Indonesian Stocks Join Global Selloff Amid Escalating Russia-Ukraine Crisis

Update Ulasan Pasar Modal

• Jakarta composite tumbled with global markets over news of Russia’s military attack on Ukraine.
• Foreign investors bought a net Rp821.38 billion in regular market.
• Escalating tensions between Russia and Ukraine had sent commodity prices to multi highs.
• Oil prices surged with Brent jumped above $100 for the first time since 2014. Natural gas also jumped more than 5%.

Jakarta composite tumbled 102.236 points (-1.477%) to 6,817.82. LQ45 fell 1.17% to 973.652. There were 31.558 billion shares traded worth of Rp21.17 trillion, including transaction of Rp1.99 trillion in negotiation market. 109 shares rose while 492 declined and 82 unchanged. Foreign investors bought a net Rp821.38 billion in regular market.

On currency, according to JISDOR Thursday afternoon, rupiah declined 16 points (-0.11%) to 14,371. Spot rate weakened 45 points (-0.31%) to 14,380.

Corporate news

• UNTR managed to sell 3,088 units of heavy equipments in 2021, increased 97.44% from 2020 sales.
• PJAA, a business unit owned by the DKI Jakarta provincial government, once again faced a loss of Rp275.02 billion in 2021 as the company reportedly only managed to gain Rp389.34 billion in 2021. It was 5.6% lower than the 2020 revenue of Rp404.19 billion.
• Financial Director of PPRO confirmed in a press release that the company had paid off two sets of bonds of Rp1.1 trillion in total due last week.

Global markets

• Stocks across the globe faltered on as Russian attacks across Ukraine
• President Joe Biden expanded sanctions against Russia on Wednesday, with new U.S. penalties hitting the builder of the Nord Stream 2 gas pipeline and its corporate leadership.
• Beyond that, traders have been worried about increasingly hawkish central banks and the effect soaring inflation will have on growth.
• U.S. equity gauge is poised to fall into a bear market for the first time since the depths of the pandemic selloff.

Commodity

• Escalating tensions between Russia and Ukraine had sent commodity prices to multi highs.
• Oil prices surged with Brent jumped above $100 for the first time since 2014 on news of Russia’s military attack on Ukraine.
• U.S. West Texas Intermediate crude added $4.94, or 5.36%, to $97.04 a barrel, while Brent crude rose $5.07 , or 5.24%, to $101.91 a barrel. Natural gas also jumped more than 5%.
• CPO remained at its all time high amid supply concerns.
• Investors turned towards safe-haven assets after Ukraine declared a state of emergency and Russia sent troops into eastern Ukraine. In spot market, gold price breached its $1925 hurdle and has hit $1950 per ounce levels, around 13 month high. Aluminium and nickel hovered near multi-year highs.

Update Ulasan Pasar Modal

Major index this afternoon:

STOXX 50.. 3,846.10 (-3.20%)
CAC 40.. 6,577.69 (-2.99%)
DAX.. 14,117.76 (-3.51%)
FTSE.. 7,317.08 (-2.42%)

NIKKEI.. 25,970.82 (-1.81%)
HSI.. 22,816.99 (-3.56%)
SHCOMP.. 3,429.96 (-1.70%)
TAIEX.. 17,594.55 (-2.55%)
KOSPI.. 2,648.80 (-2.60%)
S&P/ASX 200.. 6,990.63 (-2.98%)
SENSEX.. 55,452.21 (-3.11%)
STI.. 3,262.23 (-3.85%)

DOW FUT.. 32,293.00 (-2.34%)
S&P FUT.. 4,115.00 (-2.53%)
NASDAQ FUT.. 13,091.00 (-3.08%)