For the first time since 2008 the Organization of Petroleum Exporting Countries (OPEC) agreed to cut crude oil output on Wednesday (30/11) with especially Saudi Arabia ready to accept a big cut in national oil production. "Unlimited" crude oil production led to the supply glut that gave rise to persistently low oil prices and deflationary pressures. Asian stocks climbed on the back of this oil production cut. In early Asian trading on Thursday (01/12), gainers were led by mining, oil and coal producers.

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Indonesian stocks continued to decline on Tuesday (15/11), for the third consecutive day. After a promising start - Indonesia's Jakarta Composite Index (IHSG) rose about 1 percent in today's first trading session - the index finished the day down 0.73 percent to 5,078.50 points. Key matters that cause this selloff are the US dollar approaching a 14-year high as well as expectation of rising inflation in the USA now Donald Trump has been elected next US president. This cocktail gives rise to capital outflows from emerging markets to the USA.

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Donald Trump becoming US president causes investors to re-evaluate emerging market assets, and Indonesia is among the biggest victims. Trump is eager to make the USA "great again", partly by using the protectionist approach. Considering Trump may be supported by the Republican-controlled US Congress, investors see a real chance for realization of Trump's plans (which include infrastructure development, tax cuts, as well as the exiting of free trade and environment deals). This has a big impact on emerging markets.

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Asian stocks are under heavy pressure on Wednesday (02/11) as the latest polls in the USA are suggesting that the US presidential race between market favorite Hillary Clinton and controversial candidate Donald Trump is closer than initially expected. Narrowing polls cause concern about future US economic policy after the election on 8 November 2016. Earlier, Trump expressed criticism on the Federal Reserve, claiming that the US central bank is engaged in politics by maintaining the loose monetary policy.

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Indonesian property and real estate developer Lamicitra Nusantara announced its plan to delist from the Indonesia Stock Exchange (IDX). Another listed company will also voluntarily delist from the IDX. However, Samsul Hidayat, Director of Corporate Listing at the IDX, refrained from naming this company. He did confirm that two companies - including Lamicitra Nusantara - have visited the IDX to discuss the delisting.

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The Indonesia Stock Exchange (IDX) targets to see a total of 35 initial public offerings (IPOs) in 2017. To achieve this target the IDX will raise efforts to encourage Indonesian companies to go public. Besides these IPOs, the IDX also targets to see 60 companies to conduct a rights issue next year. These targets were announced by IDX Director Tito Sulistio after the extraordinary general meeting on Thursday (20/10). So far in 2016, only 12 companies went public in Indonesia. This poor score is the result of high uncertainty on the global financial markets.

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Indonesian assets are leading declines in Asia on Wednesday's trading day (05/10) as (global) markets are digesting the latest reports that the European Central Bank (ECB) may withdraw its bond buying program, while statements from US Federal Reserve officials strengthened the case for a Fed Funds Rate hike before the year-end. Lastly, the International Monetary Fund (IMF) cut its forecast for US economic growth in 2016 to 1.6 percent (y/y) from its earlier estimate of 2.2 percent (y/y).

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The Indonesia Stock Exchange (IDX) ranked state-controlled mining company Aneka Tambang (or, Antam) as "the IDX Best Blue 2016". This ranking determines the best performing companies - listed on the IDX - in the period September 2015 to August 2016 based on matters including fundamental analyses, IDX monitoring, investor confidence, and active trading. Antam will have a template hanging on the walls of all IDX branches across Indonesia, a move that should encourage other listed companies to enhance their corporate performance.

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Indonesian assets performed very well on Monday (03/10). Indonesia's benchmark Jakarta Composite Index surged 1.85 percent to 5,463.92 points, while the Indonesian rupiah appreciated 0.46 percent to IDR 12,983 per US dollar (Bloomberg Dollar Index). Overall, assets are improving worldwide due to easing concerns about the Deutsche Bank case, stabilizing oil prices, and China's stabilizing manufacturing activity. Indonesian assets, however, performed best supported by the government's successful tax amnesty program.

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The Indonesia Stock Exchange (IDX) encourages those companies listed in Indonesia to list their shares on other exchanges as well, particularly the New York Stock Exchange (NYSE). Through such dual listings Indonesian companies can manage to attract more global attention and investors. IDX President Director Tito Sulistio said the IDX has sent 100 invitations to locally-listed companies to visit the NYSE in order to learn more about the possibility to engage in a dual listing.

