Market Update: Indonesian Stocks Fluctuate and Rupiah Dip
• Indonesian stocks ended slightly lower after a mixed session amid selloff in global markets while investors in the country expect an interest rates hike from the central bank in effort to curb inflation.
• Stocks in Asia and Europe fell, amid prospect of further central banks’ monetary policy tightening and China’s renewed COVID outbreak.
• China’s Ministry of Finance is considering allowing local governments to sell 1.5 trillion yuan of special bonds in the second half of this year to shore up the economy.
Indonesian stocks ended slightly lower after a mixed session amid selloff in global markets while investors in the country expect an interest rates hike from the central bank in effort to curb inflation.
Jakarta composite slipped 3.851 points (-0.057%) to 6,718.294 while LQ45 fell 0.28% to 949.50. There were 20.711 billion shares traded worth of Rp9.386 trillion, including transaction of Rp881 billion in negotiation market. 273 shares rose while 220 declined and 198 unchanged.
According to JISDOR Tuesday afternoon, rupiah weakened 24 points (-0.16%) to 14,993. Spot rate declined 15 points (-0.10%) to 14,985.
Indonesian government held an auction for 6 series of sharia securities with an indicative target of Rp7 trillion.
PT Mora Telematika Indonesia Tbk (MORA) or widely known as Moratelindo, gears up towards its initial public offering (IPO) of 2.61 billion new shares in Indonesia Stock Exchange, equal to 11% of Moratelindo’s entire issued and paid-up capital. Each share is valued at Rp100 and will be offered for a price within the range of Rp368 to Rp396 per share. The book-building phase will last from July 12 to 18, 2022. Then, the main public offering event will take place from July 29 to August 2, 2022.
Market Update: Global markets
- Stocks in Asia and Europe fell, amid prospect of further central banks’ monetary policy tightening and China’s renewed COVID outbreak.
- China’s Ministry of Finance is considering allowing local governments to sell 1.5 trillion yuan of special bonds in the second half of this year to shore up the economy.
- Wall Street declined in overnight trade on investor concerns about rising inflation and corporate earnings ahead of earnings season.
- In Europe, sentiment has been hit by worries about the region’s energy crisis as the biggest pipeline carrying Russian gas to Germany began 10 days of annual maintenance at the start of the week.
Market Update: Commodities
- Oil was down on Tuesday in Asia as demand concerns spurred as China discovered highly cases of infectious BA.5 omicron sub-variant.
- Gold was cautiously higher Tuesday with the U.S. dollar continued to strengthen to its highest level in 20 years.
Major index and commodities this afternoon:
STOXX 50.. 3,448.54 (-0.67%)
CAC 40.. 5,968.13 (-0.47%)
DAX.. 12,739.04 (-0.73%)
FTSE.. 7,186.18 (-0.14%)
NIKKEI.. 26,336.66 (-1.77%)
HSI.. 20,844.74 (-1.32%)
SHCOMP.. 3,281.47 (-0.97%)
TAIEX.. 13,950.62 (-2.72%)
KOSPI.. 2,317.76 (-0.96%)
S&P/ASX 200.. 6,606.30 (0.06%)
SENSEX.. 54,148.41 (-0.45%)
STI.. 3,132.86 (+0.05%)
DOW FUT.. 30,934.00 (-0.66%)
S&P FUT.. 3,829.00 (-0.72%)
NASDAQ FUT.. 11,788.75 (-0.8%)
Crude Oil WTI.. 101.22 (-2.76%)
Brent Oil.. 104.67 (-2.27%)
Natural Gas.. 6.462 (+0.56%)
Gold.. 1,733.2 (+0.09%)
Silver.. 18.863 (-1.41%)
Copper.. 3.3595 (-2.07%)
Nickel.. 21,662.00 (-1.00%
For previous market review: Market Update: Indonesian Extended Declines; Rupiah at 2-Year Lows
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