This section has been discontinued. Daily updates on the performance of the Jakarta Composite Index (Indonesia Stock Exchange) are now presented in our Today's Headlines section.
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The benchmark Indonesia stock index (IHSG or Jakarta Composite Index) moved sideways on Monday's trading day (05/05) influenced by Indonesia's disappointing GDP growth result in the first quarter of 2014 in combination with mixed Asian stock indices. At the start of the day, the index was up as investors believed that the Q1-2014 GDP growth result would be in line with expectations. However, after Statistics Indonesia announced the growth rate, the IHSG fell, although stayed in the green zone.
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The Indonesian rupiah exchange rate ended the week with a 0.32 percent gain to IDR 11,565 per US dollar on Friday (25/04) based on the Bloomberg Dollar Index. Despite still high local demand for US dollars ahead of the month-end (for reasons of profit repatriation, imports and debt repayments), the rupiah managed to appreciate as (foreign and domestic) investments in Indonesia were reported to have reached a new record at IDR 106.6 trillion (USD $9.4 billion) in the first quarter of 2014.
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Mostly declining Asian stock indices, led by Hong Kong's Hang Seng Index (HSI) and the Shanghai Stock Exchange Composite, had a negative influence on the performance of Indonesia's benchmark stock index (known as the Jakarta Composite Index or IHSG) on Wednesday (23/04). Moreover, today's sharp rupiah depreciation contributed to the 0.10 percent decline to 4,893.15 points. Based on the Bloomberg Dollar Index, the Indonesian rupiah exchange rate depreciated 0.94 percent to 11,630 per US dollar.
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Despite sharp rupiah depreciation and generally falling Asian stock indices, the benchmark stock index of Indonesia (Jakarta Composite Index or IHSG) managed to climb 0.12 percent to 4,898.21 points on Tuesday (22/04). Factors that contributed to push the IHSG into green territory were dividend payment announcements and optimism regarding companies' financial performances in the first quarter of 2014. Foreign investors accounted for 34 percent of today’s total trading, recording net buying of IDR 1 trillion (USD $87.7 million).
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The views expressed in these financial columns are the views of the authors or the interviewed persons only and therefore do not necessarily reflect the views of Indonesia Investments. The authors are free to ventilate their opinions about the Indonesian financial markets. Facts presented in these columns are the result of the author's own research or indicated sources. The content of these articles should not be regarded as investment advice, read disclaimer.
