While global stocks have been moving in and out bearish territory amid severe volatility caused by China's economic slowdown and low oil prices, Indonesia's benchmark Jakarta Composite Index is one of the few stock indices that has risen so far in 2016 (2.64 percent since the start of the year). Foreign and domestic investors seem to regained confidence in Indonesian assets due to Indonesia's better-than-expected GDP growth in Q4-2015 and the knowledge that the Jakarta Composite Index already experienced a sharp correction last year, falling below its fundamental value.

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In line with the performance of the majority of stock markets in Asia, Indonesia's benchmark Jakarta Composite Index fell 0.63 percent to 4,768.62 points, while the Indonesian rupiah depreciated 0.11 percent to IDR 13,612 per US dollar (Bloomberg Dollar Index) on Tuesday (09/02). It was the first trading week for Indonesian assets after a public holiday (Chinese New Year) on Monday. Asian markets weakened today, led by Japan, due to the equities selloff that occurred in Europe and the USA overnight.

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Indonesian stocks and the rupiah are having a great day on Friday (05/02). During the first trading session Indonesia's benchmark Jakarta Composite Index surged 2.33 percent to 4,774.68 points, while the Indonesian rupiah had appreciated 0.46 percent to IDR 13,577 per US dollar (Bloomberg Dollar Index) by 12:35 pm local Jakarta time. These positive developments are caused by the country's better-than-expected Q4-2015 GDP growth result. This morning it was announced that the Indonesian economy expanded 5.04 percent (y/y) in the fourth quarter of 2015.

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Asian stocks extended declines on Wednesday morning (03/02) as oil prices are again flirting with the USD $30 per barrel mark. Overnight, Brent crude fell 4.5 percent to USD $32 per barrel, while West Texas Intermediate plunged 5.5 percent to just below the USD $30 per barrel mark. In combination with concern about the sluggish economy of China it led to another round of global selloff. Overnight the Dow Jones industrial average fell 1.8 percent, the Standard & Poor's 500 index lost 1.9 percent, while the Nasdaq composite index lost 2.2 percent.

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Asian stocks were mixed on Monday (01/02). However, Indonesia's benchmark Jakarta Composite Index rose 0.21 percent to 4,624.63 points after a volatile trading day (one hour before trading closed, the index was down more than one percent). Furthermore, the Indonesian rupiah appreciated markedly, while there occurred inflows into bonds. It seems that Japan's surprise move to introduce negative interest rates managed to offset the negative impact of weak manufacturing activity in China and falling crude oil prices.

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There are seven companies that are expected to conduct an initial public offering (IPO) on the Indonesia Stock Exchange (IDX) in the first quarter of 2016: Buyung Poetra Sembada, Summarecon Investment Property, Mahaka Radio Integra, Cikarang Listrindo, Mitra Pemuda, Ciputra Residence, and Bank Ganesha. In total, the IDX targets to see 35 new listing on the IDX in 2016. Indonesian lender Bank Artos Indonesia was the first company to be added to the IDX in 2016.

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With the notable exception of China, Asian stock markets are showing solid gains on Wednesday (27/01) on the back of yesterday's sharp oil price rebound and rising stocks on Wall Street overnight. These factors caused Indonesia's benchmark Jakarta Composite Index to have climbed 0.70 percent to 4,541.82 points by 12:40 pm local Jakarta time on Wednesday (27/01). On Tuesday, West Texas Intermediate closed at USD $31.45 per barrel, up nearly four percent, giving rise to rising US stocks.

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Three new stocks will enter Indonesia's LQ45 index for the February-July 2016 period. The LQ45 index, compiled by the research and development division of the Indonesia Stock Exchange (IDX), consists of 45 stocks that meet a number of specific criteria. As the stocks listed in the LQ45 are the country's most traded stocks, investors should follow this index. The composition of the LQ45 index is adjusted twice per year (in February and August).

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The new trading week started positively in Asia. After Wall Street had risen sharply on Friday (22/01) due to higher oil prices (particularly causing surging energy stocks), Asia extended the rally on Monday (25/01). In addition, investors are optimistic that the central bank of Japan will turn to more easing (the institution will conduct its monthly policy meeting later this week), while the European Central Bank had already hinted at further easing in last week's policy meeting.

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Indonesia-based property developer HK Realtindo, subsidiary of state-owned firm Hutama Karya, plans to release a 30 percent stake through an initial public offering (IPO) on the Indonesia Stock Exchange in the fourth quarter of 2016. Funds generated through the IPO will be used for further business expansion. The company eyes 30 new projects in 2016, including the Trans Sumatra toll road. The company also plans to issue IDR 500 billion (approx. USD $36 million) in bonds and IDR 250 billion in medium term notes.

