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15 April 2025 (closed)
Jakarta Composite Index (6,441.68) +73.17 +1.15%
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Indonesian assets remain under pressure as the US 10-year treasury yield rose to 3.095 percent, touching a near seven-year peak. As a result the US dollar is at a five-month high. While the US dollar rally stalled last week after the release of weaker-than-expected US inflation (April data), the greenback's performance was lifted this week on the back of strong US consumer spending figures. It is having a big impact in Asia.
The Indonesian rupiah and benchmark Jakarta Composite Index are again under pressure on Tuesday (15/05) as the 10-year US treasury yield is again touching 3 percent, while tensions in the Middle East increase and uncertainty about US-China trade relations persist ahead of a meeting between US and Chinese officials in Washington later this week where trade talks resume. Meanwhile, crude oil prices recovered to around USD $71 per barrel, approaching a 3.5 years high, on the back of reduced supply as OPEC reported that the global oil glut has been virtually eliminated.
There is a big possibility that the central bank of Indonesia (Bank Indonesia) will raise its benchmark interest rate (the 7-day Reverse Repo Rate) at the monthly policy meeting in May (scheduled for 16-17 May 2018). Bank Indonesia Governor Agus Martowardojo confirmed that Bank Indonesia is currently preparing "strict and consistent monetary policy measures, including the adjustment of the benchmark rate, as the central bank gives priority to market confidence and macroeconomic stability".
The central bank of Indonesia (Bank Indonesia) announced that the nation's foreign exchange reserves stood at USD $124.9 billion at the end of April 2018, down from USD $126.0 billion one month earlier. This decline is in line with expectations as the central bank had already confirmed it is intervening in the market to defend the Indonesian rupiah amid broad-based US dollar strength.
Indonesian stocks, the rupiah and bonds are all under heavy pressure on Tuesday (08/05). Indonesia's benchmark Jakarta Composite Index plunged 2.12 percent to 5,760.35 points in the first trading session of the day. This performance is in stark contrast to most Asian stocks that are trading in green territory today. Meanwhile, the Indonesian rupiah has slipped above the IDR 14,000 per US dollar level. Lets take a look why.
Indonesia again led losses among Asian stock markets on Friday (04/05). The benchmark Jakarta Composite Index fell 1.13 percent to close at 5,792.35 points, its lowest position since August 2017. Most stocks in the Asia-Pacific region were in the red zone today as investors lack risk appetite ahead of the release of US payrolls data (due later today). Analysts expect to see a strong figure. Meanwhile, US unemployment is also expected to have eased slightly.
In line with expectations the US Federal Reserve left its benchmark interest rate unchanged in the range of 1.50 - 1.75 percent at the two-day May policy meeting (1-2 May 2018). The US central bank also said it expects the recent rise in inflation (approaching the Fed's target) to be sustained, thus markets are increasingly expecting an interest rate hike at the next policy meeting (scheduled for 12-13 June).
Indonesia Investments expects to see Bank Indonesia raising its benchmark interest rate at least once in 2018 in order to relieve pressures on the Indonesian rupiah. Rising expectations that the US Federal Reserve will implement four interest rate hikes in 2018, while the 10-year US treasury yield passed beyond the 3 percent line, have resulted in major pressures on emerging market assets, including Indonesia's rupiah and stocks.
Indonesia's Jakarta Composite Index continued to be plagued by a sell-off on Thursday (26/04) after already having fallen 2.40 percent on the preceding trading day. Today the benchmark index of Indonesia plunged another 2.81 percent to 5,909.20 points amid climbing US treasury yields (passing beyond the psychological boundary of three percent).
Indonesian stocks and the rupiah remained under heavy pressure on Wednesday (25/04) after the benchmark ten-year US bond yields passed beyond the 3 percent level (for the first time since early 2014), thus lifting the US dollar and causing capital outflows from emerging markets. While most Asian stocks are trading in red territory today, Indonesian stocks are the most badly affected. The benchmark Jakarta Composite Index tumbled 2.40 percent to 6,079.85 points.
