Update COVID-19 in Indonesia: 2,956 confirmed infections, 240 deaths (8 April 2020)
8 April 2020 (closed)
USD/IDR (16,245) -165.00 -1.01%
EUR/IDR (17,659) -75.16 -0.42%
Jakarta Composite Index (4,626.69) -151.94 -3.18%
On Tuesday's trading day, the Indonesia Stock Exchange (IHSG) was not able to maintain its record breaking upward movement. China's possible decision to limit credit growth in the property sector and the election in Italy contributed significantly to the decline of the IHSG. Moreover, it was influenced by poor openings of European stock markets. Investors thus decided to engage in profit taking, while waiting for further global developments.
During today's trading day, the IHSG reached its highest level (4,685.00) at the start of session one and its lowest level (4,646.59) at the end of the same session. In the end, it stood at 4,663.03, an 0.70 percent decline. Trade volume and total value of transactions decreased, with foreign investors mostly buying and domestic investors mostly selling their Indonesian assets.
The IDR rupiah gained following speculation that the Federal Reserve will continue its bond buying program in order to aid the economy. Indonesia's currency is also supported by the recently unveiled recommendation of Indonesia's central bank that orders exporters to channel export revenues through local banks, instead of foreign ones. But sentiments related to the election in Italy limited the rupiah's gain.
Similarly, other Asian stock markets turned negative, responding to American stock indices that weakened due to Italy's election result. The result is expected to endanger economic reform in the country. Negative impact also came from China that might fasten its policy to limit the property sector in a legislative meeting next week.
The IHSG might decline further tomorrow and drift away from the psychological boundary of 4,700 unless positive global news will uplift market participants' spirits.
Top Movers – Tuesday 26 February 2013
|• Centris Multipersada Pratama
|• Akasha Wira International
|• Saham Seri B Hanson Internation||11.43%|
|• Tigaraksa Satria||11.36%|
|• Lionmesh Prima
|• Titan Kimia Nusantara|| 17.61%
|• Chandra Asri Petrochemical
|• Century Textile Industry||11.11%|