Indonesian stocks retreated on Tuesday despite positive lead from global markets and easing restrictions in the country.
Jakarta composite declined 20.331 points (-0.333%) to 6,089.497 while LQ45 fell 0.91% to 855.972. There were 28.483 billion shares traded worth of Rp12.953 trillion, including transaction of Rp1.132 trillion in negotiation market. Foreign investors sold a net Rp92.28 billion in regular market. 197 shares rose while 298 declined and 162 unchanged.
BBYB continue to outperform on the back to company’s plan to transform its banking services into a digital bank to serve the millennial customers. Indonesia’s digital banking sector receives boost from new rules. The new regulations allow near-full foreign ownership of local lenders and reduce red tape for new services as regulators move to spur growth in the country’s emerging digital banking industry.
On other corporate news, REAL and the Daarul Qur’an Indonesia Foundation signed a MoU worth Rp825 billion for the construction and development of the Daarul Qur’an Islamic Boarding School and its supporting facilities and facilities throughout Indonesia which was fostered by Ustadz Yusuf Mansyur.
IPCC managed to record a net profit of Rp14.83 billion in the first six months of 2021. In the same period last year, the company still recorded a net loss of Rp237 million.
Finance ministry absorbed Rp9 trillion from incoming bids of 52.468 trillion in Tuesday’s auction. Meanwhile, Bank Indonesia will purchase government bonds worth up to Rp439 trillion in 2021 and 2022 to provide cheaper financing for the government’s COVID-19 relief measures.
The government will disburse investment financing for State-Owned Enterprises and other institutions in the second semester of 2021 amounting to Rp42.4 trillion.
According to JISDOR released Tuesday afternoon, Rupiah climbed 24 points (+0.17%) to 14,391 while spot rate rose 20 points (+0.14%) at 14,390.
Stocks in Asia and Europe rose after Wall Street rallied overnight boosted by full regulatory approval of Pfizer Covid-19 vaccine by FDA.
Pfizer and BioNTech’s Covid-19 vaccine became the first in the U.S. on Monday to be granted full approval by the Food and Drug Administration.
On the data front, The German economy expanded 1.6% on quarter in the second quarter of 2021, slightly more than 1.5% in the preliminary estimate, and rebounding from a downwardly revised 2% contraction in the first 3 months of the year, when the country was under restrictive measures due to the coronavirus crisis. Year-on-year, the economy advanced 9.4%. The German GDP is expected to grow 3.7% this year, although it may miss full-year growth targets due to the coronavirus delta variant.
Some events to watch this week includes Bank of Korea policy decision, Jackson Hole Economic Policy Symposium, U.S. GDP, initial jobless claims Thursday and July U.S. personal income and spending data Friday. In the meantime, investors continue to keep one eye on the situation in Afghanistan with G-7 leaders are expected the seek a unified decision on Tuesday as to whether or not to recognize the Taliban’s leadership, and whether to impose sanctions on the organization.
The global Gold Price continued to grow. Meanwhile, the crypto cart showed mixed trends on Tuesday as investors booked profits in recent gainers and bulls took a brief pause after a sharp rally.
Oil prices rose on Tuesday after the U.S. drug regulator granted full approval to the Pfizer/BioNTech SE Covid-19 vaccine. Brent crude rose 74 cents (+1.08%) at $69.49 per barrel and U.S WTI rose 62 cents (+0.94%) at $66.26 barrel.
Indonesia Stock Market Update
STOXX 50.. 4,186.82 (+0.25%)
CAC 40.. 6,687.02 (+0.06%)
DAX.. 15,897.02 (+0.28%)
FTSE 100.. 7,117.23 (+0.12%)
NIKKEI.. 27,732.10 (+0.87%)
HSI.. 25,727.92 (+2.46%)
SHCOMP.. 3,514.47 (+1.07%)
TAIEX.. 16,818.73 (+0.46%)
KOSPI.. 3,138.30 (+1.56%)
S&P/ASX 200.. 7,502.98 (+0.17%)
SENSEX.. 55,924.29 (+0.66%)
STI.. 3,107.95 (+0.66%)
DOW FUT.. 35,336.00 (+0.16%)
S&P FUT.. 4,486.00 (+0.23%)
NASDAQ FUT.. 15,376.50 (+0.47%)
For previous market review : Market Review (9) 19.08.2021
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