since the launch of the benchmark in 2016.At the same time, the deposit interest rate remained at 5.5%and the loan interest rate was maintained at 7%.The decision complied with market expectations at a meeting that the central bank of the country had held from April 23rd to 24th decided to increase the benchmark interest rate by 25 basis points to 6.25%.According to statistics from the "Financial Times", since October 2023, the Indonesian central bank has maintained the benchmark interest rate at 6%for five consecutive months.

On the 21st, after the announcement of the interest rate decision, the President of the Indonesian central bank Perry Vage said that this decision to maintain a benchmark interest rate of 6.25%conforms to the stable commitment of the Central Bank of Indonesia and meets the stable monetary policyLucknow Stock. It aims to strengthen it to strengthenThe Indonesian Shield also ensures that inflation is maintained.In the future, in the context of capital return, the Indonesian shield is expected to further strengthen.Jaipur Stock

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