The Federal Reserve's decision not to change its quantitative easing program seems to have led to a bullish market in Asia. Indonesia's benchmark stock index (IHSG) rose 4.37 percent to 4,658.2 points after the first session on Thursday's trading day (19/09). All sectoral indices were up, with the property sector in leading position. Big cap stocks, in particular, performed well. Investors are relieved that the Fed did not alter its stimulus program. Thus, funds are expected to continue flowing to emerging markets, including Indonesia.

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Despite widespread speculation that the Federal Reserve would tone down its quantitative easing program (QE3) by approximately USD $10 to $20 billion after the FOMC meeting on Wednesday (18/09), the central bank of the USA decided to continue its monthly USD $85 billion bond-buying program as it downgraded its outlook for US economic growth to between 2.0 and 2.3 percent. Chairman Bernanke said that the economic context of the USA is still far from conducive to alter its strategy.

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For the first time since April 2013, Indonesia's foreign exchange reserves have shown a small growth. Indonesia's central bank (Bank Indonesia) stated that in late August, the foreign exchange reserves rose to USD $92.99 billion from USD $92.67 billion a month earlier. The growth was a surprise as continued capital outflows from Indonesia's financial markets was expected to translate into lower reserves. Last week, Indonesia's benchmark stock index fell 2.97 percent, while the rupiah fell 2.55 percent against the US dollar.

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The Financial Services Authority of Indonesia (OJK or Otoritas Jasa Keuangan) announced that six more Indonesian companies are planning to conduct their initial public offering (IPO) on the Indonesia Stock Exchange (IDX) in 2013. The OJK is currently processing the applications, which should see the listings materialize in Q4-2013. One company that was expected to conduct its IPO, but postponed, was Puradelta Lestari. The company was not willing to conduct the IPO in the midst of current bearish market conditions in Indonesia.

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Indonesia's largest telecommunication & network provider Telekomunikasi Indonesia (Telkom) has conducted a stock split with a ratio of 1:5 yesterday (29/08). The company, which is majority owned by the Indonesian government and has a dominating market share of around 47% in terms of mobile phone subscribers in Indonesia, decided to conduct the stock split to increase the company’s share liquidity. A cheaper price will be more appealing to investors. The stock split was agreed upon at the general shareholders' meeting on 19 April 2013.

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Indonesia's central bank (Bank Indonesia) decided to raise its benchmark interest rate (BI rate) by 50 basis points to 7.0 percent on Thursday (29/08) in order to support the weakening rupiah amid slowing global economic growth. The rupiah has been on a long losing streak and has fallen to its lowest level against the US dollar in four years. The BI rate had already been raised in June and July from a historically low 5.75 percent to 6.50 percent. Today, an extra meeting was scheduled to discuss policy measures.

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Indonesian stocks took a large dive on today's trading day (19/08) at the Indonesia Stock Exchange. The IHSG (the index of all listed stocks) fell 5.58 percent to 4,313.52 points as negative market sentiments caused foreign investors to pull money out of the Indonesian market. Investors are highly concerned about a number of macroeconomic data that have been released recently. These data indicated the slowest economic growth since Q3-2010, inflation at a four-year high and a widening trade deficit.

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Although Indonesia's currency, the IDR rupiah, has continued its weakening trend, Indonesian authorities are reassuring the people that this development is not as much caused by domestic factors but rather due to the rising US dollar against other currencies. According to data from Bank Indonesia, the Indonesian rupiah has weakened 5.99 percent to the US dollar in 2013. It is also clear that the central bank of Indonesia has decided to let the rupiah depreciate gradually instead of using its foreign exchange reserves to support the currency.

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Express Transindo Utama (TAXI), an Indonesian taxi operator controlled by Peter Sondakh's Rajawali Corpora, received the award for 'Warta Ekonomi's Best New Listed Company'. Warta Ekonomi is one of Indonesia's renowned business and economic magazines. The taxi operator received the award because its business is experiencing good growth as can be seen from its stock performance. In 2013, its shares rose 72.94 percent. The company is the first, and only, taxi operator that went public on the Indonesia Stock Exchange (IDX).

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Fortune Indonesia, a business magazine, has compiled a top 100 of the most profitable Indonesian companies that were listed on the Indonesia Stock Exchange (IDX) in 2012. The list was published on Tuesday (09/07) in Jakarta. The company that is leading Fortune's ranking is Astra International, one of the largest diversified conglomerates in Indonesia. Astra is not only the most profitable (net profit) company that is listed on the IDX but also the leading company in terms of highest revenue.

