Stock Market Flash News
• Indonesian stocks swung after two days of heavy losses.
• BBNI posted a consolidated net profit attributable to owners of the parent entity of Rp10.89 trillion throughout 2021
• President Jokowi released its very first smelting grade alumina export of 20 thousand tons worth $7.7 million
• Stocks in Asia were mixed while Europeans advanced on Wednesday with investors look ahead to the Fed’s meeting conclusion
• IMF downgraded its global growth forecast for this year as rising Covid-19 cases, supply chain disruptions and higher inflation hamper economic recovery.
Jakarta composite rose 32.646 points (+0.497%) to 6,600.819. LQ45 increased 0.80% to 946.859. There were 25.431 billion shares traded worth of Rp13.613 trillion, including transaction Rp2.2 trillion in negotiation market. 267 shares rose while 257 declined and 149 unchanged. Foreign investors sold a net Rp106.41 billion.
On corporate news, CMNP is seeking for shareholders approval as it plans to conduct rights issue of 2,232,846,365 shares.
NETV soared to its limit on its debut. The company offered a maximum of 765,306,100 new shares or the equivalent of 4.37% of the issued and fully paid capital after the IPO. Raising a total of Rp149,999,995,600 from its IPO proceeds
On earnings, BBNI posted a consolidated net profit attributable to owners of the parent entity of Rp10.89 trillion throughout 2021, increased significantly from Rp3.28 trillion in the same period in 2020. Meanwhile, net profit of the bank only, was recorded at Rp10.68 trillion as of December 2021 from the previous year of Rp2.75 trillion.
Indonesia has made its very first export of smelting grade alumina, a derivative product of bauxite, of 20 thousand tons worth $7.7 million. Furthermore, alumina export this year is expected to reach $1.5 billion trillion and will double to $2.7 billion in 2023.
On coronavirus, Indonesia on Tuesday confirmed 4,878 new Covid-19 cases, the highest single-day rise since Sept 12, 2021, amid the spread of the Omicron variant. On currency, according to JISOR Wednesday afternoon, rupiah climbed 12 points (-0.08%) to14,346. Spot rate added 5 points to (+0.03%) 14,345.
Global markets
Stocks in Asia were mixed on Tuesday with investors look ahead to the Fed’s conclusion of its meeting on Wednesday local time and continue to monitor geopolitical tensions in Middle East continue. In Europe, equities advanced with investors turned focus to earnings.
The Federal Reserve is expected to issue a statement on Wednesday local time, signaling a rate hike as soon as March and more policy tightening on the table to address high inflation. The International Monetary Fund downgraded its global growth forecast for this year as rising Covid-19 cases, supply chain disruptions and higher inflation hamper economic recovery.
Markets in Australia and India are closed for holidays on Wednesday.
Commodity
Oil prices extended gains on concerns over Ukraine-Russia tensions. Brent crude added 38 cents (+0.43%) to $88.58 while crude futures rose 21 cents (+0.25%) to $85.81. Gold held near the highest level in more than two months as investors waited for the outcome of a Federal Reserve meeting that could offer more clues on the outlook for monetary policy tightening. Cryptocurrency market stabilized whit volume remained thin following the recent wrath and ahead of the US Federal Reserve meeting outcome.
On economic calendar this week:
• Federal Reserve rate decision and Chair Jerome Powell news conference, Wednesday
• EIA crude oil inventory report, Wednesday
• U.S. fourth-quarter GDP growth data, plus U.S. initial jobless claims and durable goods, Thursday
• U.S. consumer income, University of Michigan consumer sentiment figures, Friday
Stock Market Flash News
Major index this afternoon:
STOXX 50.. 4,122.56 (+1.09%)
CAC 40.. 6,902.66 (+0.95%)
DAX.. 15,277.84 (+1.02%)
FTSE.. 7,439.07 (+0.92%)
NIKKEI.. 27,011.33 (-0.44%)
SHCOMP.. 3,455.67 (+0.66%)
HSI.. 24,245.17 (+0.01%)
TAIEX.. 17,674.40 (-0.15%)
KOSPI.. 2,709.24 (-0.41%)
STI… 3,276.22 (+0.88%)
DOW FUT.. 34,326.00 (+0.41%)
S&P FUT.. 4,371.75 (+0.52%)
NASDAQ FUT.. 14,281.75 (+1.00%)
For previous market review: Indonesian Stocks Climb on Thursday. Bank Indonesia Maintain Policy Decisions
Follow our IG or click the link to see all of our upcoming events and the latest news on the stock market :