Indonesia Weekly Market Update
Indonesian stocks soared on Monday amid gains in global markets on dovish Powell stance and optimism on economic reopening in the country.
Jakarta composite rose 103.536 points (+1.714%) to 6,144.902 while LQ45 jumped 2.51% to 866.949. There were 20.919 billion shares traded worth of Rp11.054 trillion, including transaction of Rp1.372 trillion in negotiation market. Foreign investors purchased a net Rp629.01 billion in regular market. 316 shares rose while 197 declined and 132 unchanged.
On earnings, WEGE managed produce a net profit of Rp100.92 billion in the first half of this year, increased by 4.46% from the realization of net profit in the first semester of 2020, despite a decline in company’s revenue by 21.63%.
AGII recorded a net profit of Rp94.89 billion in the January-June 2021 period. This realization rose 468.1% from net profit in the same period the previous year, mainly supported by the sales of gas products.
Children in the Indonesian capital Jakarta have returned to school after 18 months of studying from home, as the country’s government begins to ease restrictions in areas of the country hard-hit by COVID-19. Meanwhile, the continuation of PPKM is planned to be announced directly by the President of the Republic of Indonesia Joko Widodo tonight.
During last week, index retreated 10.594 points (-0.18%) as global markets were hit by uncertainty surrounding tapering plan.
According to JISDOR released Friday afternoon, Rupiah retreated 8 points (-0.06%) to 14,431 while spot rate climbed 45 cents (+0.31%) to 14,370.
Asian and European stocks edged higher after U.S. Federal Reserve Chairman Jerome Powell on Friday didn’t give a specific timeline for scaling back stimulus and signaled that it be withdrawn cautiously and gradually.
U.K. markets are closed for a public holiday.
Meanwhile in China, The focus remains on regulatory broadside as the country is reportedly looking at new rules that would restrict domestic internet firms from going public in the U.S., according to the Wall Street Journal.
Elsewhere, gold pared recent gains and Bitcoin was trading around $48,000.
Some key events to watch this week include the U.S. plans to pull out almost all American troops from Afghanistan Tuesday, OPEC+ meeting on output Wednesday, a series of Manufacturing PMI Wednesday and U.S. jobs report Friday
Energy markets are focused on Hurricane Ida with U.S. gasoline futures jumped and oil was steady after the storm barreled ashore in Louisiana. Brent crude declined 39 cents (-0.54%) at $72.32 per barrel and U.S WTI declined 68 cents (-0.99%) at $68.06 barrel.
Indonesia Weekly Market Update
STOXX 50.. 4,196.15 (+0.12%)
CAC 40.. 6,683.47 (+0.02%)
DAX.. 15,865.39 (+0.09%)
NIKKEI.. 27,789.29 (+0.54%)
HSI.. 25,537.47 (+0.51%)
SHCOMP.. 3,528.15 (+0.17%)
TAIEX.. 17,396.52 (+1.08%)
KOSPI.. 3,144.19 (+0.33%)
S&P/ASX 200.. 7,504.54 (+0.22%)
SENSEX.. 56,715.33 (+1.05%)
STI.. 3,099.62 (+0.61%)
DOW FUT.. 35,416.00 (+0.04%)
S&P FUT.. 4,507.75 (+0.05%)
NASDAQ FUT.. 15,444.25 (+0.12%)
For previous market review : Market Review (11) 26.8.2021
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