Indonesian Stocks Break Record High Again Amid Capital Inflows and Surge in Commodities

Pasar Modal Update Terkini

• Jakarta composite ended at all time high despite selloffs in global markets.
• Foreign investors bought as much as Rp1.9 trillion in regular market.
• Energy sector soared more than 5% amid rally in global energy prices.
• Shares in Asia and Europe dropped on Friday and oil prices jumped on reports surrounding Ukraine nuclear plant fire.
• German trade surplus declined sharply to €3.5 billion in January of 2022 from €14.2 billion a year earlier.

Jakarta composite rose 59.926 points (+0.872%) to 6,928.328. LQ45 jumped 1.62% to 994.05. There were 27.07 billion shares traded worth of Rp21.633 trillion, including transaction of Rp3.505 trillion in negotiation market. 202 shares rose while 345 declined and 135 unchanged. Foreign investors bought as much as Rp1.9 trillion in regular market.

Energy sector soared as much as 6.87% amid rally in global energy prices, including oil, coal and natural gas. For the record, Russia-Ukraine war had pushed global price of thermal coal up nearly 30% in the past week to a record high.

On currency, according to JISDOR Friday afternoon, rupiah slipped 10 points (-0.07%) to 14,383. Spot rate stayed at 14,385.

Corporate news

• ADRO soared as much as 16.47% after the company announced a solid performance in 2021. The coal producer reported a core profit of US$1.25 billion, soared 210% from previous year of US$405 million.
• Through PT Dian Swastatika Sentosa Tbk (DSSA), Sinar Mas Group will invest US$200 million or Rp2.8 trillion to acquire PT Elang Andalan Nusantara, a company that controlled the digital wallet application, DANA.
• MEDC has set its capital expenditure budget to US$325 million, to be split into oil and gas of US$275 million and electricity of US$50 million, to boost its performance after taking over shares of ConocoPhillips Indonesia Holding Ltd from Phillips International Investments Inc.

Global markets

• Shares in Asia and Europe dropped on Friday and oil prices jumped on reports surrounding Ukraine nuclear plant fire.
• Investors sought refuge in safe-haven U.S. Treasuries, sending yields on benchmark 10-year yields as much as 14 basis points lower to 1.7%. They later inched back up to 1.78%.
• On economic data front, the U.S. employment report on Friday is expected to show another month of strong job growth.
• In Europe, German trade surplus declined sharply to €3.5 billion in January of 2022 from €14.2 billion a year earlier, the lowest since December 2000 as imports surged 25.6% to €105.8 billion and exports rose at a softer 11% to €109.2 billion.
• Federal Reserve Chair Jerome Powell on Thursday repeated his comments from Wednesday that he would back an initial quarter percentage point increase in the bank’s benchmark rate.

Commodity

• Oil prices jumped on Friday after ending steady a day earlier, with the market also focused on whether the OPEC+ producers, including Saudi Arabia and Russia, would increase output from January.
• Brent crude futures rose 0.7% to $111.23 per barrel while West Texas Intermediate crude futures, the U.S. oil benchmark, jumped 1.01% to trade at $108.76 per barrel.
• Nickel hovered close to a seven-year high with prices on track for their biggest weekly rise since August 2019, Three-month aluminium on the London Metal Exchange hit an all time high while benchmark iron ore futures in China clocked their biggest weekly gain in more than two years at nearly 20% on supply disruption fears.
• Gold prices also rose on Friday, heading toward their best weekly gain since May 2021.

Pasar Modal Update Terkini

Major index this afternoon:

STOXX 50.. 3,663.39 (-2.10%)
CAC 40.. 6,221.79 (-2.45%)
DAX.. 13,392.35 (-2.23%)
FTSE.. 7,113.02 (-1.74%)

NIKKEI.. 25,985.47 (-2.23%)
HSI.. 21,905.29 (-2.50%)
SHCOMP.. 3,447.65 (-0.96%)
TAIEX.. 17,736.52 (-1.10%)
KOSPI.. 2,713.43 (-1.22%)
S&P/ASX 200.. 7,110.83 (-0.57%)
SENSEX.. 54,920.23 (-0.33%)
STI.. 3,235.29 (-0.56%)

DOW FUT.. 33,500.00 (-0.69%)
S&P FUT.. 4,326.75 (-0.75%)
NASDAQ FUT.. 13,943.25 (-0.62%)