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Indonesian stocks rose on Tuesday with investors prepare for year-end window dressing by investment managers.
Jakarta composite climbed 35.179 points (+0.532%) to 6,651.208. LQ45 rose 0.62% to 948.115. There were 26.819 billion shares traded worth of Rp12.926 trillion, including transaction of Rp1.24 trillion in negotiation market. Foreign investors sold a net Rp68.24 billion in regular market. 250 shares rose while 250 declined and 169 unchanged.
On earnings, CTRA reported a significant increase in revenue and net profit. the company posted revenue of Rp6.65 trillion at the end of September 2021. It also managed to reap net profit of Rp1.1 trillion on the third quarter, a 336.96% increase from previous year.
According to JISDOR released Tuesday afternoon, Rupiah slipped 5 points (+0.04%) at 14,211 while spot rate slipped 10 points (-0.07%) to 14,220.
European stocks opened higher while Asians were mixed on Tuesday with traders monitored President Joe Biden and Chinese leader Xi Jinping virtual summit.
Joe Biden and Xi Jinping spoke of the need for cooperation in their first face-to-face virtual summit, with both sides aiming to stabilize the U.S.-China relationship while downplaying expectations for major breakthroughs.
The UK unemployment rate declined to 4.3% in the three months to September 2021, the lowest since the three months to July 2020 and below market expectations of 4.4%. The number of unemployed people was down by 152,000 to 1.45 million, while employment rose by 247,000 to 32.52 million, above expectations of a 185,000 gain.
Minutes from the Australian central bank’s November monetary policy meeting minutes released Tuesday showed the RBA expecting to hold steady on the cash rate till 2024.
This week’s focus will be on U.S. retail sales data due later Tuesday with analysts forecast an acceleration.
Oil rebounded from a weak start on Tuesday as worries over tight inventories underpinned prices, although optimism was limited by fears over demand following a pickup in COVID-19 cases in Europe. Brent added 78 cents (+0.95%) at $82.83 per barrel and U.S WTI added 66 cents (+0.82%) at $81.56 a barrel.
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STOXX 50.. 4,399.07 (+0.29%)
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For previous market review: Indonesian Stocks Rise Near Record Level
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