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A selection of corporate earnings reports (covering net profit and revenues in the first nine months of 2015) of Indonesian companies that are listed on the Indonesia Stock Exchange (IDX) is presented by Indonesia Investments below. The companies are categorized by sector: (1) agriculture and mining, (2) basic industry and chemicals, (3) miscellaneous industry, (4) consumer goods, (5) property and real estate, (6) infrastructure, utilities and transportation, (7) finance, and (8) trade, services and investment.

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Before the end of the year, fast-moving consumer goods (FMCG) company Kino Indonesia plans to conduct an initial public offering (IPO) on the Indonesia Stock Exchange. The company aims to raise around IDR 1 trillion (approx. USD $74 million) by offering 228.6 million new shares, equivalent to 16 percent of its enlarged capital, to the public. The price range of has been set between IDR 3,750 and IDR 5,225 per share. Credit Suisse, Deutsche Bank and Indo Premier Securities launched the float on Tuesday (10/11) with book-building to continue until 20 November.

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Indonesian assets weakened on Friday (06/11) on expectation that US non-farm payrolls and US employment data would improve, suggesting that a Fed Fund Rate hike may occur in December 2015. Such expectations were correct. After Indonesian and other Asian markets had closed on Friday, the US Labor Department announced that October payrolls rose 271,000 (the largest increase this year), while the US unemployment rate touched a seven-year low at 5 percent. Furthermore, the average hourly earnings over the past 12 months climbed by the most since 2009.

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For those who follow Indonesian stock markets, it is no mystery that the trend have not been encouraging or supportive in the year 2015. Several important stock benchmarks that track equity performance for the region show year-to-date losses of 30% or more, and this has led many investors to steer clear of the emerging markets space until things start to stabilize.

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A selection of corporate earnings reports (covering net profit and revenues in the first half of 2015) of Indonesian companies that are listed on the Indonesia Stock Exchange (IDX) is presented by Indonesia Investments below. The companies are categorized by sector: (1) agriculture and mining, (2) basic industry and chemicals, (3) miscellaneous industry, (4) consumer goods, (5) property and real estate, (6) infrastructure, utilities and transportation, (7) finance, and (8) trade, services and investment.

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After a real roller coaster ride, Indonesia’s benchmark stock index (Jakarta Composite Index) climbed 0.35 percent to 4,446.20 points at the end of the trading week. The majority of key stock indices across the globe tended to strengthen on Friday after a week characterized by severe volatility amid concern about the economic situation in China.

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The Indonesian rupiah touched a 17-year low as the currency continued to depreciate amid persistent bullish US dollar momentum. The rupiah weakened to IDR 13,539 per US dollar according to the Bloomberg Dollar Index on Friday (31/07). The US Commerce Department announced on Thursday (30/07) that US gross domestic product (GDP) expanded at 2.3 percent (year-on-year) in the second quarter of 2015, giving rise to heightened expectation that the US Federal Reserve will raise its key interest rate soon.

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The Indonesia Stock Exchange (IDX) welcomed Garuda Metalindo as the ninth company that listed on the IDX so far in 2015. The listing was a success as shares of the company, traded under ticker symbol BOLT, rose 50 percent during its trading debut. Garuda Metalindo is a manufacturer of bolts and nuts for the automotive industry and currently owns two factories in Tangerang and Kapuk (Java). Clients of the company include Astra Honda Motor, Kawasaki Motor, Krama Yudha Tiga Berlian Motor, and Suzuki Indomobil Motor.

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A selection of corporate earnings reports (covering net profit and revenues in the first quarter of 2015) of Indonesian companies that are listed on the Indonesia Stock Exchange (IDX) is presented by Indonesia Investments below. The companies are categorized by sector: (1) agriculture and mining, (2) basic industry and chemicals, (3) miscellaneous industry, (4) consumer goods, (5) property and real estate, (6) infrastructure, utilities and transportation, (7) finance, and (8) trade, services and investment.

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Mega Manunggal Property, an Indonesian developer and provider of logistics facilities, officially listed its shares on the Indonesia Stock Exchange (IDX) on Friday (12/06) hence becoming the sixth company to have conducted an initial public offering (IPO) on the IDX this year and bringing the total number of listed companies on the IDX to 511. Mega Manunggal Property offered 1.7 billion shares, or 30 percent of its enlarged share capital, for a price of IDR 585 (USD $0.04) per share hence raising IDR 1 trillion (USD $76 million).

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