Market Update Indonesian Stocks End First Quarter

Market update Indonesian Stocks End First Quarter at Record Level Amid Capital Inflows

• Jakarta composite rose to another all time high level despite losses in global markets
• Indonesian equity market gained 7.44% throughout the first quarter with Rp32.02 trillion foreign capital inflows.
• Chinese factory activity shrunk to 49.5 in March, from February’s reading of 50.2.
• Oil prices tanked more than $5 a barrel on Thursday as the United States is considering the release of up to 180 million barrels from its strategic petroleum reserve over several months to calm soaring crude prices.

Jakarta composite rose 18.252 points (+0.259%) to 7,071.442 while LQ45 slipped 0.12% to 1,022.99. There were 22.748 billion shares traded worth of Rp14.9 trillion, including transaction of Rp3.558 trillion in negotiation market. 271 shares rose while 249 declined and 165 unchanged. Foreigners purchased a net Rp1.14 trillion in regular market only.

On currency, according to JISDOR Thursday afternoon, rupiah slipped 8 points (-0.06%) to 14,357. Spot rate slipped 28 points (-0.20%) at 14,368.

Indonesia will implement 11% VAT rate tomorrow in effort to increase State revenues and minimize the State budget deficit and expenditure.

Indonesian equity market gained 7.44% throughout the first quarter with Rp32.02 trillion foreign capital inflows.

Corporate News Update End First Quarter

• MIDI reported growth in revenue by Rp925 billion to Rp13.58 trillion in 2021 from Rp12.65 trillion reported in 2020, bringing net profit to soar from Rp200.27 billion in 2020 to Rp275.22 billion by the end of 2021.
• IPCC managed to score profit in 2021. Net profit was recorded at Rp60.06 billion from previous year as revenue grew 44.96% to Rp516.84 billion.
• GOTO Group is raising Rp15.8 trillion in one of the world’s largest initial public offerings this year. The ride-hailing, e-commerce and fintech company priced its offering of 46.7 billion shares at Rp338 per share. Its debut is set for April 11.

Global Markets Update End First Quarter

• Global stocks were lower on Thursday following Wall Street’s overnight stumble as oil prices fell sharply after the United States weighed a massive draw from its reserves to rein in surging fuel prices.
• Meanwhile, peace talks between Russia and Ukraine showed little progress. European stocks are poised for their first quarterly decline since the early pandemic days of 2020 as economic uncertainty around the war in Ukraine and red-hot inflation sour appetite for risk assets.
• In term of data, Chinese factory activity shrunk to 49.5 in March, from February’s reading of 50.2. Investors stateside are awaiting weekly jobless claims and personal income and spending data to be released Thursday morning.
• Inflation continues to squeeze governments and central banks around the world. Germany registered a whopping 7.6% inflation rate on Wednesday, sending its 2-year bond yield into positive territory for the first time since 2014.

Commodities

• Oil prices tanked around 5% a barrel on Thursday as the United States is considering the release of up to 180 million barrels from its strategic petroleum reserve over several months to calm soaring crude prices.
• Brent crude futures sank $4.87 or 4.29% to 108.58 per barrel while West Texas Intermediate crude futures, the U.S. oil benchmark, tumbled $5.45 or 5.05% to trade at $102.37 per barrel.
• Gold was down but remained on track for its biggest quarterly gain since September 2020 as the ongoing war in Ukraine raises demand for the safe-haven asset.

Major index this afternoon:

STOXX 50.. 3,951.74 (-0.19%)
CAC 40.. 6,731.00 (-0.16%)
DAX.. 14,598.95 (-0.05%)
FTSE.. 7,567.98 (-0.14%)

NIKKEI.. 27,821.43 (-0.73%)
HSI.. 21,996.85 (-1.06%)
SHCOMP.. 3,252.20 (-0.44%
TAIEX.. 17,693.47 (-0.27%)
KOSPI.. 2,757.65 (0.4%)
S&P/ASX 200.. 7,499.60 (-0.2%)
SENSEX.. 58,502.07 (-0.31%)
STI.. 3,419.85 (-0.66%)

DOW FUT.. 35,124.00 (+0.02%)
S&P FUT.. 4,602.75 (+0.15%)
NASDAQ FUT.. 15,140.00 (+0.45%)