Update COVID-19 in Indonesia: 497,668 confirmed infections, 15,884 deaths (23 November 2020)
23 November 2020 (closed)
USD/IDR (14,164) -14.00 -0.10%
EUR/IDR (17,105) +156.06 +0.92%
Jakarta Composite Index (5,652.76) +81.11 +1.46%
As had been hoped, after closing the gap at 4.375-4.403, Indonesia's benchmark stock index (IHSG) did not continue its fall at the same pace as it had in the past couple of days. Investors were still cautious, however, and took a wait and see attitude. Foreign investors were net sellers of Indonesian stocks, while the rupiah exchange rate kept depreciating. Moreover, Asian stock indices were mixed and thus provided no good support for the IHSG. The index fell 0.02 percent to 4,405.89. Domestic investors were net buyers of Indonesian stocks.
The Indonesian rupiah continued its weakening trend although the decline has been limited in the last few days as the sell-off of the currency began to decrease. Issues that contribute to the rupiah's fall today are ongoing concerns about the end of the Federal Reserve's quantitative easing program and the US debt ceiling.| Source: Bank Indonesia
Concerns about a shutdown of the US economy if discussions about the state budget will not be fruitful plagued Asian markets on Thursday (26/09). However, Japan's Nikkei was able to go into the positive direction amid speculation that the government will review the corporate tax cuts and asked for pension funds to invest more in risky assets.