Indonesian stocks and the rupiah are experiencing severe pressures at the start of the new trading week. Indonesia’s benchmark stock index (Jakarta Composite Index) declined 1.68 percent to 5,014.99 points (a seven-month low), while the rupiah depreciated 0.71 percent to IDR 13,385 per US dollar according to the Bloomberg Dollar Index on Monday (08/06). As such, the rupiah extended its record-low closing in the post Asian Financial Crisis era. Indonesian stocks and the rupiah are the worst performing Asian assets.

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The Indonesian rupiah continues to be a cause for concern as the currency immediately depreciated heavily after trading opened on Monday (08/06). Based on the Bloomberg Dollar Index, the rupiah hit a new record-low of IDR 13,382 per US dollar in the post Asian Financial Crisis era at 9:10 am. Due to a lack of domestic and international positive sentiments only central bank intervention can support the country's ailing currency. Meanwhile, Indonesian stocks followed suit by declining 0.70 percent shortly after opening.

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Dua perusahaan mengumumkan akan melaksanakan penawaran saham perdana (initial public offering/IPO) di Bursa Efek Indonesia (BEI) pada bulan ini dalam rangka mengumpulkan dana untuk ekspansi bisnis. Perusahaan ini adalah pengembang properti Binakarya Jaya Abadi dan penyedia solusi teknologi informasi Anabatic Technologies. Sampai dengan awal Juni, total lima perusahaan telah didaftarkan (termasuk pendaftaran ulang Mitra Energi Persada) di BEI pada tahun ini. BEI menargetkan pendaftaran total 32 perusahaan di BEI pada tahun ini.

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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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Industrial estate developer Puradelta Lestari, unit of Singapore-listed Sinarmas Land Ltd, was listed on the Indonesia Stock Exchange (IDX) on Friday (29/05) thus becoming the fifth firm to go public on the IDX in 2015. Through the initial public offering (IPO) Puradelta Lestari raised IDR 1 trillion (USD $76 million) by offering 4.8 billion shares to the public, equivalent to ten percent of the company’s enlarged capital, for a price of IDR 210 per share. On the first trading day, shares of the company rose 4.29 percent.

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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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Pembangunan Perumahan Properti (PP Properti), sebuah developer properti dan unit dari Pembangunan Perumahan (PP), melakukan pendaftaran yang sukses di BEI pada hari ini (19/05). Saham-saham PP Properti naik tajam 35% saat debut perdagangannya. Setelah Bank Yudha Bhakti (BBYD) dan Mitra Keluarga Karyasehat (MIKA), PP Properti (PPRO) adalah perusahaan ketiga di Indonesia yang telah melaksanakan penawaran saham perdana (initial public offering/IPO) di BEI (Mitra Energi Persada telah mendaftarkan ulang lebih dulu di Mei 2015).

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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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The Indonesian rupiah depreciated sharply, while the country’s stocks fell. According to the Bloomberg Dollar Index, Indonesia’s currency depreciated 0.86 percent to IDR 13,148 per US dollar on Thursday (07/05). This performance was in line with the performance of other Asian currencies. Of the 11 Asian currencies that are followed by Bloomberg, only Japan’s yen appreciated against the US dollar. The Indian rupee was the worst performer today, weakening 1.06 percent against the greenback.

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After having delisted its shares from the Indonesia Stock Exchange (IDX) in 2007, Mitra Energi Persada relisted 212 billion shares (approximately 11.6 percent of the company’s equity) on the IDX on Monday (04/05). The relisting was a success. Shares of the company, traded under the ticker KOPI, rose almost 50 percent to IDR 590. Mitra Energi Persada was originally established as an e-commerce company but later shifted its business to the energy sector. The company is a trader of natural gas, coal and oil.

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Rising indices on Wall Street at the end of last week were a major factor behind rising stock indices in Asia, including Indonesia's benchmark stock index (IHSG), on Monday (16/09). For market players this development was a sign to enter the market. Moreover, expectation has emerged that the Federal Reserve will not take any drastic decisions in the FOMC meeting (on 17-18 September) regarding its quantitative easing program. This expectation has calmed down markets. Indonesia's IHSG rose 3.35 percent to 4,522.54 points.

