Karena nilai rupiah Indonesia terus melemah pada hari Kamis (04/06), hampir menyentuh tingkat terendah selama 17 tahun, seorang pejabat bank sentral mencoba meringankan kekuatiran dengan menyatakan bahwa Bank Indonesia selalu ada di di pasar forex dan obligasi untuk memonitor pergerakan dan meringankan volatilitas. Pada hari Kamis pagi, bond yield, yang telah meningkat sejak Jumat (29/05), pada 8,198%. Berdasarkan Bloomberg Dollar Index, rupiah telah melemah 0,11% menjadi Rp 13.245 pada pukul 11:10 WIB.

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In line with other stock indices in Southeast Asia, Indonesia’s benchmark stock index (Jakarta Composite Index) has been weakening since the start of trading on Wednesday (03/06). Yesterday’s weakening indices on Wall Street, concern about rising bond yields, worries about the possibility of a default by debt-ridden Greece, and weak macroeconomic data from Indonesia have all contributed to the negative performance of Indonesian stocks so far today. By 11:15 am local time, the Jakarta Composite Index had fallen 1.42 percent.

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The central bank of Indonesia (Bank Indonesia) revised down its economic growth outlook for Indonesia in 2015. In a meeting with the House of Representatives’ Budget Committee, Bank Indonesia Governor Agus Martowardojo said that Indonesia’s GDP growth is expected to reach 5.1 percent (y/y) this year. Previously, the central bank projected economic growth in the range of 5.4 to 5.8 percent (y/y). However, after seeing weak growth in the first quarter (4.71 percent y/y), projections had to be revised.

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In a meeting with Commission XI of Indonesia’s House of Representatives (DPR), Indonesian Finance Minister Bambang Brodjonegoro stated that the economy of Indonesia is currently facing four global risks. These four risks are low international commodity prices, China’s slowing economic expansion, the Greek debt crisis in the Eurozone and, lastly, further monetary tightening to be conducted by the US Federal Reserve. These issues are not new and have already contributed to slowing economic growth in Indonesia.

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Sebagian besar pasar saham Asia turun pada hari Rabu (27/05), termasuk Indeks Harga Saham Gabungan (IHSG). IHSG turun 0,95% menjadi 5.270,22 poin pada pukul 14:32 WIB. Performa yang buruk saham-saham di seluruh Asia hari ini mengikuti jatuhnya pasar saham Amerika Serikat (AS) kemarin. Dow Jones, S&P 500 dan Nasdaq semuanya menurunkan sekitar 1% karena kuatnya dollar AS setelah terbitnya sejumlah data perekonomian AS yang kuat (yang mendukung kenaikan suku bunga AS sebelum akhir tahun) dan meningkatnya kekuatiran mengenai krisis hutang di Yunani.

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The Indonesian rupiah is again depreciating. On Tuesday (12/05), the rupiah had depreciated 0.39 percent to IDR 13,206 per US dollar by 11:51 am local Jakarta time based on the Bloomberg Dollar Index. The primary reason for this weak performance today is US dollar demand amid heightened concerns about Greece’s debt situation. Talks between the Greek leftist government and its international partners are heading toward a crucial phase. As a result, the greenback is appreciating against almost all Asian currencies.

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Bank sentral Indonesia (Bank Indonesia) mengumumkan pada hari Jumat (08/05) bahwa cadangan devisa Indonesia turun sebesar kurang lebih 700 juta dollar Amerika Serikat (AS) menjadi 110,87 miliar dollar AS pada akhir April 2015 (dari 111,55 miliar dollar AS dari bulan sebelumnya). Penurunan ini diakibatkan oleh pembayaran hutang luar negeri pemerintah dan juga usaha bank sentral untuk menstabilkan nilai mata uang rupiah akibat volatilitas saat ini dan ketidakjelasan keadaan ekonomi (global dan domestik). Di April, rupiah menguat 0,8% terhadap dollar AS.

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Nilai saham Indonesia dan rupiah menguat pada hari perdagangan terakhir karena didukung oleh kenaikan sedang dari sejumlah indeks di Wall Street pada hari Kamis (07/05), yang sangat kontras dengan penjualan besar-besaran yang terjadi sehari sebelumnya setelah pimpinan Federal Reserve Janet Yellen menyatakan bahwa harga saham-saham Amerika Serikat (AS) mungkin dihargaii secara berlebihan. Sementara itu, data perdagangan yang lemah dari Republik Rakyat Tionghoa (RRT) mungkin akan mendorong para pembuat kebijakan RRT untuk menyediakan lebih banyak stimulus. Indeks Harga Saham Gabungan naik 0,62% menjadi 5.182,21 poin pada hari Jumat (08/05).

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Indonesian stocks continue to fall on today’s trading day (28/04). After having declined 3.49 percent yesterday, the benchmark Jakarta Composite Index fell a further 1.00 percent during the first trading session on Tuesday. Investors, particularly foreign ones, are still concerned about weak first quarter financial results of listed Indonesian companies, signalling that the country’s economic growth in Q1-2015 will be disappointing too. Furthermore, the market is waiting for results of the Federal Reserve’s two-day policy meeting which is set to start today.

