Indonesian Stocks Trade Lower Despite Gains in Global Markets

Indonesian Stocks Trade Lower Despite Gains in Global Markets

• Indonesian stocks extended losses on Tuesday as outlook on economic growth across the globe remain uncertain.
• Shares in Asia and Europe were mostly higher in Tuesday trade as sentiment received a brief boost after China’s decision to halve the quarantine period to seven days, with a further three days spent at home.

Indonesian stocks extended losses on Tuesday as outlook on economic growth across the globe remained uncertain.

Jakarta composite declined 19.599 points (-0.279%) to 6,996.456 while LQ45 fell 0.307% to 1,007.637. There were 19.493 billion shares traded worth of Rp12.797 trillion, including transaction of Rp2.141 trillion in negotiation market. 219 shares rose while 296 declined and 175 unchanged.

On currency, according to JISDOR Tuesday afternoon, rupiah weakened 35 points (-0.24%) to 14,837. Spot rate weakened 35 points (-0.24%) to 14,835.

On corporate news, WSKT plans to narrow down its net loss from Rp1.8 trillion last year to Rp1.1 trillion. The company also expects to generate Rp2.98 trillion from 5 toll road divestments this year, including to Indonesia Investment Authority.

GOTO has secured its AGMS approval to increase a maximum of 10% of paid up capital through a private placement.

Global markets

• Shares in Asia and Europe were mostly higher in Tuesday trade as sentiment received a brief boost after China’s decision to halve the quarantine period to seven days, with a further three days spent at home.
• The People’s Bank of China pledged to keep monetary policy supportive to help the nation’s economy. It signaled that stimulus would likely focus on boosting credit rather than lowering interest rates.
• Investors stateside will be looking closely at more data later today, including June consumer confidence and April home prices, to gauge the health of the economy.
• On the data front, the GfK Consumer Climate Indicator in Germany declined to a fresh record low of -27.4 in July.

Commodities

• Oil continued to rise with investors still weighing worries over an economic slowdown against concern over lost Russian supply amid sanctions related to the conflict in Ukraine. Meanwhile, major producers Saudi Arabia and the United Arab Emirates looked unlikely to be able to boost output significantly while political unrest in Libya and Ecuador added to those supply concerns.
• Gold rose as the U.S. dollar weakened on softening inflation expectations.

Major index and commodities this afternoon:

STOXX 50.. 3,568.11 (+0.83%)
CAC 40.. 6,114.29 (+1.11%)
DAX.. 13,291.89 (+0.8%)
FTSE.. 7,327.41 (+0.95%)

NIKKEI.. 27,049.47 (+0.66%)
HSI.. 22,418.97 (+0.85%)
SHCOMP.. 3,409.21 (+0.89%)
TAIEX.. 15,439.92 (-0.7%)
KOSPI.. 2,422.09 (+0.84%)
S&P/ASX 200.. 6,763.60 (+0.86%)
SENSEX.. 52,965.91 (-0.37%)
STI.. 3,139.54 (+0.06%)

DOW FUT.. 31,560.00 (+0.44%)
S&P FUT.. 3,919.25 (+0.40%)
NASDAQ FUT.. 12,085.75 (+0.38%)

Crude Oil WTI.. 110.53 (+0.88%)
Brent Oil.. 111.97 (+0.89%)
Natural Gas ..6.53 (-0.24%)
Gold.. 1,829.15 (+0.24%)
Silver.. 21.33 (+0.65%)
Copper.. 3.82 (+1.36%)