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Today's Headlines China

  • Indonesia Lowers 2015 Coal Production Target on Weak Global Context

    Indonesia Lowers 2015 Coal Production Target on Weak Global Context

    The government of Indonesia lowered its coal production target for 2015 from 425 million tons to 400 million tons as most Indonesian coal miners have cut production targets amid low global demand and weak prices. Domestic coal demand has also reduced primarily due to lower demand from state-owned power company Perusahaan Listrik Negara (PLN). In the first half of 2015, Indonesia (the world’s top thermal coal exporter) produced 204 million tons according to the Ministry of Energy and Mineral Resources.

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  • Joko Widodo: Economic Growth Indonesia to Accelerate in Late 2015

    Joko Widodo: Economic Growth Indonesia to Accelerate in Late 2015

    In response to the release of Indonesia’s official Q2-2015 GDP growth figure, which puts the country’s economic growth pace at 4.67 percent year-on-year (a six-year low), President Joko Widodo said the economy of Indonesia is bound to improve in the second quarter of the year, particularly from September onwards. Widodo said slowing economic growth was the result of troubled government budget absorption at both the central level and regional level. Moreover, the country has been plagued by external factors.

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  • Economy of Indonesia: GDP Growth Slows to 4.67% y/y in Q2-2015

    Economy of Indonesia: GDP Growth Slows to 4.67% y/y in Q2-2015

    Statistics Indonesia (BPS) announced today (05/08) that the Indonesian economy grew 4.67 percent (y/y) in the second quarter of 2015, the slowest pace since 2009. However, the result was in line with expectation. Most analysts assumed that economic growth would continue to slow as there has been no rebound in global commodity prices, interest rates remained high, people’s purchasing power weakened, government spending remained problematic, companies Q2-2015 earnings reports were not too good, and manufacturing contracted.

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  • Indonesia Stock Market Update: Extending Losses on Tuesday

    Indonesia Stock Market Update: Extending Losses on Tuesday

    Immediately after trading opened on Tuesday morning - and in line with the performance of most other Asian stock indices - Indonesian stocks extended their losses. By 10:53 am local Jakarta time, the benchmark Jakarta Composite Index had fallen 1.07 percent to 4,720.33 points, its lowest level since April 2014. The primary reason why markets have tumbled across the globe is the severe drop in the Chinese market. Yesterday, China’s Shanghai Composite Index tumbled a staggering 8.48 percent.

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  • Stock Market Update: Global Turmoil Plagues Indonesian Stocks & Rupiah

    Indonesian stocks and the rupiah continued to weaken on the first trading day of the week, especially due to negative global market sentiments. China’s Shanghai Composite Index tumbled a staggering 8.48 percent on Monday (27/07), its worst daily percentage fall since February 2007. Furthermore, Wall Street closed broadly lower on Friday (24/07) for the fourth straight day. Meanwhile, the Indonesian rupiah continued to depreciate against the US dollar, making Indonesian assets unattractive to foreign investors.

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  • AkzoNobel Targets Indonesia as New Growth Market

    AkzoNobel Targets Indonesia as New Growth Market

    AkzoNobel, the Dutch multinational that is primarily engaged in the fields of decorative paints, performance coatings and specialty chemicals, stated that it has shifted its focus from China to Southeast Asia, particularly Indonesia and Vietnam. Ton Buchner, Chief Executive Officer of AkzoNobel, said growth in China has lost its decade-long momentum and thus AkzoNobel will reduce investment realization in China and instead focus on new growth markets in Southeast Asia.

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  • Stock & Financial Markets Indonesia Reopen after Idul Fitri Holiday

    Stock & Financial Markets Indonesia Reopen after Idul Fitri Holiday

    Stock trading at the Indonesia Stock Exchange (IDX) restarted on Wednesday (22/07) after the four-day Idul Fitri holiday ended. Shortly after opening on Wednesday, Indonesia’s benchmark Jakarta Composite Index (IHSG) rose 0.50 percent on investors’ optimism about the recent good performance of global stock markets after debt-ridden Greece reached an agreement with its international creditors while turmoil in Chinese stocks faded. Not long after opening, however, Indonesian shares were dragged down by other Asian indices.