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Today, the Jakarta Composite Index (IHSG) was under pressure from the start of the trading day. It was negatively affected by mixed Asian indices as well as yesterday's mixed American indices (where the Dow Jones Index weakened whereas other American indices gained). It made investors, in particular foreign investors, eager to sell parts of their stock portfolios. At the end of today's trading day, the IHSG stood at 4,994.52, a 0.34 percent fall compared to yesterday.
Positive moving stock indices in America and Europe on Tuesday (responding to various good corporate Q1-2013 data) were able to offset negative influence caused by weak manufacturing data from China and Europe. As a result Asian indices rose on Wednesday, including the Indonesia Stock Index (IHSG) which managed to reach beyond the psychological boundary of 5,000 points. The index ended at the level of 5,011.61, a 0.73 percent gain compared to the previous trading day.
Rising American and European stock indices last Friday, helped to support Asian stock indices today (22 April 2013), including the Indonesia stock index (IHSG). However, the ongoing drama brought on by last Saturday's earthquake in China, impacted on the China stock index as well as on other Asian stock indices, including the IHSG. As the IHSG has been showing signs that it is overbought, market participants preferred to sell portions of their stock portfolios, resulting in a limited fall of the IHSG.
Despite non-conducive market sentiments, there was no stopping to the Indonesia stock index (IHSG) as it managed to reach its next psychological boundary on Thursday 18 April: 5,000 points. A fall in American energy and telecommunication stocks on the previous day - after corporate data indicated less-than-expected performances in the first quarter - buried hopes that the Dow Jones Index would hit another peak. As a result Asian stock indices were mostly negative.
Indonesia's main stock index, the IHSG, continued its rally on Wednesday 17 April due to increased US monthly Housing Starts, decreased US inflation, as well as financial results of companies that indicated revenues and net profits exceeded expectations. Moreover, the IMF upgraded its outlook for East Asia's economic, which made investors buy stocks. Within Indonesia, there was enthusiasm regarding Q1-2013 corporate results and dividend payouts, which offset uncertainties about the new fuel policy.
Most of us expected the Jakarta composite index (IHSG) to weaken on Tuesday 16 April 2013 amid mixed Asian stock indices and significantly weakened American and European indices on Monday (that responded to reports about both China's slowing economic growth and weak economic figures of America). Moreover, bomb explosions at the finish line of the marathon of Boston were expected to complicate the performance of the IHSG. But concerns turned out in vain.
The Jakarta Composite Index (IHSG) did not make a good start on the first trading day of the new week. Similar to last week's Monday, it were falling American stock indices on Friday that impacted on Monday's IHSG performance: US Retail Sales, Michigan Consumer Sentiment, and commodity prices were topics that were not well-received by market players. Moreover, weak economic data from China made many foreign investor decide to sell their Indonesian assets.
Rising American stock indices on Wednesday provided solid support for stock indices around Asia the following day, including Indonesia's main index (IHSG). Amid this global positivity, market players were eager to add stocks to their portfolios. News from Japan, China and the Indonesian central bank's announcement to maintain its low benchmark interest rate were well-received, particularly by domestic market players. It made the IHSG rise to 4,924.26, a 0.96 percent gain.
The central bank of Indonesia (Bank Indonesia, or BI) decided to maintain its record low policy rate for the 15th straight month at 5.75 percent as it is considered consistent with its inflation target range of 3.5-5.5 percent in 2013 and 2014. The central bank also stated that the global economic recovery is accompanied by many uncertainties which result in a lower forecast for Indonesia's economic growth. The full press release of Bank Indonesia can be read below.
Although most Asian stock indices went up on Wednesday (10 April 2013), the Indonesia Stock Exchange (IHSG) could not cling on to their movement. In fact, even the main index of South Korea, a country plagued by political tensions, reported a rise. The IHSG was not able to follow suit due to investors' profit taking. Foreign market participants recorded a net sell, particularly Indonesia's blue chip stocks, which caused the index to end at 4,877.48, a 0.45 percent fall.
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