Update Pasar Modal 10 Maret
• Jakarta composite went on rollercoaster ride before closing with solid gains.
• Indonesia’s Retail Sales improved further to 15.2% on the year in January vs. a 13.8% rise seen in December.
• MTEL reported 2021 net income of Rp1.38 trillion, increased 129.4% from Rp602 billion in previous year. The company plans to return a maximum of 70% of the profit to investors in the form of dividends.
• Asia Pacific stocks soared on Thursday and were in tune with a rebound in global shares, following overnight gains in Wall Street after oil prices dropped sharply.
• European stocks gave up some of prior-session rally, ahead of a key European Central Bank meeting, and as oil prices turned higher.
• Oil prices rebounded but rose by only a few cents per barrel after Wednesday’s plunge of more than $15.
• Palm oil continue to surge to all-time highs following Indonesia’s announcement to further restrict exports of palm oil from March 10 onwards to increase domestic supplies.
Jakarta composite rose 59.567 points (+0.868%) to 6,924.008. LQ45 rose 0.38% to 997.14. There were 23.806 billion shares traded worth of Rp16.951 trillion, including transaction of Rp2.099 trillion in negotiation market. 298 shares rose while 217 declined and 164 unchanged. Foreign investors purchased a net Rp286.41 billion in regular market.
On currency, according to JISDOR Thursday afternoon, rupiah strengthened 73 points (+0.51%) to 14,298. Spot rate strengthened 70 points (+0.49%) to 14,275.
Indonesia’s Retail Sales improved further to 15.2% on the year in January vs. a 13.8% rise seen in December, the latest survey conducted by Bank Indonesia showed on Thursday.
Corporate news
- PPRE recorded 26.7% increase in net profit throughout 2021 to Rp146.8 billion from Rp115.8 billion in 2020.
- MTEL reported 2021 net income of Rp1.38 trillion, increased 129.4% from Rp602 billion in previous year. The company plans to return a maximum of 70% of the profit to investors in the form of dividends.
- PT Multipolar Technology Tbk (MLPT) and Mitsui & Co Ltd plans to sell the entire shares of PT Graha Teknologi Nusantara to ECX Europe and ECX Asia for $37.60 million.
- IRRA announced an extension for its shares buyback that in November 2021 to May 24, 2022.
Global markets
- Asia Pacific stocks soared on Thursday and were in tune with a rebound in global shares, following overnight gains in Wall Street after oil prices dropped sharply.
- Meanwhile, European stocks gave up some of prior-session rally, ahead of a key European Central Bank meeting, and as oil prices turned higher.
- Goldman Sachs on Thursday cut its euro-area growth forecast for 2022 to 2.5% from 3.9%, citing direct fallout from the Russia-Ukraine war.
- U.S. Labor Department reported Wednesday that Demand for workers remained close to a record high at the start of the year despite the disruptions of the Omicron Covid-19 variant, another sign of a muted impact of the variant on the U.S. economy. There were 11.3 million job openings in January, Labor Department says, down slightly from prior month.
- On the geopolitical front, Russia’s foreign minister Sergei Lavrov arrived in Turkey ahead of planned talks on Thursday with his Ukrainian counterpart Dmytro Kuleba for what will be the first meeting between the two since Russia invaded Ukraine two weeks ago.
- Investors are waiting on a European Central Bank meeting later in the day for any signs on how Russia’s invasion of Ukraine will affect monetary policy. U.S. inflation figures are also due, which could further guide expectations for the Federal Reserve’s meeting next week.
Commodity
- Oil prices rebounded but rose by only a bucks per barrel after Wednesday’s plunge of more than $15. United Arab Emirates said it is committed to major producers’ pact to add 400,000 barrels per day of supply monthly, hours after UAE’s ambassador to Washington said his country favoured a bigger increase.
- Brent crude futures rose $3.54 or 3.19% to $114.68 per barrel while West Texas Intermediate crude futures, the U.S. oil benchmark, added $2.25 or 2.07% to trade at $110.95 per barrel.
- Gold was down below $2,000 as U.S. Treasury yields rose and oil fell after comments from the UAE.
- Palm oil continue to surge to all-time highs following Indonesia’s announcement to further restrict exports of palm oil from March 10 onwards to increase domestic supplies, in a bid to limit a surge in domestic cooking oil prices. The country requires companies to sell 30% of their planned exports of CPO and palm olein domestically, up from the previous 20% DMO scheme.
Update Pasar Modal 10 Maret
Major index this afternoon:
STOXX 50.. 3,700.14 (-1.75%)
CAC 40.. 6,286.62 (-1.58%)
DAX.. 13,610.39 (-1.72%)
FTSE.. 7,136.51 (-0.75%)
NIKKEI.. 25,690.40 (+3.94%)
HSI.. 20,890.26 (+1.27%)
SHCOMP.. 3,296.09 (+1.22%)
TAIEX.. 17,433.20 (+2.46%)
KOSPI.. 2,680.32 (+2.21%)
S&P/ASX 200.. 7,130.83 (+1.10%)
SENSEX.. 55,149.42 (+0.92%)
STI.. 3,234.97 (+1.24%)
DOW FUT.. 33,041.00 (-0.67%)
S&P FUT.. 4,238.50 (-0.66%)
NASDAQ FUT.. 13,629.75 (-0.75%)
For previous market review: Indonesian Stocks Break Record High Again Amid Capital Inflows and Surge in Commodities
You could also read the article about our last event : Indonesia Bisa Gantikan Rusia Pasok Komoditas
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