Stock Market Overview
Indonesian stocks remain around their highest since January. Energy and industry shares tumbled amid profit taking activity.
Jakarta composite slipped 0.927 points (-0.014%) to 6,416.396 while LQ45 declined 0.42% to 924.254. There were 23.413 billion shares traded worth of Rp17.942 trillion, including transaction of Rp1.373 trillion in negotiation market. Foreign investors purchased a net Rp2.24 trillion in regular market. 220 shares rose while 289 declined and 150 unchanged.
Foreign Exchange Reserves in Indonesia increased to $146.9 billion in September from $144.8 billion in August of 2021.
On corporate news, WSKT via its toll road unit Waskita Toll Road has completed the divestment of 55% stake at PT Cibitung Tanjung Priok Port Tollways to PT Akses Pelabuhan Indonesia with a total transaction of Rp2.67 tn. CTP owns Cibitung – Cilincing Toll Road which has a total length of 34 km. The company previously indicated debt deconsolidation of around Rp5 – 6 trillion from this divestment.
The controlling shareholder of IRRA, PT Global Dinamika Kencana, is reported to takeover 51.85% of the DGIK’s shares.
BEKS set the exercise price for the rights issue at Rp77 per share. The company will issue 23.39 billion new C series shares with a nominal value of Rp50 per share. Through this corporate action, the company is expected to raise Rp1.8 trillion fresh funds.
According to JISDOR released Thursday afternoon, strengthened 7 points (+0.05%) at 14,238 while spot rate added 35 points (+0.25%) at 14,215.
Asian and European stocks were higher in Thursday trade after Wall Street rebounded on Wednesday as the top U.S. Senate Republican backed an extension of the U.S. debt ceiling and and bought into technology stocks.
Sentiment turned positive after the benchmark U.S. 10-year Treasury yield retreated from more than three-month highs on Wednesday and after ADP report showed Private jobs rose by 568,000 for the month, better than the Dow Jones estimate from economists of 425,000 and ahead of the downwardly revised 340,000 reading in August.
Chinese markets remain closed for a holiday, but the plan of U.S. President Joe Biden’s plans to meet virtually with Chinese President Xi Jinping before the end of 2021 gave investor sentiment a boost.
Singapore’s health ministry reported 3,577 new cases of COVID-19 on Wednesday, the highest since the beginning of the pandemic, while it recorded three new deaths from the disease. A recent spike in infections after the relaxation of some restrictions has prompted Singapore to pause further reopening. It also tightened curbs from last week that limited social gatherings to two people and made work from home a default.
Oil prices extended declines on Thursday following nearly 2% drop in previous session after hitting a multi-year highs, as an unexpected rise in U.S. crude inventories prompted buyers to take a breather after recent torrid gains. Brent declined $1.37 (-1.70%) at $79.70 per barrel and U.S WTI fell $1.83 (-2.42%) at $76.74 a barrel. U.S. crude inventories rose by 2.3 million barrels last week, against expectations for a modest dip of 418,000 barrels, the U.S. Energy Department said.
Stock Market Overview
STOXX 50.. 4,055.78 (+1.07%)
CAC 40.. 6,546.11 (+0.82%)
DAX.. 15,119.77 (+0.98%)
FTSE.. 7,041.93 (+0.66%)
NIKKEI.. 27,678.21 (+0.54%)
HSI.. 24,701.73 (+3.07%)
TAIEX.. 16,713.86 (+1.96%)
S&P/ASX 200.. 7,257.18 (+0.70%)
SENSEX.. 59,803.85 (+1.04%)
STI.. 3,103.78 (+0.65%)
DOW FUT.. 34,420.00 (+0.38%)
S&P FUT.. 4,377.75 (+0.55%)
NASDAQ FUT.. 14,894.75 (+0.92%)
For previous market review: Stock Market Update – Originaturuang.com
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