Indonesia market review as of 21 Jul
Indonesia’s stocks climbed in Wednesday morning after the government prepared an option for easing restrictions on public activities.
Jakarta composite rose 20.389 points (+0.339%) to 6,037.783 with LQ45 increased 0.62% to 843.146. There were 11.698 billion shares traded worth of Rp6.843 trillion, including transaction of Rp243 billion in negotiation market. Foreign investors purchased a net Rp158.24 billion in regular market. 270 shares rose while 208 declined and 152 unchanged.
Shares of state owned enterprises led this morning rally. WSKT jumped 10% in morning trade as the company has reached a Rp19.3 trillion loan restructuring agreement with five state-owned banks to alleviate the debt of Indonesia’s largest state-owned construction company. Besides, the company will receive fresh funds of Rp7.9 trillion from the government in the second semester and another Rp3 trillion in 2022.
Meanwhile, KRAS soared 15% after company reported 601.3% growth in net profit during first half. Sales increased 90.9% with exports grew 15 times. This company growth is a result of company efficiency program that has been ongoing since 2020.
President Joko Widodo has officially extended the social activity restriction implementation until July 25. The restrictions will be relaxed on July 26 if the number of cases is starting to reduce.
Indonesian government has conducted state securities auction on Wednesday with official results will be released later in the day.
Indonesian investors are also prepared for Bank Indonesia rates decision due Thursday. Amidst a rising Covid count, the central bank is expected to extend its pause on rates.
According to JISDOR released Monday afternoon, Rupiah slipped 7 points (-0.05%) to at 14,524 while spot rate retreated 32 points (-0.22%) at 14,547.
Asian stocks were mixed on Wednesday following gains in Wall Street, recovering much of the previous day’s loss.
On the data front, Japan’s exports rose 48.6% in June as compared with a year earlier, according to data released Wednesday by the country’s Ministry of Finance. That was higher than a 46.2% increase expected by economists in a Reuters poll.
Elsewhere, Australia’s retail sales fell 1.8% in June as compared with the previous month on a seasonally adjusted basis, preliminary retail trade data from the country’s Bureau of Statistics showed Wednesday.
Investors have also been encouraged by quarterly results from U.S. companies showing many are increasing profits.
Gold prices slipped on Wednesday, as a buoyant dollar and a rebound in U.S. Treasury yields stemmed inflows into the safe-haven bullion spurred by fears the delta coronavirus variant may stall a global recovery. In the meantime, most major cryptocurrencies have slid in the past 24 hours, with bitcoin trading below $30,000 for the first time in four weeks.
Oil prices extended declines spurred by demand destruction fears amid rising COVID-19 cases. Brent crude fell 45 cents (-0.45%) at $68.90 per barrel and U.S WTI crude fell 44 cents (-0.65%) at $66.76 barrel.
Indonesia Market Week in Review
NIKKEI.. 27,537.29 (+0.54%)
HSI.. 27,157.11 (-0.37%)
SHCOMP.. 3,558.11 (+0.60%)
TAIEX.. 17,471.88 (-0.32%)
KOSPI.. 3,226.34 (-0.20%)
S&P/ASX 200.. 7,342.00 (+1.24%)
SENSEX.. 52,198.51 (-0.68%)
STI.. 3,110.13 (-0.03%)
DOW FUT.. 34,394.00 (-0.02%)
S&P FUT.. 4,313.00 (-0.06%)
NASDAQ FUT.. 14,696.75 (-0.18%)
For the latest market update : https://originaturuang.com/category/ulasan-pasar-modal/
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