Amid mixed Asian Stock Markets Indonesia's IHSG Books a Small Gain
Despite negative influence of stock markets in America, Europe and China, the Indonesia Stock Exchange (IHSG) managed to record a gain. During Friday's intraday trade, Indonesia's main indicator moved flat. However, stimulus from indices in Japan, Australia and Singapore, made it rise. Foreigners continued to buy Indonesian assets, while various companies reported good corporate results (such as Bank Rakyat Indonesia, Bank Danamon, Bank Cimb Niaga, Hero Supermarket).
The IHSG reached its highest level (4,651.12) at the end of session 2, and its lowest level (4,626.32) at the end of session one. At the end of Friday's trading day, it stood at 4,651.12, a 0.40 percent gain.
The IDR rupiah weakened after the Federal Reserve (through its Federal Open Market Committee) hinted at limiting the monthly bond buying program. The rupiah's loss was limited, however, after the United States had reported some poor economic figures, instantly igniting speculation that the Federal Reserve will continue its current monetary policy. The market was affected positively by the statement of the governor of Australia's central bank, Glenn Stevens, who said that China's economy is doing well and the Australian dollar (AUD) is stable, and as such does not need intervention of the central bank. Market participants also responded positively to Germany's minister of finance, Wolfgang Schaeuble, who stated that Germany is fine with the current strengthening of the Euro.
Asian stock markets were mixed but with a strengthening trend, except for Shanghai and Hong Kong's Hang Seng which both weakened after China's House Prices Index increased and triggered speculation that China's government will immediately cap ownership in the property industry.
European indices turned positive responding to a higher Business Climate Index and Business Expectations in Germany, although its gross domestic product is still poor. Italy also reported a gain in consumer confidence.
American stock markets turned positive after seeing Germany's economic data and various company reports that indicated higher than expected results, such as Hewlett-Packard, American International Group Inc, and Texas Instruments Inc. Currently, 73 percent of all companies in the S&P500 have already reported their profit results for the year 2012, and 64 percent of these companies have exceeded sales expectations.
Top Movers – Friday 22 February 2013
| Company | Change |
| • Centrin Online |
17.65% |
| • Perdana Karya Perkasa |
9.76% |
| • Bank Bukopin | 8.70% |
| • Pikko Land Development | 8.57% |
| Company | Change |
| • Centris Multipersada Pratama |
20.00% |
| • Ancora Indonesia Resources | 17.65% |
| • Duta Pertiwi Nusantara | 7.14% |
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