Indonesia Stock Index Up but Rupiah Exchange Rate Down on Tuesday
Indonesia's benchmark stock index (the Jakarta Composite Index or IHSG) continued yesterday's rise on today's trading day (10/12), supported by indices on Wall Street that climbed due to the lower VIX index (Chicago Board Options Exchange Market Volatility Index) although Asia's stock indices were mixed, while the Indonesia rupiah exchange rate continued its decline. Indonesia's manufacturing stocks were up along with consumer, automotive and processed foods stocks.
The IHSG rose 1.46 percent to 4,275.68 points on Tuesday (10/12).
The Indonesia rupiah exchange rate continued its depreciation against the US dollar as market participants are waiting for Bank Indonesia's Board of Governors' Meeting (RDG) scheduled for 12 December 2013. Although there are no releases of US economic data at the start of this week, the US dollar continued to strengthen due to last week's positive employment data (and impacted on the rupiah).
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