Update COVID-19 in Indonesia: 365,240 confirmed infections, 12,617 deaths (19 October 2020)
19 October 2020 (closed)
USD/IDR (14,658) -71.01 -0.48%
EUR/IDR (17,357) +24.17 +0.14%
Jakarta Composite Index (5,126.33) +22.92 +0.45%
Although most Asian stock indices went up on Wednesday (10 April 2013), the Indonesia Stock Exchange (IHSG) could not cling on to their movement. In fact, even the main index of South Korea, a country plagued by political tensions, reported a rise. The IHSG was not able to follow suit due to investors' profit taking. Foreign market participants recorded a net sell, particularly Indonesia's blue chip stocks, which caused the index to end at 4,877.48, a 0.45 percent fall.
The IDR rupiah continued its strengthening movement brought on due to optimism concerning the Bank of Japan's and Federal Reserve's bond buying programs, as well as expected monetary easing by China's central Bank (People's Bank of China, or PBOC). China's March inflation rate recorded a significant decline, and this might be a reason for the government to make room for a less strict policy approach.| Source: Bank Indonesia
Asian stock indices increased on Wednesday responding to China's export-import numbers. The country reported increased exports (although the trade balance actually fell unexpectedly in March) which may be a sign of expanding Chinese companies. China's rise in imports is assumed to indicate the population's rising demand. Asian stock indices also rose because investors are of the opinion that corporate Q1-2013 company reports are promising (supported by the Alcoa Inc. Q1 results).