IHSG Plummets to Pandemic Level 2021, Rupiah Weakens
The Composite Stock Price Index (IHSG) fell by 164.66 points (-2.54%) to 6,320 on Friday (28/02), marking a total decline of 6.63% over the week. This weakening was triggered by the plunge in the exchange rate of the Rupiah to Rp16,552 per USD and negative sentiment from Morgan Stanley.
Key Points:
Sectors that fell: Raw materials (-2.01%), financials (-1.65%), property (-1.77%).
Sectors that rose: Energy (+0.22%) and healthcare (+0.1%).
Impact of MSCI: Morgan Stanley lowered Indonesia's stock weight from 2.2% to 1.5%, effective Monday (03/03), triggering the potential for further sell-offs.
This decline brings IHSG back to the level during the 2021 pandemic, indicating a pressured market sentiment.
SHAM INFO BRIEF
