Stock Market Overview: Indonesian Stocks Slipped From ATH. Bank Indonesia Maintain Interest Rates Unchanged

Stock Market Overview

Indonesian stocks slightly retreated from all time high to 6,823.642
• Foreign investors purchased a net Rp1.56 trillion in regular market
• The Bank of Indonesia held its key 7-day reverse repurchase rate unchanged at an all-time low of 3.5% as expected
• Stocks in Asia and Europe were higher on Thursday with investors brace for U.S. inflation data due later in the day.
• U.S. Vice President Kamala Harris will meet allies and partners in Munich during the following, in a bid to deter a Russian attack on Ukraine

Jakarta composite slipped 10.964 points (-0.16%) to 6,823.642. LQ45 added 0.19% to 973.641. There were 31.112 billion shares traded worth of Rp15.478 trillion, including transaction of Rp1.514 trillion in negotiation market. 234 shares rose while 294 declined and 153 unchanged. Foreign investors purchased a net Rp1.56 trillion in regular market.

On currency, according to JISDOR Thursday afternoon, rupiah climbed 22 points (+0.15%) to 14,344. Spot rate added 15 points (+0.10%) at 14,340.

Bank Indonesia held its key 7-day reverse repurchase rate unchanged at an all-time low of 3.5% as expected, aiming to support the economic recovery from the pandemic and maintain exchange rate stability amid the low inflation outlook. The deposit and lending facility remain at 2.75% and 4.25% as well.

Coronavirus cases in the country continue to increase with Ministry of Health on Wednesday reported 46,843 new cases.

Corporate news

PT Indosterling Sarana Investa, the largest shareholder of TECH entered a Put Option Agreement for Rp600 billion rupiah with global alternative investment group, LDA Capital. The transaction will further enhance TECH’s access to additional accretive investments in the fast-growing Indonesian technology sector.

Global markets

Stocks in Asia and Europe were higher on Thursday with investors brace for U.S. inflation data due later in the day.

In Europe, Thursday will be another busy day for quarterly earnings, with a particular focus on the region’s banking sector.

Bond yields across the globe continued to ease from multi-year highs ahead of the closely watched U.S. inflation report.

In Eastern Europe, U.S. Vice President Kamala Harris will meet allies and partners in Munich during the following, in a bid to deter a Russian attack on Ukraine.

Commodity

Oil prices rose with U.S. West Texas Intermediate crude added 36 cents, or 0.40%, to $90.02 a barrel, while Brent crude rose 19 cents, or 0.23%, to $91.77 a barrel. U.S. crude oil supply data from the U.S. Energy Information Administration showed a draw of 4.756 million barrels. The drawdown was triple that projected by industry analysts and marked the second straight weekly drop in crude stocks.

Gold prices traded in a tight range on Thursday ahead of U.S. inflation data.

The cryptocurrency market was trading higher on news that Russia is eyeing to regulate digital assets instead of banning them.

Stock Market Overview

Major index this afternoon:

STOXX 50.. 4,238.80 (+0.83%)
CAC 40.. 7,168.05 (+0.52%)
DAX.. 15,599.96 (+0.76%)
FTSE.. 7,674.10 (+0.40%)

NIKKEI.. 27,696.08 (+0.42%)
HSI.. 24,860.31 (+0.12%)
SHCOMP.. 3,485.91 (+0.17%)
TAIEX.. 18,338.05 (+1.03%)
KOSPI.. 2,771.93 (+0.11%)
S&P/ASX 200.. 7,288.45 (+0.28%)
SENSEX.. 58,942.83 (+0.82%)
STI.. 3,425.33 (+0.15%)

DOW FUT.. 35,668.00 (+0.08%)
S&P FUT.. 4,568.50 (-0.20%)
NASDAQ FUT.. 14,984.50 (-0.36%)