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Several factors can be mentioned that may explain the fall of the Jakarta Composite Index (Indonesia's benchmark stock index, abbreviated as IHSG) on Monday's trading day (06/01). These include a sell off of mining stocks (which subsequently negatively affected agricultural stocks) because of the approaching implementation of the ban on the export of unprocessed minerals, the continuing depreciating rupiah exchange rate, the impact of falling stock indices across Asia, and the higher price of 12 kilogram-cylinders of liquefied petroleum gas (LPG).

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On Friday (03/01), the benchmark stock index of Indonesia (known as the Jakarta Composite Index or IHSG) ended 1.61 percent down to 4,257.66 points amid a majority of global indices declining after having experienced a short (window dressing-inspired) rally at the end of the year. The IHSG, which was not affected by the window dressing phenomenon, was dragged down after experiencing a four-day rally in the last week of 2013. Positive US employment data were unable to support global indices.

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As we approach the end of 2013 it is worth taking a look back to the performance of the stock market of Indonesia this year. At the start of the year, investors and analysts were positive that the country's benchmark stock index (known as the IHSG or Jakarta Composite Index) would post steady growth. Initial forecasts claimed that the IHSG could surpass the 5,000 points level by the end of 2013 from 4,300 at end-2012. The actual performance of the IHSG in fact exceeded expectations as in May 2013 the index moved beyond 5,200 points.

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The announcement that the Federal Reserve (FED) will start its quantitative easing tapering in January 2014, while keeping interest rates low, made stock indices in Asia rise, including Indonesia's benchmark stock index (IHSG), although mining and property stocks were able to limit today's gain. The IHSG rose 0.85 percent to 4,231.98 points on Thursday (19/12). The Indonesia rupiah exchange rate (IDR), however, was down as future tighter US dollar supplies causes market participants to buy US dollar now.

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Wall Street, which was up on Monday (16/12) supported by various economic data, managed to support Asian stock indices on Tuesday (17/12), including Indonesia’s benchmark stock index (IHSG). Investors were back and ready to trade on the Indonesia Stock Exchange. As usual, the big cap stocks were highly popular. The rupiah’s Bank Indonesia mid-rate, which improved slightly, also contributed to the good performance of the IHSG today. The index rose 1.37 percent to 4,182.35 points.

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Both the Jakarta Composite Index (Indonesia's benchmark stock index) and the Indonesia rupiah exchange rate are under pressure this morning as market participants are waiting for results of the central bank's Board of Governor's meeting that is held today (12/12) in Jakarta. Speculation has emerged that Indonesia's central bank (Bank Indonesia) will raise its benchmark interest rate (BI rate) one more time in 2013 in order to combat the country's current account deficit as well as mitigate the impact of a possible winding down of QE3.

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Although Indonesia's benchmark interest rate (BI rate) was kept at the level of 7.5 percent (in line with market expectation) today (12/12), it was not able to support the country's stock index. Indonesia's IHSG index fell 1.39 percent to 4,212.22 points. The index was negatively impacted by Asian stock indices that were down due to concerns about the looming end of the Federal Reserve's quantitative easing program. This made investors' positive reaction to the BI rate of temporary nature. Weak openings in Europe increased downward pressure.

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One of the main problems of Indonesia's benchmark stock index (IHSG) is the profit taking that immediately happens after a day of strong growth. On Wednesday (11/12), the IHSG index was plagued by profit taking since the start of the first trading session. Moreover, the index was impacted by mostly falling Asian stock indices as well as the Indonesia rupiah exchange rate which went above the IDR 12,000 per US dollar level again. The only support the IHSG received was just before its closing when European indices opened up.

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Indonesia's benchmark stock index (the Jakarta Composite Index or IHSG) continued yesterday's rise on today's trading day (10/12), supported by indices on Wall Street that climbed due to the lower VIX index (Chicago Board Options Exchange Market Volatility Index) although Asia's stock indices were mixed, while the Indonesia rupiah exchange rate continued its decline. Indonesia's manufacturing stocks were up along with consumer, automotive and processed foods stocks.

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Asia's stock indices were up after various US economic data (including non-farm payrolls and consumer confidence) were better than expected, including Indonesia's benchmark stock index (also known as the Jakarta Composite index or IHSG). The index climbed 0.80 percent to 4,214.34 points on Monday (09/12). Supported by foreign net buying, almost all sectoral indices of the IHSG were up. The economic policy package that was released by the Ministry of Economy this afternoon also provided support for the index and the rupiah.

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