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The release of Indonesia's April deflation figure (0.10%) and orderly May Day demonstrations provided a good environment for investors to continue purchasing Indonesian stocks (despite uncertainty about Indonesia's subsidized fuel policy. Moreover, positive Asian stock indices - in combination with positive European openings on Wednesday - made the Indonesia Stock Index (IHSG) rise to a new record level of 5,060.92 points on Wednesday (01/05/13), a 0.53 percent gain.

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Even though American and European stock indices were positive on Monday (in fact S&P 500 set a new record) it did not impact directly on the performance of Indonesia's main stock index (IHSG) on Tuesday (30/04/13). In the first session, the IHSG's peak at 5,014 points was only short-lived and quickly lowered again. In the second session, however, the index started to show more solid growth (despite the ongoing uncertainty about Indonesia's subsidized fuel price) as Asian stock markets were mostly up.

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After two consecutive days of decline, the Jakarta Composite index (IHSG) had no intention to continue its fall. Indonesia's main index was able to rise 0.43 percent to 4,999.75 points on Monday 29 April 2013. Stocks that had been weakening in recent days were popular among investors. Moreover, both Asian stock indices and foreign net purchases of Indonesian stocks supported Indonesia's index, although it fell short of reaching the psychological boundary of 5,000 points.

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Last week Indonesia's main stock index (IHSG) was mixed with a weakening trend. The index lost 19.9 points, equivalent to 0.40 percent of its value. During the last month, the index consolidated within the range of 4,800 and 5,030 points. Foreign funds continued to pour in and trade volume remained high although below average trade in the last three weeks. In fact, our technical indicators are showing signs that Indonesia's main stock index has become saturated.

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On Friday's trading day, the Indonesia Stock Index (IHSG) started in an upward direction. However, as it felt the impact of European stock indices, that mostly opened lower, the IHSG weakened 0.32 percent to 4,978.51 points. Moreover, most other Asian indices were down (except for Hong Kong's HSI) and thus contributed to the IHSG's fall. Market participants also seem to fear the annual 'May Cycle' of the IHSG, which involves the traditional large-scale selling of IHSG stocks.

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Foreign investment in Indonesia has maintained its steady pace in the first quarter of 2013. Ahead of next year's presidential and legislative elections, which trigger uncertainties about the future course of the country, foreigners have bought more Indonesian stocks in Q1-2013 than in the four quarters of 2012 combined. Moreover, foreign direct investments (FDIs) have increased by 27 percent (YoY) in Q1-2013 and show an interesting shift towards Indonesia's manufacturing sector.

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Today, the Jakarta Composite Index (IHSG) was under pressure from the start of the trading day. It was negatively affected by mixed Asian indices as well as yesterday's mixed American indices (where the Dow Jones Index weakened whereas other American indices gained). It made investors, in particular foreign investors, eager to sell parts of their stock portfolios. At the end of today's trading day, the IHSG stood at 4,994.52, a 0.34 percent fall compared to yesterday.

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Positive moving stock indices in America and Europe on Tuesday (responding to various good corporate Q1-2013 data) were able to offset negative influence caused by weak manufacturing data from China and Europe. As a result Asian indices rose on Wednesday, including the Indonesia Stock Index (IHSG) which managed to reach beyond the psychological boundary of 5,000 points. The index ended at the level of 5,011.61, a 0.73 percent gain compared to the previous trading day.

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Rising American and European stock indices last Friday, helped to support Asian stock indices today (22 April 2013), including the Indonesia stock index (IHSG). However, the ongoing drama brought on by last Saturday's earthquake in China, impacted on the China stock index as well as on other Asian stock indices, including the IHSG. As the IHSG has been showing signs that it is overbought, market participants preferred to sell portions of their stock portfolios, resulting in a limited fall of the IHSG.

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Last week, the International Monetary Fund (IMF) published its World Economic Outlook (edition April 2013) titled "Hopes, Realities and Risks". In the report, the IMF lowered its forecast for global economic growth from an initial 3.5 percent (January edition) to 3.3 percent currently. Although the IMF lowered its economic forecasts for most countries (including emerging markets as a whole), it revised up its projection for the ASEAN-5 countries¹ by 0.3 percent to 5.9 percent.

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