Indonesia Weekly Stock Market Update
Indonesian stocks slumped on Wednesday amid foreign outflows as worries about slowing global growth weighed on sentiment while Bank Indonesia Consumer Survey in August 2021 indicated that consumer confidence in economic conditions was still restrained.
Jakarta composite declined 86.379 points (-1.413%) to 6,026.021 while LQ45 tumbled 1.70% to 856.597. There were 24.548 billion shares traded worth of Rp12.085 trillion, including transaction of Rp1.471 trillion in negotiation market. Foreign investors sold a net Rp644.81 billion in regular market. 138 shares rose while 376 declined and 142 unchanged.
Indonesia’s consumer confidence index fell further in August to 77.3, compared with 80.2 in the previous month, as consumers’ perception of the economy weakened, despite some relaxation of COVID-19 curbs
Five new comers made its debut in IDX today. CMNT, SBMA, RSGK, SBMA soared to their top limit while GTSI tumbled to its bottom limit.
BSDE has confirmed that it will enter the data center business. BSDE previously developed Digital Hub area in BSD City which frees start-ups, tech leaders and the digital community to innovate. One of company’s direct fundings in digital technology is by cooperating with Grab for the development of Grab Innovation and Engineering Lab in BSD City.
The Rights Issue of BBRI has passed its cum date, based on the prospectus, the state-owned bank set an exercise price of Rp3,400/share with a ratio of 100:23. Still cheaper than today’s closing price that retreated more than 2%.
According to JISDOR released Wednesday afternoon, Rupiah weakened 71 points (+0.50%) at 14,266 while spot rate declined 40 points (+0.28%) at 14,250.
Asian and European stocks were down on Wednesday, with the prospect of a slower economic reopening and an eventual reduction in Federal Reserve and European Central Bank pandemic stimulus support is leading to some investor wariness.
On the data front, Japan’s growth for April-June was revised up to an annual pace of 1.9% from a preliminary estimate of 1.3%.
On Wednesday, the Labor Department will report job openings for July. The jobs market is still struggling to recover from the pandemic and employers have been finding it difficult to fill openings amid lingering health fears and the resurgent virus could make it even more difficult.
On Friday, investors will get another update on inflation when the Labor Department reports on inflation at the wholesale level before costs are passed on to consumers.
Oil prices recovered from overnight losses from a stronger dollar and demand concerns, with a slow production restart in the U.S. Gulf of Mexico providing some support. Brent crude rose 17 cents (+0.24%) at $71.86 per barrel and U.S WTI rose 29 cents (+0.42%) at $68.64 barrel.
Indonesia Weekly Stock Market Update
STOXX 50.. 4,162.92 (-1.47%)
CAC 40.. 6,633.72 (-1.37%)
DAX.. 15,610.53 (-1.47%)
FTSE.. 7,068.38 (-1.13%)
NIKKEI.. 30,181.21 (+0.89%)
HSI.. 26,320.93 (-0.12%)
SHCOMP.. 3,675.19 (-0.04%)
TAIEX.. 17,270.49 (-0.91%)
KOSPI.. 3,162.99 (-0.7%)
S&P/ASX 200.. 7,512.00 (-0.24%)
SENSEX.. 58,036.52 (-0.42%)
STI.. 3,068.97 (-1.27%)
DOW FUT.. 34,926.00 (-0.47%)
S&P FUT.. 4,502.75 (-0.37%)
NASDAQ FUT.. 15,627.25 (-0.30%)
For previous market review : Indonesia Weekly Market Recap (13) 2.9.2021
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