Update COVID-19 in Indonesia: 365,240 confirmed infections, 12,617 deaths (19 October 2020)
19 October 2020 (closed)
USD/IDR (14,690) +0.00 +0.00%
EUR/IDR (17,369) +0.00 +0.00%
Jakarta Composite Index (5,126.33) +22.92 +0.45%
Both the Indonesian currency and the benchmark stock index (IHSG) continued their fall on Tuesday (24/09). Wall Street's weak performance on the last three trading days was a major factor that brought negative market sentiments to the Indonesia Stock Exchange (IDX). Even good openings in Europe were not able to push the IHSG back into green territory. The index fell 2.25 percent to 4,460.41 points. Foreign investors were net sellers of Indonesian stocks, while domestic investors were net buyers.
| Source: Bank Indonesia
The Indonesian rupiah fell again as market participants are concerned about various statements of Fed officials. These officials say that the stimulus program (quantitative easing) may be scaled back in October. apparently, a number of officials were unhappy with Bernanke's decision last week to continue the bond-buying program. Therefore, speculation has already returned to the markets that the program will end soon. The rupiah was also disturbed by speculation about many Indonesian companies buying US dollars before the end of the month as well as the estimation of a continued current account deficit of Indonesia.