Indonesian Stocks Tracked Declines In Regional Markets.
Indonesian stocks tracked declines in regional markets amid risk of slower economic recovery.
Jakarta composite slipped 6.716 points (-0.11%) to 6,088.157 while LQ45 declined 0.54% to 865.536. There were 18.874 billion shares traded worth of Rp9.214 trillion, including transaction of Rp867 billion in negotiation market. Foreign investors sold a net Rp140.78 billion in regular market. 233 shares rose while 259 declined and 167 unchanged.
Indonesia is projected to lead a significant reduction of bank branches in Southeast Asia over the coming 10 years as customers shift from physical to digital banking services.
Fitch Ratings has affirmed WIKA Long-Term Foreign- and Local-Currency Issuer Default Ratings at ‘BB-‘. At the same time, Fitch Ratings Indonesia has affirmed WIKA’s National Long-Term Rating at ‘A-(idn)’. The Outlook is Negative.
A consortium of Indonesian companies, regulators and one university has begun a series of tests on an aviation fuel containing a small share of biofuel derived from palm oil, responding to a government mandate on the increased domestic use of the commodity through biofuel blending.
During the week, investors will watch Indonesia trade balance data due Wednesday.
According to JISDOR released Monday afternoon, Rupiah weakened 35 points (-0.25%) at 14,260 spot rate declined 50 points (-0.35%) at 14,250.
Stocks in Asia were mostly lower in Monday morning as the continued spread of Covid-19 has undermined the economic recovery and lifted supply-shock inflation, even as central banks reaffirm an accommodative stance.
Meanwhile, European shares and U.S. futures climbed ahead of critical U.S. inflation data with investors continued to digest the European Central Bank’s decision last week to slow down bond buying under its pandemic emergency purchase programme, in response to higher inflation and stronger GDP growth across the euro zone.
Global investors are keeping an eye on the U.S. consumer price index for August, set to be released Tuesday
Elsewhere in Asia Pacific, North Korea said it successfully test-fired a new type of long-range cruise missile.
Gold prices were subdued on Monday as the dollar held firm, while cautious investors awaited readings on U.S. consumer prices due this week that could be crucial to Federal Reserve’s decision on tapering.
Data on Friday showed U.S. producer prices increased solidly in August, leading to the biggest annual gain in nearly 11 years, suggesting that high inflation is likely to persist for a while as the unrelenting COVID-19 pandemic continues to pressure supply chains.
Oil prices climbed on Monday to a one-week high in a second straight session of gains amid concerns over U.S. supplies following damage from Hurricane Ida. Brent crude rose 67 cents (+0.92%) at $73.59 per barrel and U.S WTI added 70 cents (+1.00%) at $70.42 barrel.
Indonesia Weekly Market Update
STOXX 50.. 4,193.31 (+0.55%)
CAC 40.. 6,697.83 (+0.51%)
DAX.. 15,719.97 (+0.71%)
FTSE.. 7,069.01 (+0.57%)
NIKKEI.. 30,447.37 (+0.22%)
HSI.. 25,813.81 (-1.50%)
SHCOMP.. 3,715.37 (+0.33%)
TAIEX.. 17,446.31 (-0.16%)
KOSPI.. 3,127.86 (+0.07%)
S&P/ASX 200.. 7,425.21 (+0.25%)
SENSEX.. 58,188.42 (-0.20%)
STI.. 3,073.40 (-0.82%)
DOW FUT.. 34,670.00 (+0.52%)
S&P FUT.. 4,470.25 (+0.48%)
NASDAQ FUT.. 15,498.75 (+0.42%)
For previous market review: Indonesia Weekly Market Update (15) 9.9.2021
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