Supported by enthousiastic foreign investors, the benchmark stock index of Indonesia (Jakarta Composite Index or also known as IHSG) managed to climb 0.61 percent to 4,942.16 points on Tuesday (03/06). Particularly consumer, trade and mining stocks were popular on today's trading day. It is interesting to note that this growth happened amid sharp rupiah depreciation as the currency still feels the negative impact of the USD $1.97 billion April 2014 trade deficit that was released yesterday (02/06).
Moreover, a number of Asian stock indices were up and thus provided good support for the IHSG (although generally Asian indices were mixed today). The continued depreciation of the Japanese yen provided support for the Nikkei index. Other positive news in Asia included the higher Chinese non manufacturing PMI and higher Australia's current account as well as slightly higher retail sales.
Bank Indonesia's benchmark rupiah rate (Jakarta Interbank Spot Dollar Rate, abbreviated JISDOR) depreciated 0.56 percent to IDR 11,806 against the US dollar on Tuesday (03/06).