Market Update Indonesian Stocks Extend Gains

Market Update Indonesian Stocks Extend Gains

– Jakarta composite hit record high again with foreign inflows continued.
• Finance ministry raised Rp8.15 trillion in state securities auction today, below indicative target of Rp9 trillion.
• Asian and European stocks were mixed on Tuesday with investors continue to monitor development surrounding Ukraine war.
• The Reserve Bank of Australia announced Tuesday its decision to keep the cash rate target unchanged at 0.1% but noted inflation had picked up and was likely to rise further.
• The United States and Europe were planning new sanctions to punish Moscow over civilian killings in Ukraine.
• Oil prices extended gains on Tuesday while gold eased as investors braced for the prospect of more Western sanctions on Russia

Jakarta composite rose 32.081 points (+0.451%) to another all-time high of 7,148.299 while LQ45 added 0.52% to 1,038.85. There were 22.671 billion shares traded worth of Rp12.475 trillion, including transaction of Rp603.57 billion in negotiation market. 290 shares rose while 241 declined and 157 unchanged. Foreigners purchased a net Rp603.57 billion in regular market only.

On currency, according to JISDOR Tuesday afternoon, rupiah added 14 points (+0.1%) to 14,348. Spot rate strengthened 8 points (+0.06%) at 14,354.

Finance ministry raised Rp8.15 trillion in state securities auction today, below indicative target of Rp9 trillion. Total incoming bids were 18.1 trillion.

Corporate News Update

• DEWA will conduct a rights issue of 22 billion Series B shares to pay debts and to fund the company’s working capital.
• After 9 years of absence, NIKL will finally distribute cash dividend of $1.75 million from its net profit gained in 2021. Ex-dividend date for regular and negotiation market is set on 11 April 2022.
• GJTL posted a net profit of Rp86.3 billion in 2021. This number decreased 73% compared to the realization in 2020 with a net profit of Rp320 .3 billion.

Global Markets Update

• Asian and European stocks were mixed on Tuesday with investors continue to monitor development surrounding Ukraine war.
• Markets in mainland China and Hong Kong were closed for a public holiday on Tuesday.
• The Reserve Bank of Australia announced Tuesday its decision to keep the cash rate target unchanged at 0.1% but noted inflation had picked up and was likely to rise further, while unemployment had fallen faster than expected to 4.0%.
• The United States and Europe were planning new sanctions to punish Moscow over civilian killings in Ukraine, and President Volodymyr Zelenskiy warned more deaths were likely to be uncovered in areas seized from Russian invaders.
• PMI surveys on Tuesday showed euro zone business growth got a boost last month from the re-opening of economies, but soaring energy costs and Russia’s invasion of Ukraine threaten the recovery.
• Global markets are looking to Wednesday’s release of minutes from the Federal Reserve’s last policy meeting that could offer signs that the U.S. central bank could raise its benchmark overnight interest rate by half a percentage point next month.

Commodities Update

• Oil prices extended gains on Tuesday while gold eased as investors braced for the prospect of more Western sanctions on Russia following allegations of civilian massacres near Ukrainian towns.
• Brent crude futures rose 72 cents or 0.67% to 108.25 per barrel while West Texas Intermediate crude futures, the U.S. oil benchmark, rose 63 cents or 0.61% to $103.91 per barrel.
• Indonesia sets benchmark coal price for April shipment at record $288.40 a tonne.

Major index this afternoon:

STOXX 50.. 3,934.81 (-0.41%)
CAC 40.. 6,670.98 (-0.9%)
DAX.. 14,488.45 (-0.2%)
FTSE.. 7,540.02 (-0.25%)

NIKKEI.. 27,787.98 (0.19%)
TAIEX.. 17,625.59 (-0.38%)
KOSPI.. 2,759.20 (0.05%)
S&P/ASX 200.. 7,527.90 (0.19%)
SENSEX.. 60,176.50 (-0.72%)
STI.. 3,445.01 (+0.82%)

DOW FUT.. 34,734.00 (-0.27%)
S&P FUT.. 4,565.75 (-0.26%)
NASDAQ FUT.. 15,124.75 (-0.26%)