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Last week, Indonesia's benchmark stock index (IHSG) climbed 7.3 percent to end at 4,375.53 on Friday (13/09). This growth is remarkable as it remains unknown what the Federal Reserve will do with its quantitative easing program (QE3). The next Fed meeting - scheduled for 17-18 September - is expected to provide more clarity regarding this matter. Positive sentiments that lifted the IHSG were Indonesia's slightly increased foreign exchange reserves, its stable rupiah after another BI rate hike, and the Bilateral Swap Deals (BSA) with Japan and China.

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Despite concerns that Indonesia's benchmark stock index (IHSG) would weaken on Thursday's trading day (12/09), the index ended 0.17 percent up to 4,356.61 points. Indices on Wall Street and in Asia impacted positively on the IHSG and kept foreign investors increasing their stock portfolios in Indonesia. Moreover, the Bank Indonesia's decision to raise the country's benchmark interest rate (BI rate) by 25 basis points to 7.25 percent was generally well-received by investors. Banking stocks helped to support the IHSG.

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Without any real negative global reasons, Indonesia's benchmark stock index (IHSG) was down 0.20 percent to 4,349.42 points. Apparently, market participants were looking for profit taking after the index rose sharply in the last couple of days. There may also have been the psychological influence of the gaps at 4,191-4,225 and 4,072-4,102 that still need to be closed. Will the IHSG close these? Compared to the general upward trend of Asian indices, it seems strange if the IHSG would deviate from this trend only to close the gaps.

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Good economic data from China and Japan made many Asian stock indices go into green territory, including Indonesia's benchmark stock index (IHSG) which gained 3.98 percent to close at 4,358.14 points on Tuesday (10/09) despite the lack of positive internal factors in Indonesia. Promising European openings also provided support for the index. Foreign investors, similarly to yesterday, were net purchasers of Indonesian assets, while domestic investors mostly sold their assets.

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The release of positive economic data in China at the end of last week were continued into this week and had a good impact on regional stock indices. Most Asian stock indices continued their upward movement. This time, Indonesia's benchmark stock index (IHSG) was able to join its regional peers. Although Indonesia's investment climate is still not conducive, foreign investors were back buying more Indonesian stocks than they sold. The index rose 2.92 percent to 4,191.26 points on Monday (09/09).

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Last week, Indonesia's benchmark stock index (IHSG) remained under pressure and was corrected 122,735 points, or 2.9 percent. At the start of the week, a number of important data were released. Inflation in August 2013 was 1.12 percent (month-to-month), 7.94 percent (calender year 2013), and 8.79 percent (year on year). Major contributors to Indonesia's inflation rate were food products (0.45 percent), followed by housing, water, electricity and gas (0.16 percent), and transportation, communication and financial services (0.16 percent).

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Although many global indices were up, Indonesia's benchmark stock index (IHSG) fell a total of 2.93 percent during last week's trading. One important issue on global indices is the tapering off of the Federal Reserve's quantitative easing (QE3). On 17 and 18 September, the next meeting of the FOMC is scheduled, which is expected to discuss the future of QE3. Notably, as the meeting comes closer, most global indices in fact rise. Thus, market players seem to have become less concerned about an end to QE3.

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Contrary to Thursday's trading day (05/09) when the benchmark stock index of Indonesia (IHSG) opened strong but ended in the red, on Friday (06/09) it was the other way round. The IHSG started negative but ended the day 0.53 percent up to 4,072.35 points. Factors that made a negative impact on the IHSG were the continueing fall of the rupiah as well as speculation that Indonesia's foreign exchange reserves would decline again at end-August. However, a number of rising Asian indices influenced the IHSG in a positive way.

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Indonesia's main stock index (IHSG) started rather well on Thursday's trading day (05/09) despite the fact that most analysts expected a weakening index. Positive market sentiments were triggered by rising Asian stock indices (brought on by yesterday's rising indices on Wall Street). However, as the rupiah continued its downward spiral, market players began to exit the market, thus resulting in the 0.55 percent fall of the IHSG to 4,050.86. Foreign investors were net sellers of Indonesian assets, while domestic players recorded a net purchase.

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