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April 16, 2025 | 08:41 pm
TEMPO.CO, Jakarta - The performance of today's trade, Wednesday, April 16, 2025, shows a negative record. The Composite Stock Price Index (IHSG) in afternoon trade closed down by 41.63 points or 0.65 percent to 6,400.05.
The 45 leading stocks or LQ45 index dropped by 5.96 points or 0.82 percent to 717.25.
"The market seems to be overshadowed by the uncertainty of the negotiation process between the U.S. and China regarding trade tariffs related to the positions of both countries which insist on their respective positions regarding the trade war," said Associate Director Pilarmas Investindo Sekuritas Maximilianus Nicodemus or Nico in Jakarta, Wednesday, as quoted by Antara.
Market players assess that the negotiation between the United States and China could potentially be difficult; the market is worried that the stubborn attitudes of both countries could hinder the negotiation.
U.S. President Donald Trump urged China to contact him to start negotiations on resolving the escalating trade dispute between the two countries.
White House Press Secretary Karoline Leavitt said the ball is now in China's court. China needs to make a deal with the U.S., but the U.S. doesn't have to make a deal with them.
On the domestic front, the action plan to be taken by the Social Security Administrator for Employment to increase the investment portfolio in the capital market by 20 percent certainly provides optimism for market players towards the domestic capital market.
In addition, several issuers are conducting a buyback action to strengthen investor confidence, as well as to adapt to market conditions in reducing pressure, which can support the domestic financial market.
Meanwhile, the rupiah exchange rate in this afternoon's trade, Wednesday, April 16, 2025, closed down by 10 points to the level of Rp16,837 per US dollar. In next Monday's trade, the rupiah is predicted to close down in the range of Rp16,830 - Rp16,890 per US dollar.
"In this afternoon's trade, the rupiah closed down by 10 points. Previously, it had weakened by 30 points," said currency observer Ibrahim Assuaibi in a written statement on Wednesday, April 16, 2025.
Ibrahim predicted that Indonesia's economic growth in the first quarter of 2025 would slow to around 4.9 percent to 5 percent. This projection is slower than the economic growth in the fourth quarter of 2024, which reached 5.02 percent.
"This year's economic growth is estimated to be only around 4.8 percent to 5 percent, lower than the target in the 2025 macroeconomic assumptions of 5.2 percent and also the target in the National Medium-Term Development Plan (RPJMN) for 2025-2029, which targets economic growth this year to grow by 5.3 percent," said Ibrahim.
Antara contributed to the writing of this article.
Editor's Choice: Rupiah Weakens to Rp16,837 per USD, Projected to Slip Further on Monday
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