Unable to Continue Rebound; Indonesia's Stock Index Falls 0.73%
Indonesia's benchmark stock index (IHSG) was not able to continue its rebound. On Friday (15/11), the IHSG fell 0.73 percent to 4,335.45 points amid widespread profit taking. Foreign investors recorded net selling of IDR 193 billion (USD $16.9 million) on today's trading day. Moreover, investors are concerned about the impact of the higher interest rate of the central bank (7.50 percent), particularly on the property and banking sectors in the fourth quarter of 2013.
The Indonesian rupiah exchange rate fell 0.13 percent against the US dollar as investors remained concerned about the country's trade deficit, high inflation and slowing economic growth. The statement of Janet Yellen (possibly the next Chair of the Federal Reserve), who said to support the continuation of the Fed's quantitative easing program for as long as needed, succeeded in limiting the decline of the rupiah on Friday (15/11). As a result of this statement global shares climbed on Thursday and Friday.
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