Indonesia Market Week in Review
Indonesian stocks retreated in Monday trade as investors took profit from gains in the previous week while continue to monitor earnings, economic data and covid situations.
Jakarta composite declined 75.975 points (-1.225%) to 6,127.456 with LQ45 fell 1.47% to 831.748. There were 32.053 billion shares traded worth of Rp20.367 trillion, including transaction of Rp1.452 trillion in negotiation market. Foreign investors sold a net Rp744.62 billion in regular market. 157 shares rose while 357 declined and 142 unchanged.
BABP, AGRO, EMTK were among the main laggers. Transaction value of BUKA reached Rp4.46 trillion, a significant addition to market value. Foreign investors dominated selling activities.
President Jokowi is due to discuss on Monday the extension of coronavirus restrictions in the country as health ministry data showed infections have plunged in the capital Jakarta but are surging in some regional areas.
Dollar held near four-month highs after an upbeat U.S. jobs report lifted bond yields. According to JISDOR released Monday afternoon, Rupiah slipped 9 points (-0.06%) to 14,378 while spot rate slipped 10 points (-0.07%) at 14,360.
Shares in Asia were mixed with indexes in Hong Kong and Mainland China advanced nearly 1% while markets in Japan and Singapore are closed for public holidays.
On the data front, China’s consumer price index rose by 1% in July from a year earlier, compared with a 1.1% rise in June. The official producer price index rose by 9% July from a year earlier, compared with 8.8% in June.
German exports (seasonally and calendar adjusted) increased by 1.3% month-on-month in June, from 0.4% in April making it the fourteenth consecutive increase. On the other hand, imports increased by 0.6% MoM, from 3.47% MoM in May, widening the trade surplus to €22.5 billion. On the year, exports were up by more than 23% and have now returned to pre-crisis levels.
U.S. Bureau of Labor Statistics reported Friday that the US economy added 943,000 jobs in July and the unemployment rate fell to 5.4%, a new low of the pandemic era. It was the biggest job gain since August last year, when more than 1 million positions were added back, and more than the 870,000 economists had expected. The June jobs gains was revised up as well, to 938,000 positions added, showing the recovery’s strong pace over the summer.
Gold prices dropped to a more than four-month low in the international market on Monday. The analysts feared Federal Reserve would raises rates quicker than expected as better expected U.S. jobs data, could bring forth the timing of the Federal Reserve policy tightening.
Meanwhile, Bitcoin is attempting to stage its next comeback as it came close to $US50,000 for the first time since May as the broader cryptocurrency market also looked to claw back massive losses.
Investors will receive inflation data for U.S. on Wednesday and for the U.K. on Thursday.
Oil prices slumped on Monday, extending last week’s steep losses on the back of a rising U.S. dollar and concerns that new pandemic curbs in Asia, especially China, may set back the global recovery in fuel demand. Brent crude tumbled $2.79 (-3.95%) to $67.91 per barrel and U.S WTI crude slumped $2.88 (-4.22%) at $65.40 barrel.
Indonesia Market Week in Review
STOXX 50.. 4,178.48 (+0.09%)
CAC 40.. 6,820.87 (+0.06%)
DAX.. 15,756.80 (-0.03%)
FTSE 100.. 7,104.57 (-0.26%)
HSI.. 26,283.40 (+0.40%)
SHCOMP.. 3,494.64 (+1.05%)
TAIEX.. 17,485.15 (-0.23%)
KOSPI.. 3,260.42 (-0.30%)
S&P/ASX 200.. 7,538.41 (+0.00%)
SENSEX.. 54,131.75 (-0.27%)
DOW FUT.. 35,005.00 (-0.25%)
S&P FUT.. 4,421.00 (-0.18%)
NASDAQ FUT.. 15,093.25 (-0.01%)
For previous market review : Market Review (5) 05.08.2021
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