For the first time since 2008 the Organization of Petroleum Exporting Countries (OPEC) agreed to cut crude oil output on Wednesday (30/11) with especially Saudi Arabia ready to accept a big cut in national oil production. "Unlimited" crude oil production led to the supply glut that gave rise to persistently low oil prices and deflationary pressures. Asian stocks climbed on the back of this oil production cut. In early Asian trading on Thursday (01/12), gainers were led by mining, oil and coal producers.

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Indonesian stocks continued to decline on Tuesday (15/11), for the third consecutive day. After a promising start - Indonesia's Jakarta Composite Index (IHSG) rose about 1 percent in today's first trading session - the index finished the day down 0.73 percent to 5,078.50 points. Key matters that cause this selloff are the US dollar approaching a 14-year high as well as expectation of rising inflation in the USA now Donald Trump has been elected next US president. This cocktail gives rise to capital outflows from emerging markets to the USA.

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Donald Trump becoming US president causes investors to re-evaluate emerging market assets, and Indonesia is among the biggest victims. Trump is eager to make the USA "great again", partly by using the protectionist approach. Considering Trump may be supported by the Republican-controlled US Congress, investors see a real chance for realization of Trump's plans (which include infrastructure development, tax cuts, as well as the exiting of free trade and environment deals). This has a big impact on emerging markets.

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Asian stocks are under heavy pressure on Wednesday (02/11) as the latest polls in the USA are suggesting that the US presidential race between market favorite Hillary Clinton and controversial candidate Donald Trump is closer than initially expected. Narrowing polls cause concern about future US economic policy after the election on 8 November 2016. Earlier, Trump expressed criticism on the Federal Reserve, claiming that the US central bank is engaged in politics by maintaining the loose monetary policy.

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Indonesian property and real estate developer Lamicitra Nusantara announced its plan to delist from the Indonesia Stock Exchange (IDX). Another listed company will also voluntarily delist from the IDX. However, Samsul Hidayat, Director of Corporate Listing at the IDX, refrained from naming this company. He did confirm that two companies - including Lamicitra Nusantara - have visited the IDX to discuss the delisting.

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The Indonesia Stock Exchange (IDX) targets to see a total of 35 initial public offerings (IPOs) in 2017. To achieve this target the IDX will raise efforts to encourage Indonesian companies to go public. Besides these IPOs, the IDX also targets to see 60 companies to conduct a rights issue next year. These targets were announced by IDX Director Tito Sulistio after the extraordinary general meeting on Thursday (20/10). So far in 2016, only 12 companies went public in Indonesia. This poor score is the result of high uncertainty on the global financial markets.

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Indonesian assets are leading declines in Asia on Wednesday's trading day (05/10) as (global) markets are digesting the latest reports that the European Central Bank (ECB) may withdraw its bond buying program, while statements from US Federal Reserve officials strengthened the case for a Fed Funds Rate hike before the year-end. Lastly, the International Monetary Fund (IMF) cut its forecast for US economic growth in 2016 to 1.6 percent (y/y) from its earlier estimate of 2.2 percent (y/y).

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The Indonesia Stock Exchange (IDX) ranked state-controlled mining company Aneka Tambang (or, Antam) as "the IDX Best Blue 2016". This ranking determines the best performing companies - listed on the IDX - in the period September 2015 to August 2016 based on matters including fundamental analyses, IDX monitoring, investor confidence, and active trading. Antam will have a template hanging on the walls of all IDX branches across Indonesia, a move that should encourage other listed companies to enhance their corporate performance.

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Indonesian assets performed very well on Monday (03/10). Indonesia's benchmark Jakarta Composite Index surged 1.85 percent to 5,463.92 points, while the Indonesian rupiah appreciated 0.46 percent to IDR 12,983 per US dollar (Bloomberg Dollar Index). Overall, assets are improving worldwide due to easing concerns about the Deutsche Bank case, stabilizing oil prices, and China's stabilizing manufacturing activity. Indonesian assets, however, performed best supported by the government's successful tax amnesty program.

