Stock Market News
Indonesian stocks slightly retreated due to profit taking as index was getting closer to breaking its all-time high after a six-day winning streak.
Jakarta composite slipped 2.77 points (-0.042%) to 6,655.999 while LQ45 slipped 0.13% to 975.155. There were 24.329 billion shares traded worth of Rp13.863 trillion, including transaction of Rp1.978 trillion in negotiation market. Foreign investors purchased a net Rp654.14 billion in regular market. 247 shares rose while 262 declined and 149 unchanged.
The Indonesian government has extended community activities restrictions enforcement in Java and Bali for a further 14 days, from October 19 to November 2. Children’s playgrounds in malls or shopping centers in Indonesia are allowed for reopening starting Oct. 19 as the transmission of the pandemic declines. Meanwhile, the audience capacity in cinemas which was previously limited to 50% is now allowed up to 70%.
Bank Indonesia on Tuesday kept its benchmark interest rate unchanged to continue to maintain the stability of the rupiah and support its economic recovery. The central bank maintained its seven-day reverse repo rate at 3.50% as expected. It also maintained the deposit facility interest rate at 2.75% and the lending facility interest rate at 4.25%.
Bank Indonesia saw a potential recovery from the global economic slowdown, although it was restrained by high growth in Europe. Therefore, it revised its global growth projection from 5.8% to 5.7% this year while keeping its growth projection for Indonesia at 3.5% – 4.3%.
According to JISDOR released Tuesday afternoon, Rupiah recovered 16 points (+0.11%) at 14,080 while spot rate rose 27 points (+0.19%) at 14,078.
Asian stock markets followed Wall Street higher as solid corporate earnings softening concerns about inflationary pressures.
In Europe, stocks were little changed with markets turned their focus on the upcoming earnings release.
Stateside, Federal Reserve on Monday reported an unexpectedly big 1.3% drop in U.S. September industrial production. Nearly half of that was blamed on lingering effects of Hurricane Ida.
In bond markets, treasury yields declined and a flattening in the yield curve paused. In Australia, the three-year bond yield was lower after the minutes from the central bank’s latest policy meeting put a dampener on early rate-hike bets.
The oil remain around multiyear highs. Brent rose 52 cents (+0.62%) at $84.82 per barrel and U.S WTI up 74 cents (+0.90%) at $83.18 a barrel.
Stock Market News
STOXX 50.. 4,157.75 (+0.15%)
CAC 40.. 6,670.75 (-0.04%)
DAX.. 15,470.58 (-0.03%)
FTSE.. 7,207.69 (+0.05%)
NIKKEI.. 29,215.52 (+0.65%)
HSI.. 25,774.03 (+1.43%)
SHCOMP.. 3,593.15 (+0.70%)
TAIEX.. 16,900.67 (+1.17%)
KOSPI.. 3,029.04 (+0.74%)
SENSEX.. 62,200.79 (+0.70%)
S&P/ASX 200.. 7,374.85 (-0.08%)
STI.. 3,194.30 (+0.65%)
DOW FUT.. 35,117.00 (-0.05%)
S&P FUT.. 4,477.25 (-0.01%)
NASDAQ FUT.. 15,284.50 (-0.04%)
For previous market review: Indonesian Stocks and Its Currency Gain, Foreign Capital Inflows Continue
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