Jakarta Composite Rise to Their Highest in More than Six Months

Stock Market Today

Indonesian stocks closed the third quarter at the highest level since early March amid window dressing activity. Foreign investors made a net purchase of nearly Rp2 trillion in regular market but as much as 6 trillion left BANK through negotiation.

Jakarta composite rose 124.389 points (+2.018%) to 6,286.943 while LQ45 jumped 2.79% to 894.678. There were 27.445 billion shares traded worth of Rp23.922 trillion, including transaction of Rp2.337 trillion in negotiation market. Foreign investors purchased a net Rp1.94 trillion in regular market. 279 shares rose while 232 declined and 145 unchanged.

Coal shares continued its rally on the back of soaring coal prices. Markets for thermal coal, used for power generation, are booming around the world as a global recovery from the economic impacts of the COVID-19 pandemic drives up demand for energy.

On corporate news, IRRA signed the agreement to acquire 51% One Ject shares, the transactions is expected to be completed by 1H22.

According to JISDOR released Thursday afternoon, weakened 14 points (-0.10%) at 14,321 while spot rate retreated 20 points (-0.14%) at 14,310.

Stocks in Asia and Europe were higher on Thursday, brushing off market jitters with investors turned focus to economic data.

Investors also monitored shares of developer China Evergrande Group, after Reuters reported that some bondholders of a dollar note with a coupon due Wednesday said they hadn’t received payment as Thursday morning in Hong Kong.

On the data front, China’s official manufacturing Purchasing Managers’ Index for September came in at 49.6 on Thursday, below the 50 mark that separates growth from contraction.

From Europe, official data revealed Thursday that the U.K. economy grew by 5.5% in the second quarter, outstripping a previous estimate of 4.8% GDP growth.

Meanwhile, Labor market in German grew in a slower pace in September. Unemployment in Europe’s largest economy fell by 30,000 this month, keeping the jobless rate at 5.5%. In the euro area, joblessness declined to 7.5% in August.

Oil rose after two-day gains despite EIA reported crude inventories were up by 4.6 million barrels in the week to Sept. 24 to 418.5 million, compared with analysts’ expectations in a Reuters poll for a 1.7 million-barrel drop. Brent rose 21 cents (+0.27%) at $78.85 per barrel and U.S WTI climbed 33 cent (+0.44%) at $75.16 a barrel.

Stock Market Today

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