Indonesian Stocks Trade Lower After Six-Day Winning Streak With Uncertainty About Omicron Hit Markets Again

Stock Market News Update 

Jakarta composite declined 47.234 points (-0.709%) to 6,615.637. LQ45 fell 0.36% to 940.345. There were 21.953 billion shares traded worth of Rp11.316 trillion, including transaction of Rp1.996 trillion in negotiation market. 171 shares rose while 353 declined and 153 unchanged. Foreign investors sold a net Rp210.15 billion in regular market.

Investors in the country look ahead trade data tomorrow and central bank policy decisions due Thursday.

According to JISDOR released Tuesday afternoon, Rupiah slipped 2 points (-0.01%) at 14,348 while spot rate added 10 points (+0.07%) at 14,330.

Asian dipped while Europeans opened higher with Omicron returned to focus ahead of a slew of central bank decisions this week.

On Monday, U.K confirmed that at least one patient infected with the Omicron variant has died in the country. Meanwhile, China reported its first omicron case.

Major Chinese manufacturing province Zhejiang is also fighting its first COVID-19 cluster this year, with tens of thousands of citizens in quarantine and virus-hit areas suspending business operations.

Traders will be watching the Federal Reserve’s policy decision due Wednesday for clues on the timing of tapering stimulus and raising interest rates

The dollar traded near a one-week high versus a basket of major rivals on Tuesday amid expectations of a hawkish Fed.

In Europe, policy meetings this week at the European Central Bank and the Bank of England also have investors staying put.

Oil prices turned higher despite worries about demand after renewed restrictions were imposed in Europe and Asia amid a rise in coronavirus cases. Brent crude futures added 34 cents (+0.46%) to $74.73 and U.S WTI declined rose 30 cents (+0.42%) at $71.59 a barrel.

Stock Market News Update 

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