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  • ADB Cuts Asia’s Economic Growth Outlook on Slowing Growth China & USA

    ADB Cuts Asia’s Economic Growth Outlook on Slowing Growth China & USA

    The Asian Development Bank (ADB) announced that it cut its 2015 and 2016 economic growth forecasts for both China and other developing Asian countries due to the persistent economic slowdown in the world’s second-largest economy. China’s economic expansion is projected to reach 7 percent (y/y) in 2015 and 6.8 percent (y/y) in 2016. Both these outlooks were down 0.2 percentage point from the ADB’s previous projection. Due to the size of China’s economy, economic slowing will drag down growth in the whole Asian region.

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  • Indonesian Stocks Higher on Greece; Rupiah Weaker on Looming Fed Hike

    Indonesian Stocks Higher on Greece; Rupiah Weaker on Looming Fed Hike

    In line with the global trend, Indonesian stocks extended their gains on Tuesday morning (14/07). Most stock indices (across the globe) continue to move in green territory after debt-ridden Greece and its international creditors agreed - after a 17-hour long emergency meeting - to an austerity package that will keep Greece within the Eurozone. Indonesia’s benchmark Jakarta Composite Index (IHSG) had risen 0.60 percent to 4,923.36 points by 11:45 am local Jakarta time on Tuesday.

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  • IMF Cuts Global Growth Outlook 2015; BI Sees Flat Growth in Q2-2015

    IMF Cuts Global Growth Outlook 2015; BI Sees Flat Growth Q2-2015

    The International Monetary Fund (IMF) cut its forecast for global economic growth in 2015 to 3.3 percent (y/y), from 3.5 percent (y/y) previously, as the harsh winter impacted on the US economy and drags down global growth accordingly. In the first quarter of 2015, the US economy contracted 0.2 percent (y/y). Moreover, turmoil in Greece and China cause great volatility on international financial markets, the Washington-based institution said in an update to its World Economic Outlook (WEO) on Thursday (09/07).

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Latest Columns China

  • Contrary to Most Emerging Currencies, Indonesian Rupiah Depreciates

    On Wednesday (26/03), most emerging Asian currencies appreciated against the US dollar as the region's shares hit a two-week high on upbeat US economic data in combination with reduced concern over the crisis in Crimea (Ukraine). However, the Indonesian rupiah exchange rate was one of the exceptions to this trend on today's trading day. Based on the Bloomberg Dollar Index, the rupiah had depreciated 0.16 percent to IDR 11,412 at 16:15 local Jakarta time. Meanwhile, the Chinese yuan recovered some of its earlier losses.

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  • Jakarta Composite Index down due to Lower US Manufacturing PMI

    Jakarta Composite Index down due to Lower US Manufacturing PMI

    Despite technical indicators suggesting further upward movement of Indonesia's benchmark stock index (known as the Jakarta Composite Index or IHSG), a positive performance of the index was blocked by external factors. Several Asian stock indices were down responding to Markit's lower US manufacturing PMI (slipping to 55.5 from 57.1 in February 2014). Similarly, China and the Eurozone's manufacturing data showed slowing growth. Continued appreciation of the rupiah exchange rate managed to limit the decline of the IHSG.

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  • New Week Starts with Strong Indonesian Rupiah and Climbing IHSG

    At the start of the new week, Indonesia's benchmark stock index (Jakarta Composite Index or IHSG) was able to continue to climb, supported by positive Asian indices. Today, investors took advantage of discounted stocks in Asia as markets had fallen after the Federal Reserve's announcement last week that the quantitative easing program would be wound down further as well as a possible US interest rate hike in 2015 and 2016. However, the IHSG was also vulnerable to profit taking. Therefore, today's gain was limited.

