Update COVID-19 in Indonesia: 4,066,404 confirmed infections, 131,372 deaths (28 August 2021)
15 September 2021 (closed)
Jakarta Composite Index (6,110.23) -18.86 -0.31%
USD/IDR (14,146) -6.00 -0.04%
EUR/IDR (17,335) +57.05 +0.33%
Indonesia's benchmark stock index, the Jakarta Composite Index (IHSG), was unable to continue its rising trend of the last week on Tuesday's trading day (22/10). Mixed indices in the United States on the previous day in combination with falling indices in Asia impacted negatively on the IHSG. Other factors that contributed to the IHSG's 1.43 percent downslide to 4,512.74 on Tuesday were weak openings of stock indices in Europe as well as continued foreign selling of Indonesian stocks.
| Source: Bank Indonesia
The Indonesian rupiah exchange rate, however, appreciated against the US dollar as speculation emerged that economic data of the USA, which has not been released due to the country's shutdown, is not too positive. This subsequently increases expectation that the Federal Reserve will not alter its monthly massive USD $85 billion bond-buying program (quantitative easing), and thus resulted in a depreciating US dollar.
Asian stocks were generally down on Tuesday (22/10) due to the influence of mixed indices on Wall Street on the previous day. Investors in Asia seem to be waiting for US economic data first before deciding to purchase Asian stocks. Another factor that impacted negatively on Asian markets were weak financial results (Q3-2013) of a number of companies, which include China Mobile Ltd and Shinhan Financial Group Co. Those weak earnings reports even offset the positive message that was conveyed in the financial data release of BHP Biliton Ltd, which was above expectation.