Indonesian taxi operator Blue Bird is the 19th company that has conducted an initial public offering (IPO) on the Indonesia Stock Exchange (IDX) in 2014. On Wednesday (05/11), the company’s shares made their debut on the stock exchange and immediately soared over 25 percent to IDR 8,175 (USD $0.68) per share. By releasing 376.5 million shares to the public, Indonesia’s largest taxi operator raised IDR 2.4 trillion (USD $200 million). However, this result is considerably lower than the earlier forecast of around USD $307 million.

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Although stock indices on Wall Street were up on Thursday (23/10) on strong corporate earnings (including Caterpillar and 3M) and economic data (US hiring as well as business’ surveys in Europe that suggest the region may avoid slipping back into a recession), it failed to push emerging market stocks higher on Friday (24/10). Indonesia’s benchmark stock index fell 0.60 percent to 5,073.07. Meanwhile, the Indonesian rupiah exchange rate depreciated 0.05 percent to IDR 12,069 per US dollar (Bloomberg Dollar Index).

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Indonesian stocks, bonds and the rupiah exchange rate performed well ahead of - and during - the inauguration of Joko Widodo (Jokowi) as Indonesia’s seventh President on Monday morning (20 October 2014). At 10:45 am local Jakarta time, when Jokowi was making his speech in front of the People's Consultative Assembly (MPR), the Jakarta Composite Index had surged 1.36 percent to 5,097.25 points, while the rupiah had appreciated 0.78 percent to IDR 12,015 per US dollar according to the Bloomberg Dollar Index.

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Indonesian stocks and the rupiah exchange rate strengthened considerably on Friday (17/10) due to speculation that president-elect Joko Widodo will raise prices of subsidized fuels soon after his inauguration as Indonesia’s seventh President on Monday 20 October 2014. Furthermore, a meeting between Widodo and powerful opposition leader Prabowo Subianto on Friday morning also managed to ease concerns about political stability in Southeast Asia’s largest economy. Lastly, rising indices on Wall Street added positive market sentiments.

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Both the Indonesian rupiah exchange rate and Indonesian stocks weakened sharply on Wednesday (08/10) due to internal and external factors. Externally, weakening stock indices on Wall Street on Tuesday (07/10) have a severe negative impact on the performance of Asian stocks today. Wall Street was down on the IMF’s downward revised outlook for global GDP growth in 2014 and 2015, as well as on Germany’s industrial production, which fell the most in five years in August 2014.

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Indonesian stocks and rupiah exchange rate weakened considerably on Friday (26/09) after Indonesian parliament approved a new bill that puts an end to direct local elections. Moreover, market sentiments were negative after stocks on Wall Street plunged on Thursday because of increasing concern about the global economy as well as consumers’ problems with Apple's latest software updates and new product launches (iPhone 6 and iPhone 6 Plus) resulting in a 3.8 percent slide of Apple shares.

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Gold miner Archi Indonesia, a subsidiary of Rajawali Corpora, expects to collect USD $200 million through an initial public offering (IPO) on the Indonesia Stock Exchange (IDX) before the end of the year. The company will offer between 15 and 20 percent of its enlarged share capital to the public. It appointed two local securities firms, including Danareksa Sekuritas, and two foreign securities firms as underwriters. So far this year, 18 companies have conducted an IPO on the Indonesia Stock Exchange.

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The Indonesia Stock Exchange (IDX) expects five more initial public offerings (IPOs) before the end of this year. These companies are the Blue Bird Group, Soechi Lines Indonesia, Imack Pratama Industri, Intan Baruprana Finance, and Karisma Aksara Mediatama. The IPO of Blue Bird, known for its taxi services, is the most awaited one. The company is expected to sell 20 percent of its enlarged capital to the public and aims to raise about USD $450 million, making it one of the largest IPOs on the IDX since Indofood CBP Sukses Makmur in 2010.

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Cipta Kridatama, one of Indonesia leading mining contractor companies, plans to conduct an initial public offering on the Indonesia Stock Exchange (IDX) after 2015. The company believes that this corporate action will enhance transparency and good corporate management. Chief Executive officer (CEO) Irfan Setiaputri said that the company is eager to conduct the IPO but needs to wait until after 2015 in order to be fully prepared for this step. The company is currently busy expanding into other business sectors.

