Indonesian Financial Markets Diverge: Rupiah Weakens, IHSG Opens Strong

JAKARTA - The Indonesian financial market moved differently at the opening of trading on Tuesday, September 14. The rupiah weakened slightly against the US dollar, while the Composite Stock Price Index or IHSG moved stronger. The rupiah exchange rate opened at Rp17,670 per US dollar. The position weakened 1 point or 0.01 percent compared to the previous closing at Rp17,669 per US dollar. At the same time, the Indonesia Stock Exchange's JCI opened up 10.08 points or 0.15 percent to 6,544.77. The strengthening was also seen in the group of leading stocks. The LQ45 index rose 1.20 points or 0.18 percent to 660.23. Movements at the beginning of trading showed that the rupiah was still under pressure against the US dollar, while the stock market started trading in a positive zone. In the previous day's trading, the rupiah closed at Rp17,669 per US dollar. Meanwhile, at the opening of Tuesday, September 14, the weakening was still limited by one point. The increase in the JCI by 0.15 percent and the LQ45 by 0.18 percent showed that large-cap stocks also supported the index's strengthening at the beginning of trading. The next move will be determined by transactions throughout Tuesday's trading session after the opening showed a different direction between the foreign exchange market and the stock market. Source: VOI English