Market Update: Indonesian Stocks Climb With Its Currency
• Indonesian stocks rose on Tuesday with Rupiah recovered slightly.
• Finance ministry is offering 7 series of government bond in an auction today, aiming for 20-30 trillion.
• Global stocks and U.S. share futures were higher on Tuesday as investors took a breather following recent steep selloff, but concerns remain that aggressive central bank rate hikes to curtail inflation could spark a global recession.
• The Reserve Bank of Australia governor Philip Lowe said in a speech that he expected inflation in Australia to peak at around 7% by the end of the year as pandemic-related supply chain disruptions resolve.
Indonesian stocks rose on Tuesday with Rupiah recovered slightly.
Jakarta composite added 67.694 points (+0.97%) to 7,044.071 while LQ45 rose 1.118% to 1,018.041. There were 24.839 billion shares traded worth of Rp13.551 trillion, including transaction of Rp1.234 trillion in negotiation market. 352 shares rose while 190 declined and 145 unchanged. Foreign investors sold a net Rp354.64 billion in regular markets.
On currency, according to JISDOR Tuesday afternoon, rupiah climbed 32 points (+0.22%) to 14,804. Spot rate added 20 points (+0.13%) to 14,810.
Finance ministry is offering 7 series of government bond in an auction today, aiming for 20-30 trillion.
Global markets
- Global stocks and U.S. share futures were higher on Tuesday as investors took a breather following recent steep selloff, but concerns remain that aggressive central bank rate hikes to curtail inflation could spark a global recession.
- The Reserve Bank of Australia governor Philip Lowe said in a speech that he expected inflation in Australia to peak at around 7% by the end of the year as pandemic-related supply chain disruptions resolve.
- The European Union is also expected to finalize the details of a 9 billion euro financial package for Ukraine in the coming days after the European Commission recommended last week the war-torn nation be granted candidate status to join the unio
- U.S. markets are set to return to trade on Tuesday after a holiday on Monday. Meanwhile, Federal Reserve Chair Jerome Powell is expected to deliver his semi-annual testimony to Congress this week.
Commodities
- Oil prices surged on Tuesday, clawing back more of last week’s losses as the focus returned to tight supply of crude and fuel products versus concerns about a recession hitting demand down the track.
- Brent crude rose $1.50 (+1.31%) to $115.63, while U.S. West Texas Intermediate crude added $2.41 (+2.23%) to $110.40 per barrel.
- Gold was down on Tuesday morning in Asia as the U.S. dollar eased. Benchmark U.S. 10-year Treasury yields rose, keeping gold prices in check. In other precious metals, silver was up 0.39%. Platinum gained 0.74% while palladium climbed 1.32%
Major index this afternoon:
STOXX 50.. 3,515.39 (1.31%)
CAC 40.. 6,013.91 (1.58%)
DAX.. 13,415.69 (1.13%)
FTSE.. 7,168.25 (0.65%)
NIKKEI.. 26,246.31 (1.84%)
HSI.. 21,559.59 (1.87%)
SHCOMP.. 3,306.72 (-0.26%)
TAIEX.. 15,728.64 (2.35%)
KOSPI.. 2,408.93 (0.75%)
S&P/ASX 200.. 6,523.80 (1.41%)
SENSEX.. 52,732.37 (2.2%)
STI.. 3,120.52 (+0.78%)
DOW FUT.. 30,367.00 (+1.67%)
S&P FUT.. 3,744.25 (+1.86%)
NASDAQ FUT.. 11,523.00 (+2.00%)
For previous market review: Market Update: Indonesian Stocks Trade Higher Despite Market Jitters
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