Amid Mixed Asian Markets Indonesia's Main Index Rises 1.02%
After Wall Street turned back into the green zone on Tuesday (13/08) and was accompanied by continued rising stock indices in Europe, it provided good support for Asian stock indices on Wednesday (14/08), including Indonesia's main stock index (IHSG). Indonesian mining commodities and plantation stocks fell but these losses were offset by rising big cap stocks (particularly finance stocks) and speculation that Indonesia's central bank will keep its benchmark interest rate (BI rate) at 6.50 percent.
Both foreign and domestic investors recorded a net buy, which led to the 1.02 percent rise of the IHSG to 4,699.73 points. Trade volume rose, while total value of transactions fell.
The Indonesian rupiah continued its weakening trend against the US dollar. Market participants expect that if Bank Indonesia will not raise its benchmark interest rate in tomorrow's (15/08) board meeting, the rupiah will continue to weaken. The weakening of the rupiah is also caused by Japan's depreciating Yen (against the US dollar) after US retail sales were still positive and thus increased expectation that the Federal Reserve's quantitative easing program will end (which will translate into a stronger US dollar).
| Source: Bank IndonesiaAsian stock markets were mixed on Wednesday (14/08), partly because of a heavy storm in Hong Kong that disturbed trade as well as various businesses. Investors are also worried that the storm may impact on the pace of China's economic recovery. Japan's Nikkei is still up as prime minister Shinzo Abe may cut taxes for companies.
‹ Kembali ke Berita Bursa Efek
Bahas
Silakan login atau berlangganan untuk mengomentari kolom ini