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Controversial former army general Prabowo Subianto, who was defeated in Indonesia's 2014 presidential election, is expected to challenge the election result in the Constitutional Court, claiming that the election has been influenced by massive vote fraud. Yesterday (22/07), prior to the official release of the election result by the General Elections Commission (KPU), Subianto already withdrew from the recapitulation process. Rival Joko Widodo (Jokowi) won the election securing 53.15 percent of the votes.

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The Indonesia Stock Exchange (IHSG) rebounded after receiving support from positive American stock markets due to a fall in US jobless claims. American stock markets also influenced most other Asian stock markets in a positive way. Despite the fact that most foreign investors engaged in profit taking by selling Indonesian assets, the IHSG managed to gain 0.69 percent to the level of 4,819.32. Trade volume decreased, while total value of transactions rose.

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On Thursday's trading day, the Indonesia Stock Exchange (IHSG) was tame and weakened again. Foreign market participants were mostly selling their Indonesian assets and influenced domestic investors to behave similarly. Most other Asian stock markets, however, turned positive and were followed by good European openings. It did not prevent the IHSG from losing 49.07 points, or 1.01 percent to 4,786.37. Trade volume increased, while total value of transactions decreased.

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Apparently, market participants were eagerly waiting for positive news regarding stimulus packages that various central banks will apply to boost local economies. Once the news spread, investors hunted for stocks that previously weakened. Moreover, increased manufacturing data from the USA and Europe contributed to positive market sentiments. Lastly, China indicated to maintain its economic pace of 7.5 percent GDP growth this year.

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After continuously reaching new record-high levels last week, the Indonesia Stock Exchange (IHSG) finally had to give up some of its gain and closed 1.04 percent lower. Declining Asian stock markets (excluding Japan's main index) and fears that the IHSG had already reached a (too) high level impacted on today's result. Market participants, who recently confirmed good corporate annual results of many companies by buying, now engaged in profit taking.

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Today, the Indonesia Stock Exchange (IHSG) reached yet another new record high as most market participants used the current positive market sentiments to maintain their stock portfolios, although part of the investors also took the chance to engage in profit taking. Most Asian stock markets gained significantly which was followed by positive openings of European stock indices. Both developments impacted heavily on the IHSG.

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Apparently, yesterday's decline was only a small stumbling block for the Indonesia Stock Exchange (IHSG). Indonesia's main indicator rebounded strongly after feeling the effects of stronger American stock indices that were positively influenced by a rise in Housing Index and Consumer Confidence. Moreover, the IHSG accelerated its gain after Asian stock markets and the opening of Europe's stock indices were positive.

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On Tuesday's trading day, the Indonesia Stock Exchange (IHSG) was not able to maintain its record breaking upward movement. China's possible decision to limit credit growth in the property sector and the election in Italy contributed significantly to the decline of the IHSG. Moreover, it was influenced by poor openings of European stock markets. Investors thus decided to engage in profit taking, while waiting for further global developments.

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The combination of the downgrade of Britain's government bond rating to AA1, China's plan to limit its property growth, and a decline in the HSBC Manufacturing PMI, was not able to block the growth of the Indonesia Stock Exchange (IHSG) today. In particular the purchase appetite of foreign investors made the index move to a new record high. Positive openings of European stock markets also provided a boost for the IHSG.

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Despite negative influence of stock markets in America, Europe and China, the Indonesia Stock Exchange (IHSG) managed to record a gain. During Friday's intraday trade, Indonesia's main indicator moved flat. However, stimulus from indices in Japan, Australia and Singapore, made it rise. Foreigners continued to buy Indonesian assets, while various companies reported good corporate results (such as Bank Rakyat Indonesia, Bank Danamon, Bank Cimb Niaga, Hero Supermarket).

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Despite a good opening, weakening Asian stock markets dragged the Indonesia Stock Exchange (IHSG) downwards in today's trading day. At the start of the day, market participants may have hoped that Indonesia's main indicator would gain again, but a low trade volume turned it negative. Moreover, investors seem to wait for the result of Bumi Plc's shareholders meeting, and the negative opening of European stock indices contributed to the decline.

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