The successful initial public offering (IPO) of the Alibaba Group Holding Ltd implied that shares of Softbank Corp - one of Alibaba’s largest shareholders - surged on Friday (19/09) but fell on Monday (22/09) as market participants engaged in profit taking. This had a negative impact on several stock indices in Asia. Furthermore, reports surfaced that China’s Finance Minister is not eager to see stimulus to boost China’s economic growth. Investors responded negatively to these reports.

Bank Indonesia's benchmark rupiah rate (Jakarta Interbank Spot Dollar Rate, abbreviated JISDOR) appreciated 0.11 percent to IDR 11,972 per US dollar on Monday (22/09). As it is expected that no extra stimulus is necessary in the Eurozone, the Euro appreciated. Similarly, the British pound appreciated amid an expected improvement in the economy of the UK. Meanwhile, the US dollar continued to depreciate as there will be no higher US interest rates soon.

| Source: Bank Indonesia

The yield on the government’s 10-year note fell to 8.2678 percent from 8.2971 percent, based on data from Indonesia Bond Pricing Agency.