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Indonesian stocks fell sharply after the market opened on Monday (27/04). Indonesia’s benchmark Jakarta Composite Index had dropped 2.61 percent to 5,293.73 points by 12:00 local Jakarta time. This poor performance is most likely due to market participants wait & see attitude before the release of Indonesia’s Q1-2015 GDP growth figure (to be released at the start of May) and the release of Indonesian companies’ Q1-2015 financial earnings reports. Moreover, Indonesia will soon execute several foreign convicted drug traffickers.

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Both Indonesian stocks and the rupiah continued to slide on Thursday (04/06) and seem to be caught in a vicious downward spiral brought about by both domestic and international factors. Indonesia’s benchmark stock index (Jakarta Composite Index) fell 0.68 percent to close at a five-week low of 5,095.82 points, while the rupiah depreciated 0.39 percent to IDR 13,281 per US dollar (Bloomberg Dollar Index), a level last seen in the late 1990s when the country was plagued by the Asian Financial Crisis.

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On the first trading day of the new week, both Indonesian stocks and the rupiah moved more-or-less sideways. Generally, indices in Southeast Asia were mixed as positive external sentiments were offset by local negative sentiments. In the case of Indonesia, negative local sentiments stemmed from the higher-than-estimated inflation figure in May and continued contraction of the manufacturing industry. Positive market sentiments stemmed from the USA where GDP growth was revised to minus 0.7 percent in Q1-2015.

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Most stock markets and currencies in Southeast Asia weakened on Friday (29/05), including Indonesia’s benchmark Jakarta Composite Index and the rupiah. The Jakarta Composite Index fell 0.40 percent to 5,216.38 points, while the rupiah depreciated 0.01 percent to IDR 13,224 per US dollar according to the Bloomberg Dollar Index. Over the past week, Indonesian stocks and the rupiah weakened primarily due to the Greek debt crisis, looming higher US interest rates and the lack of positive domestic factors.

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For a good portion of this year, the stock market in Indonesia has been met with selling pressure. There is a reasonable basis for this, as we have seen some disappointments in corporate earnings that have led some of the biggest names in the country to trade lower. But there are external events at work, as well. And some of these factors might not be readily apparent to many regional investors. One of these is the sovereign debt situation in the Eurozone.

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Nilai tukar rupiah menguat pada Senin (16/02) karena neraca perdagangan dan neraca transaksi berjalan membaik, sementara dolar AS melemah karena penjualan ritel AS yang mengecewakan dan karena optimisme bahwa Yunani akan tetap menjadi anggota zona euro. Sementara itu, kementerian keuangan Indonesia mengadakan lelang obligasi konvensional di mana Rp 12 triliun dijual. Berdasarkan data Bloomberg, rupiah terapresiasi 0.35 persen menjadi Rp 12,753 per dolar AS pada Senin (16/02).

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After being in negative territory for quite a while, the benchmark stock index of Indonesia (Jakarta Composite Index) finished 0.13 percent higher at the end of the trading day. In line with the major stock indices in the Asia-Pacific region, Indonesia’s main index climbed although gains were limited as investors are concerned about failed discussions between the Greek government and its creditors in the Eurozone. However, positive sentiments were still felt due to capital injections in Indonesian state-owned companies.

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The Indonesian rupiah exchange rate appreciated and Indonesian stocks rose on Wednesday (04/02) on the back of rallying oil prices, a successful bond auction, easing tensions in Europe, and weak US factory orders. Based on the Bloomberg Dollar Index, Indonesia’s rupiah appreciated 0.21 percent to IDR 12,630 per US dollar on Wednesday (04/03). Meanwhile, the benchmark stock index of Indonesia (Jakarta Composite Index, abbreviated IHSG) climbed 0.45 percent to 5,315.28 points.

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Both Indonesia’s rupiah exchange rate and stocks strengthened on Tuesday (27/01) as concerns about Greece exiting the Eurozone somewhat eased while the positive market sentiments that were caused by the European Central Bank’s recently unfolded quantitative easing program are still felt. Indonesia’s benchmark stock index (Jakarta Composite Index) gained 0.33 percent to 5,277.15 points, while the rupiah appreciated 0.31 percent to IDR 12,469 per US dollar based on the Bloomberg Dollar Index.

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Both the Indonesian rupiah exchange rate and stocks continued to fall on Tuesday (06/01) as global conditions remained unconducive. Indices on Wall Street had declined sharply yesterday as the global oil prices fell below USD $50 per barrel fueling concerns about a weaker global economy. Similarly, most Asian stock indices declined as Japan's yen appreciated and energy stocks were sold by investors. Indonesia’s benchmark Jakarta Composite Index fell 0.98 percent to 5,169.06 points.

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Indonesia’s benchmark stock index (Jakarta Composite Index) fell 0.43 percent to 5,220.00 points on Monday (05/01) amid profit taking on a relatively quiet trading day on the Indonesia Stock Exchange. Meanwhile, the Indonesian rupiah exchange rate depreciated 0.55 percent to IDR 12,614 per US dollar according to the Bloomberg Dollar Index as concerns about Greece exiting the euro intensified and boosted US dollar demand. Moreover, market participants were still reacting to Indonesia’s latest trade and inflation data.

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