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  • What about Indonesia's Coal Mining Sector? A Short Overview and Analysis

    Coal is one of the most important commodities for Indonesia in terms of state revenue as it accounts for about 85 percent of the country's total mining revenue. Therefore, when global coal prices fell sharply from 2011 (amid a slowing global economy), Indonesia felt the impact. In a response to lower coal prices, Indonesian miners actually increased coal output thus placing more downward pressure on coal prices and profit margins. Although the coal industry will remain frail for some time to come, long-term prospects are still strong.

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  • Indonesia's Jakarta Composite Index (IHSG) Up 0.58% on Tuesday

    Although we advise investors to remain careful as any negative sentiment will be used as a valid reason for profit taking, Indonesia's benchmark stock index (Jakarta Composite Index or IHSG) was up from the start of the trading day on Tuesday (11/03). The start of dividend payouts helped to offset concerns about possible interest rate hikes (in emerging markets) as well as the impact of weak indices on Wall Street and Europe on Monday (10/03). Asian stock indices, however, were positive on Tuesday, thus providing support for the IHSG.

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  • Indonesian Rupiah Exchange Rate's New Equilibrium at IDR 11,000?

    Indonesian Rupiah Exchange Rate's New Equilibrium at IDR 11,000?

    Coordinating Minister for Economic Affairs Hatta Rajasa said that the rupiah exchange rate's new equilibrium is at IDR 11,000 per US dollar. As the economic fundamentals of Indonesia's economy have improved in recent months - evidenced by the easing current account deficit and inflation - the rupiah has shown a strong performance, appreciating around six percent against the US dollar in 2014 (year to date). In fact, Rajasa warned that the rupiah should not strengthen too much as this impacts negatively on Indonesia's trade balance.

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  • Most Asian Currencies Down against USD but Indonesian Rupiah Appreciates

    Although immediately plunging 0.33 percent to IDR 11,478 per US dollar after its opening on Monday (10/03), the Indonesian rupiah exchange rate had appreciated 0.57 percent to IDR 11,375 per US dollar by 14:00 local Jakarta time (Bloomberg Dollar Index). The rupiah's performance today is in sharp contrast with other Asian currencies. As US nonfarm payrolls increased more than expected and Chinese exports fell sharply (18.1 percent year-on-year) in February 2014, the US dollar appreciated against most Asian currencies.

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  • Jakarta Composite Index Climbs 1.26% on Easing Tensions on Ukraine

    Rising indices on Wall Street on Tuesday (04/03) impacted positively on Asian indices the following day, including Indonesia's benchmark stock index (known as the Jakarta Composite Index or IHSG). As the political tensions in Ukraine have somewhat eased since Russian President Vladimir Putin said that Russia was not seeking to escalate the conflict, investors were again eager to invest in emerging market stocks; foreign investors were net buyers. Today's performance of the IHSG left a gap at 4,602-4,621 points.

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  • Despite Mixed Asian Indices, Jakarta Composite Index Up 0.80% on Thursday

    Despite Mixed Asian Indices, Jakarta Composite Index Up 0.80% on Thursday

    Yesterday (26/02) strengthening Asian stock indices were unable to push the benchmark index of Indonesia (Jakarta Composite Index/IHSG) into the green zone. Today (Thursday 27 February), we witnessed the contrary: the IHSG climbed 0.80 percent to 4,568.94 points, while Asian indices were mixed. Indices in China, the Sensex and the Nikkei fell, while others rose. Those that rose responded positively toward the release of higher sales of new US single-family homes. However, the conflict in the Ukraine limited their growth.

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  • Optimism about the Performance of the Indonesian Rupiah Rate in 2014

    Optimism about the Performance of Indonesian Rupiah Rate in 2014

    The central bank of Indonesia (Bank Indonesia) is optimistic that the country's currency will continue to appreciate against the US dollar in the first quarter of 2014. Executive Director at the Economic and Monetary Policy Department of Bank Indonesia Juda Agung said that there are two factors that impact positively on the performance of the Indonesian rupiah exchange rate: the improved global economy and strengthening domestic economic fundamentals. However, Agung declined to estimate the value of the rupiah by the end of Q1-2014.

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