Indonesia market review as of 29 July
Indonesia’s stocks were lower in Wednesday morning as investors remained cautious over Chinese stocks rout.
Jakarta composite slipped 8.526 point (-0.14%) to 6,088.523 with LQ45 declined 0.85% to 830.70. There were 18.933 billion shares traded worth of Rp12.495 trillion, including transaction of Rp2.028 trillion in negotiation market. Foreign investors sold a net Rp142.51 billion in regular market. 187 shares rose while 305 declined and 158 unchanged.
On corporate news, Indonesia’s Bank Jago said it has recorded a 695% jump in loan disbursements from a year earlier.
The digital bank, in which super app Gojek holds a 22% stake, said that it had disbursed loans worth 2.17 trillion rupiah (US$149.8 million) by the end of June 2021.
Bank Jago also noted that it has seen a huge 423% rise in its net interest income of 139 billion rupiah (US$9.6 million), which is the difference between interest earned from lending activities and the interest it pays out to depositors.
CPIN at the Annual General Meeting of Shareholders, approved the use of the 2020 financial year profits for cash dividend distribution of Rp112 per share or 47.80% of the profit for the year.
Meanwhile, WIKA plans to invest and run airport business activities at Hang Nadim International Airport, Batam with 25 years of management. The company will seek shareholder permission at the Extraordinary General Meeting of Shareholders (EGMS) September 2, 2021.
According to JISDOR released Wednesday afternoon, Rupiah stayed at 14,489 while spot rate retreated 36 points (+0.48%) at 14,495.
Asian shares stayed stuck at seven-month lows with Shanghai shares fell but trimmed earlier losses in volatile trade while Hang Seng Index shook off losses to rise 1.5% in afternoon trade after plunging to an eight-month closing low a day earlier.
European markets were higher on Wednesday morning amid a busy day for major corporate earnings, while investors awaited a key policy announcement from the U.S. Federal Reserve.
Encouraging earnings reports from some of Europe’s biggest banks and companies helped investors look past worries about China’s regulatory crackdown that kept markets on edge this week.
A meeting of the Federal Reserve board that began Tuesday is expected to bring an update on when the U.S. central bank might start to reduce bond purchases that inject money into financial markets and keep interest rates low.
Cryptocurrency prices are in the green. Meanwhile, Gold prices were flat on Wednesday, holding near the key psychological level of $1,800 per ounce, as investors await the U.S. Federal Reserve’s meeting for hints on policy tapering plans.
Oil prices climbed on Wednesday after American Petroleum Institute industry group showed U.S. crude stocks fell by 4.7 million barrels for the week ended July 23. Brent crude rose 36 cents (+0.48%) at $74.84 per barrel and U.S WTI crude climbed 49 cents (+0.68%) at $72.14 barrel. Traders are awaiting data from the U.S. Energy Information Administration on Wednesday to confirm the drop in stocks.
Indonesia Market Week In Review
STOXX 50.. 4,087.42 (+0.56%)
CAC 40.. 6,569.16 (+0.57%)
DAX.. 15,549.39 (+0.19%)
FTSE 100.. 7,006.43 (+0.15%)
NIKKEI.. 27,581.66 (-1.39%)
HSI.. 25,473.88 (+1.54%)
SHCOMP.. 3,361.59 (-0.58%)
TAIEX.. 17,135.22 (-0.78%)
KOSPI.. 3,236.86 (+0.13%)
S&P/ASX 200.. 7,379.30 (-0.70%)
STI.. 3,135.94 (-0.09%)
DOW FUT.. 34,943.00 (-0.03%)
S&P FUT.. 4,403.25 (+0.20%)
NASDAQ FUT.. 14,993.25 (+0.30%)
For previous market review : Market Review (1) 21.07.2021
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