Stock Market Update
Indonesian stocks wiped off some of Monday’s gains on Tuesday amid selloff in global markets while foreign investors continue to record net buy in equity market.
Jakarta composite declined 54.638 points (-0.861%) to 6,288.049 while LQ45 retreated 0.96% to 902.173. There were 30.893 billion shares traded worth of Rp17.577 trillion, including transaction of Rp1.827 trillion in negotiation market. Foreign investors purchased a net Rp968.06 billion in regular market. 191 shares rose while 331 declined and 138 unchanged.
The government raised Rp5 trillion in state securities auction today as targeted. Total incoming bids were 46.066 trillion.
Rupiah continued to strengthen with the tax amnesty policy has become a positive sentiment for currency market. According to JISDOR released Monday afternoon, strengthened 16 points (+0.11%) at 14,260 while spot rate rose 17 points (+0.12%) at 14,248.
Asian stocks were mixed while Europeans inched higher on Tuesday as investors shrugged off heavy sell-off on Wall Street amid worried about inflation due to supply chain disruptions and the rally in energy prices.
Japanese shares tumbled the most amid market disappointment with a new government and a host of threats to global economic growth.
The 10-year Treasury yield has remained at high levels and fears of rising inflation have fueled a tech stock rout on Wall Street.
China Banking and Insurance Regulatory Commission took another step to ease a power crunch and ensure supplies this winter by ordering banks and other financial institutions should prioritize lending to qualified mines and power plants so they can increase thermal coal and electricity output.
On the data front, Australia’s trade surplus increased to a fresh record high of A$15.08 billion in August 2021 from an upwardly revised A$12.65 billion in the previous month and exceeding market consensus of a surplus of A$10.3 billion. Exports jumped 4 % month-over-month to a new top of A$48.52 billion while imports fell 1% to A$33.45 billion.
The Reserve Bank of Australia kept the cash rate unchanged at a record low of 0.1% during its October meeting, as widely expected, while continuing its plans to trim the purchase of government bonds to A$4 billion a week until at least mid-February 2022.
In Europe, French industrial output climbed 1% in August from the previous month, outstripping a Reuters consensus forecast of 0.3%, and accelerating from the 0.5% monthly growth seen in July. Meanwhile, Business growth in the euro zone remained strong with IHS Markit’s final composite Purchasing Managers’ Index was revised slightly higher to 56.2 in September of 2021 from a preliminary of 56.1
Oil prices climbed on Tuesday, hitting their highest levels in at least three years, extending gains triggered during the previous session after the OPEC+ announced they had decided to keep a cap on crude supplies. Brent added 41 cents (+0.50%) at $81.67 per barrel and U.S WTI rose 20 cents (+0.26%) at $77.82 a barrel.
Stock Market Update
STOXX 50.. 4,019.93 (+0.59%)
CAC 40.. 6,510.51 (+0.51%)
DAX.. 15,071.54 (+0.23%)
FTSE.. 7,051.22 (+0.57%)
NIKKEI.. 27,822.12 (-2.19%)
HSI.. 24,104.15 (+0.28%)
TAIEX.. 16,460.75 (+0.32%)
S&P/ASX 200.. 7,248.36 (-0.41%)
SENSEX.. 59,535.81 (+0.40%)
STI.. 3,066.06 (-0.76%)
DOW FUT.. 33,944.00 (+0.22%)
S&P FUT.. 4,303.00 (+0.27%)
NASDAQ FUT.. 14,532.75 (+0.49%)
For previous market review: Jakarta Composite Rise to Their Highest in More than Six Months
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