JP Morgan and Standard & Poor's Provide Boost for Asian Markets

Agriculture and banking stocks were particularly strong on today's trading day (11/02), while Indonesia's trade, consumer and infrastructure sectoral indices declined.

The market reacted positively to S&P’s released a report that stated that Indonesian banks will be shielded from a depreciating rupiah and rising borrowing costs in 2014: “We expect most rated banks to maintain solid business position, sound capitalization and good funding and liquidity profile this year.”

Besides the positive assessment of JP Morgan, there was more good news from China where PetroChina found 308.2 billion cubic meters of natural gas in the Sichuan basin in southwest China.

The Indonesian rupiah exchange rate depreciated as market participants are in anticipation of the first speech of Janet Yellen, the new Head of the Federal Reserve. The central bank's Jakarta Interbank Spot Dollar Rate (JISDOR) weakened 0.06 percent to IDR 12,174 per US dollar on Tuesday (11/02).

| Source: Bank Indonesia

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