Market update: JCI gains on Thursday
• Foreign investors purchased as much as Rp1.88 trillion in regular market only during midday trade.
• The net profit of IATA soared to $9.4 million in Q1 2022 compared to the same period in 2021, in which it suffered from a $1.30 million loss.
• Asian Investors are watching for signs of policy support from Chinese authorities after the central bank surprised markets on Wednesday by keeping benchmark lending rates unchanged.
• In Europe, stock markets opened marginally higher Thursday, with investors keeping track of developments in Ukraine and the French presidential campaign.
• G7 finance ministers announced plans Wednesday to provide additional support to Ukraine of at least $24 billion for 2022 and beyond.
Jakarta composite rose 48.831 points (+0.676%) to 7,276.193 while LQ45 rose 0.95% to 1,063.73. There were 20.132 billion shares traded worth of Rp17.371 trillion, including transaction of Rp1.959 trillion in negotiation market. 257 shares rose while 289 declined and 150 unchanged. Foreign investors purchased as much as 1.88 trillion in regular market only.
On currency, according to JISDOR Thursday afternoon, rupiah slipped 3 points (+0.02%) to 14,348. Spot rate added 12 points (+0.08%) at 14,343.
Corporate News Update
- The net profit of IATA soared to $9.4 million in Q1 2022 compared to the same period in 2021, in which it suffered from a $1.30 million loss. Thanks to its acquisition over PT Bhakti Coal Resources.
- DRMA reported a net profit of Rp115,91 billion, jumped 121.92% from the same period in previous year of Rp52.23 billion.
- ASII secured approval from Annual General Meeting of Shareholders to distribute dividend of its 2021 net profit. Rp239 per share will be distributed as cash dividends, including an interim dividend of Rp45 per share that has been paid on October 29, 2021.
Global Markets Update
- Asian stocks were mixed with Mainland China and Hong Kong stocks fell on Thursday, hurt by worries about the Chinese economy, but an overnight tumble in longer dated U.S. treasury yields lent support to other benchmark indexes.
- Investors are watching for signs of policy support from Chinese authorities after the central bank surprised markets on Wednesday by keeping benchmark lending rates unchanged.
- In Europe, stock markets opened marginally higher Thursday, with investors keeping track of developments in Ukraine and the French presidential campaign.
- G7 finance ministers announced plans Wednesday to provide additional support to Ukraine of at least $24 billion for 2022 and beyond, adding that they were prepared to do more as needed. Meanwhile, U.S. President Joe Biden is set to deliver later Thursday an update on the Russian invasion amid expectations that he will announce another arms package for Ukraine’s military.
- Investors got a fresh glimpse into the Federal Reserve’s economic outlook on its “Beige Book” of economic conditions from late February to early April. The central bank reported the economy expanded at a moderate pace during that time, though business reported issues with high inflation and worker shortages.
Commodities Update
- Oil prices bounced on Thursday amid concerns about supply due to a potential European Union ban on Russian oil after being rocked earlier in the week by supply losses from Libya and a worrying outlook for demand as the International Monetary Fund cut its global growth forecasts.
- Brent crude futures were up $1.42, or 1.33%, to $108.23 a barrel, and U.S. West Texas Intermediate contracts rose $1.09, or 1.07%, to $103.28 a barrel.
- OPEC member Libya said on Wednesday it was losing more than 550,000 barrels per day of oil output due to blockades.
- Crude oil supply data from the U.S. Energy Information Administration, released Wednesday, showed a draw of 8 million barrels for the week ended April 15, confirming the strong numbers released the previous session by the industry body American Petroleum Institute.
- Gold is continuously declining on Thursday as investors are cautious over the speech of Jerome Powell in the New York session suggesting a rate hike is highly likely.
Major index this afternoon
Market update: JCI gains on Thursday
• Foreign investors purchased as much as Rp1.88 trillion in regular market only during midday trade.
STOXX 50.. 3,937.58 (+1.05%)
CAC 40.. 6,723.50 (+1.49%)
DAX.. 14,511.27 (+1.04%)
FTSE.. 7,624.32 (-0.06%)
NIKKEI.. 27,553.06 (+1.23%)
HSI.. 20,682.22 (-1.25%)
SHCOMP.. 3,079.81 (-2.26%%)
TAIEX.. 17,127.95 (-0.12%)
KOSPI.. 2,728.21 (+0.35%)
S&P/ASX 200.. 7,592.80 (+0.31%)
SENSEX.. 57,901.42 (+1.51%)
STI.. 3,352.86 (+0.53%)
DOW FUT.. 35,269.00 (+0.54%)
S&P FUT.. 4,489.25 (+0.76%)
NASDAQ FUT.. 14,161.00 (+1.12%)
For previous market review: Market update: Indonesian stocks edge lower on Tuesday
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