24 February 2020 (closed)
USD/IDR (13,893) +30.00 +0.22%
EUR/IDR (15,089) +80.40 +0.54%
Jakarta Composite Index (5,807.05) -75.21 -1.28%
Rising indices on Wall Street on Tuesday (04/03) impacted positively on Asian indices the following day, including Indonesia's benchmark stock index (known as the Jakarta Composite Index or IHSG). As the political tensions in Ukraine have somewhat eased since Russian President Vladimir Putin said that Russia was not seeking to escalate the conflict, investors were again eager to invest in emerging market stocks; foreign investors were net buyers. Today's performance of the IHSG left a gap at 4,602-4,621 points.
At the end of Wednesday's trading day (05/03), the IHSG had risen 1.26 percent to 4,659.17 points.
Apart from easing tension in Ukraine, other factors that contributed to the positive performance of Asian indices were Australia's GDP, which rose 2.8 percent (yoy) in the fourth quarter of 2013 (more than analysts' expectations), and Australia's AiG Performance of Services index that advanced to a reading of 55.2 in February 2014, the highest level in six years. Furthermore, the continued depreciation of the yen brought positive market sentiments, particularly on the Nikkei Index. However, growth was limited as China's Premier Li Keqiang expects slowing economic growth in the world's second-largest economy in 2014 (to 7.5 percent).