Update COVID-19 in Indonesia: 70,736 confirmed infections, 3,417 deaths (9 July 2020)
6 July 2020 (closed)
USD/IDR (14,501) +55.01 +0.38%
EUR/IDR (16,343) -41.31 -0.25%
Jakarta Composite Index (5,052.79) -23.38 -0.46%
In line with global stock indices, the benchmark index of Indonesia (Jakarta Composite Index, abbreviated IHSG) declined on Thursday’s trading day. Falling indices on Wall Street were a major concern to global investors as weak corporate and economic data may indicate that the economic recovery of the USA is not as structural as previously assumed. The NY empire state manufacturing index, US retail sales, US chain store sales, and US business inventories all weakened and ‘infected’ Asian stock indices, including the IHSG.
Foreign investors continued to engage in net selling of Indonesian stocks. On Thursday (16/10), they sold IDR 327.04 billion (USD $27.3 million) more shares than they bought. The appreciating rupiah exchange rate was unable to push the index back to the green zone. Only the basic industries, property, and mining sectors ended higher on today’s trading day.
The Jakarta Composite Index fell 0.23 percent to 4,951.61 points.
Japan was the biggest victim amid global volatility on today’s trading day. The Nikkei plunged over two percent - a five-month low - as investors rushed to safe havens such as the yen and bonds. A stronger yen undermines profits of Japan’s big exporters. The Bank of Japan may introduce additional easing measures to support the sluggish economy.
Bank Indonesia's benchmark rupiah rate (Jakarta Interbank Spot Dollar Rate, abbreviated JISDOR) appreciated 0.18 percent to IDR 12,207 per US dollar on Thursday (16/10).