Market Update: Indonesian Shares Trade Higher. LQ45 Gains More Than 1%
• Indonesian stocks were higher on Tuesday. Indonesia’s economic fundamentals remain sound amid the turbulent global economy, President Joko Widodo said in an annual address to parliament Tuesday.
• Asian stocks rose on Tuesday as investors bet that China would roll out more stimulus measures to improve economic growth following disappointing data yesterday.
• Global commodity markets plummeted after significantly weaker-than-expected industrial production data from China raised concerns over sluggish demand from the world’s largest commodity importer.
Indonesian stocks were higher on Tuesday. Indonesia’s economic fundamentals remain sound amid the turbulent global economy, President Joko Widodo said in an annual address to parliament Tuesday.
Jakarta composite added 40.177 points (+0.566%) to 7,133.453 while LQ45 climbed 1.051% to 1,016.357. There were 26.511 billion shares traded worth of Rp13.401 trillion, including transaction of Rp1.39 trillion in negotiation market. 191 shares rose while 335 declined and 163 unchanged.
According to JISDOR Tuesday afternoon, rupiah declined 40 points (-0.27%) to 14,767 while spot rate declined 25 points (-0.17%) to 14,765.
President Jokowi said that the country needs to bolster development in its downstream industry as well as produce high-value commodities. It will push for bauxite, copper and tin downstreaming, he said. Indonesia’s nickel-based exports to reach 440 trillion rupiah in 2022, he added.
PPRE secured new contracts worth a total of Rp2.74 trillion at the end of the first half of 2022. Said number included contracts newly obtained in June 2022 worth Rp 661.9 billion.
Indonesia’s markets will close tomorrow for holiday.
Global markets
- Asian stocks were mixed on Tuesday amid speculation that China would roll out more stimulus measures to improve economic growth following disappointing data yesterday.
- In Europe, stock markets edged higher Tuesday, helped by strong earnings from mining giant BHP Group while investor assessed German ZEW sentiment data.
The ZEW Indicator of Economic Sentiment for Germany edged up to -55.3 in August of 2022 from an over 10-year low of -53.8 in July, compared to market expectations of -53.8. Still, the current conditions subindex deteriorated further to -47.6 from -45.8, the lowest since April 2021. - This week, investors will also be watching for the minutes from the Federal Reserve’s July meeting, which could give further clues as to how the central bank will hike rates to tame inflation going forward.
Commodities
- Oil prices extended declines along with metal prices on concerns over waning Chinese demand and a Saudi Arabian supply glut.
- Europe’s benchmark power price rose to a record for a fifth consecutive trading session as there are no signs of the natural gas rally slowing down.
- Global commodity markets plummeted after significantly weaker-than-expected industrial production data from China raised concerns over sluggish demand from the world’s largest commodity importer.
Major index this afternoon:
STOXX 50.. 3,811.64 (+0.58%)
CAC 40.. 6,604.00 (+0.52%)
DAX.. 13,926.74 (+0.8%)
FTSE.. 7,536.41 (+0.36%)
NIKKEI.. 28,868.91 (-0.01%)
HSI.. 19,830.52 (-1.05%)
SHCOMP.. 3,277.89 (+0.05%)
TAIEX.. 15,420.57 (+0.02%)
KOSPI.. 2,533.52 (+0.22%)
S&P/ASX 200.. 7,105.40 (+0.58%)
SENSEX.. 59,815.94 (+0.59%)
STI.. 3,250.44 (-0.2%)
DOW FUT.. 33,896.00 (+0.07%)
S&P FUT.. 4,298.25 (0%)
NASDAQ FUT.. 13,682.25 (+0.01%)
Crude Oil WTI.. 88.39 (-1.14%)
Brent Oil.. 93.72 (-1.45%)
Natural Gas.. 8.92 (+2.21%)
Gold.. 1,789.50 (-0.48%)
Silver.. 20.06 (-1.05%)
Copper.. 3.61 (-0.33%)
Nickel.. 22,182.50 (+0.77%)
For previous market review: Market Update: Equity Markets Rally on U.S. Inflation Data
Follow our IG or click the link to see all of our upcoming events and the latest news on the stock market :
Did you miss our latest event? Click to watch it
Recent Comments