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The Indonesia Stock Exchange (IDX) encourages those companies listed in Indonesia to list their shares on other exchanges as well, particularly the New York Stock Exchange (NYSE). Through such dual listings Indonesian companies can manage to attract more global attention and investors. IDX President Director Tito Sulistio said the IDX has sent 100 invitations to locally-listed companies to visit the NYSE in order to learn more about the possibility to engage in a dual listing.

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The week ended well for both the Indonesian rupiah exchange rate and the benchmark Jakarta Composite Index (IHSG). Based on the Bloomberg Dollar Index, the rupiah appreciated 0.30 percent to IDR 11,413 per US dollar at the end of Friday's trading day (16/05). Meanwhile, the IHSG surged 0.80 percent to finish just above the psychological level of 5,000 points. The good performance was supported by investors' positive response towards the latest political developments in Indonesia.

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The benchmark stock index of Indonesia - known as the Jakarta Composite Index or IHSG - rose 0.17 percent to 4,921.39 points on Tuesday (13/05), impacted by investors' reaction to positive earnings reports of Indonesian coal miners in the first quarter of 2014. Today, foreign investors recorded net buying of IDR 64 billion (USD $5.6 million) and accounted for 31 percent of trading activity. However, investors remain cautious ahead of the presidential election that is scheduled for 9 July 2014 and wait for more clarity about the (vice) presidential candidates that will compete.

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ICRA Indonesia, an independent credit rating agency and subsidiary of ICRA Ltd. (associate of Moody's Investors Service), publishes a monthly newsletter which provides an update on the financial and economic developments in Indonesia of the last month. In the April 2014 edition, a number of important topics that are monitored include Indonesia's inflation rate, the trade balance, the BI rate, the IDR rupiah exchange rate, and gross domestic product (GDP) growth. Below is an excerpt of the newsletter:

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Contrary to most Asian stock indices, the benchmark stock index of Indonesia (known as IHSG or the Jakarta Composite Index) declined on Thursday (08/05). Positive sentiments that were provided by the BI rate (Indonesia's benchmark interest rate) that was kept at 7.50% in today's Bank Indonesia Board of Governors' Meeting, and China's higher-than-expected trade balance in April 2014 (USD $18.5 billion), were offset by the depreciating rupiah exchange rate and foreign net selling of Indonesian stocks. The IHSG fell 0.02 percent to 4,860.89 points.

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Completely opposite to our expectations, the benchmark stock index of Indonesia (known as the Jakarta Composite Index or IHSG) managed to climb 0.57 percent to 4,862.02 points on Wednesday (07/05). The gain was unexpected as there were no clear factors that could provide positive market sentiments. Moreover, today's Asian stock indices were mostly down. Coincidence or not, tomorrow Bank Indonesia will announce whether its benchmark interest rate (BI rate) - currently set at 7.50 percent - will be changed or maintained.

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As I have mentioned before, Indonesia's benchmark stock index (better known as the Jakarta Composite Index or IHSG) runs the risk of declining amid a lack of domestic or external positive market sentiments. Despite the indices on Wall Street being up on the higher than expected markit services PMI as well as ISM-non manufacturing PMI, it was unable to uplift sentiments in Jakarta. Market participants seem to wait & see in the first week of May 2014, evidenced by the reduced trading volume and value of transactions.

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Indonesia Investments presents a selection of corporate earnings reports (covering the first quarter of 2014) of Indonesian companies that are listed on the Indonesia Stock Exchange (IDX), categorized by sector: (1) agriculture and mining, (2) basic industry and chemicals, (3) miscellaneous industry, (4) consumer goods, (5) property and real estate, (6) infrastructure, utilities and transportation, (7) finance, and (8) trade, services and investment. The tables display both net profit (loss) and revenues, together with year-on-year (yoy) growth.

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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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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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