Update COVID-19 in Indonesia: 59,394 confirmed infections, 2,987 deaths (2 July 2020)
2 July 2020 (closed)
USD/IDR (14,516) +175.00 +1.22%
EUR/IDR (16,342) +219.24 +1.36%
Jakarta Composite Index (4,966.78) +52.39 +1.07%
On the last day of the trading week (22/11), Indonesia's benchmark stock index (IHSG) fell 0.19 percent to 4,317.96 points thereby extending its losing streak to three days as investors remain concerned about the looming end - or at least winding down - of the Federal Reserve's monthly USD $85 billion bond buying program known as quantitative easing (QE3). Foreign investors recorded a net sell of IDR 38 billion (USD $3.3 million). The other indices in Asia were mixed. The Hang Seng and Nikkei were up but the Shanghai Composite was down.
The IHSG had started the trading day positively, climbing 0.65 percent being supported by Wall Street where the Dow Jones reached a new record on Thursday (21/11). However, after foreign investors started to sell, the IHSG went back in the red.
| Source: Bank Indonesia
The Indonesian rupiah exchange rate (the central bank's mid rate) rose slightly (0.09 percent) to IDR 11,717 per US dollar. The rupiah's movement was rather stagnant today after having depreciating sharply on Thursday (21/11) when market participants responded to the result of the FOMC meeting. The participants at the meeting agreed that the US economy is improving. However, it remains unclear when quantitative easing will be wound down. The Federal Reserve has stated to continue the program for as long as needed.