Winning streak continue for Indonesian market
• Indonesian stocks rose extended gains for a sixth consecutive day on Monday after Wall Street notched their best week since June on prospects for slower pace of tightening. Meanwhile, investors in the country are keeping an eye on earnings.
• Foreign direct investment into Indonesia (excluding investment in banking and the oil and gas sectors) surged 63.6% year-on-year to a new record peak of Rp168.9 trillion in the third quarter of 2022.
• Shares in mainland China were down with the Hang Seng Index plunged more than 6%, the biggest rout since 2008 global financial crisis, and the yuan weakened to a 14-year low as investors were spooked by Chinese President Xi Jinping’s decision to hand key economic posts to loyalists who back his zero-Covid strategy.
• Chinese data showed economy advanced 3.9% yoy in Q3 of 2022. industrial production advanced by 6.3% yoy in September 2022.
Indonesian stocks rose extended gains for a sixth consecutive day on Monday after Wall Street notched their best week since June on prospects for slower pace of tightening. Meanwhile, investors in the country are keeping an eye on earnings.
Jakarta composite rose 35.273 points (+0.503%) to 7,053.044 while LQ45 climbed 0.61% to 1,006.50. There were 23.841 billion shares traded worth of Rp13.225 trillion, including transaction of Rp2.06 trillion in negotiation market. 301 shares rose while 245 declined and 151 unchanged.
According to JISDOR Monday Afternoon, rupiah was at 15,590, fell 20 points (0.13%), while spot rate strengthened 45 points (0.29%) to 15,585.
Foreign direct investment into Indonesia (excluding investment in banking and the oil and gas sectors) surged 63.6% year-on-year to a new record peak of Rp168.9 trillion in the third quarter of 2022, the biggest rise in the past decade, accelerating from a 39.7% rise in the previous period, amid efforts by the government to ease business and licensing rules as COVID-19 situations improved further.
Separately, Coordinating Minister of Maritime and Investment Affairs, Luhut Pandjaitan in an interview Monday said that Indonesia’s exports could hit a record $280 billion this year and could rise further to top $300 billion by 2024, with nickel-based steel shipments rising sharply after the country banned nickel ore exports, while shipments of other commodities got a boost from high prices. The government is now preparing to regulate exports of other commodities, such as copper, bauxite and tin.
On earnings, AKRA booked a net income of Rp796,98 billion in September, increased 96,21% from the same period last year.
IATA secured a net profit of US$44.95 million as of September, soared 344.75% compared to the same period last year of US$10.11 million.
ADCP recorded a net profit of Rp51.82 billion, increased 10.70% compared to Rp46.81 billion in the third quarter of 2021.
Global markets
Asian stocks were mixed with Singapore, Malaysia and India’s markets are closed for a holiday while Chinese markets tumbled in Monday trade.
Shares in mainland China were down with the Hang Seng Index plunged more than 6%, the biggest rout since 2008 global financial crisis, and the yuan weakened to a 14-year low as investors were spooked by Chinese President Xi Jinping’s decision to hand key economic posts to loyalists who back his zero-Covid strategy.
In Europe, markets opened higher fueled by reports that the Fed would soon be ready to debate on how to slow the pace of tightening after the November FOMC meeting. In the meantime, the pound rose as former finance minister Rishi Sunak was set to become Britain’s prime minister as Boris Johnson had withdrawn from the contest.
A series of delayed Chinese data showed economy advanced 3.9% yoy in Q3 of 2022, exceeding market consensus of 3.4% and picking up from a 0.4% growth in Q2, bringing the year-to-date growth to 3%, well below the official target of around 5.5%, reflecting COVID measures, especially during Q2, softening exports, and a property downturn. Meanwhile, industrial production advanced by 6.3% yoy in September 2022, beating market consensus of a 4.5% growth and August’s reading of 4.2%.
Also, China’s trade surplus climbed to $84.74 billion in September 2022 from $67.78 billion in the same month a year earlier, beating market forecasts of $81 billion. Shipments increased 5.7% yoy, above market consensus of 4.1%; while imports were up 0.3%, the slowest growth since a stagnation in April. Retail trade rose by 2.5% year-on-year in September 2022, missing market estimates of 3.3% and slowing from a 5.4% growth a month earlier.
While China reported macro data that beat expectation, the leadership reshuffle and tensions between China and US continue to drag down sentiment and adds uncertainty.
The au Jibun Bank Japan Manufacturing PMI inched down to 50.7 in October 2022 from a final 50.8 in September, a preliminary estimate showed.
Japanese policy makers clearly intervened again to support the yen on Monday, slamming the dollar down to as low as 145.28 from an early peak of 149.70
European investors braced for a busy week of earnings and a key interest rate decision from the European Central Bank.
Commodity markets
Oil prices fell on Monday after demand in the world’s largest crude importer remained lackluster in September as strict COVID-19 policy and fuel export curbs depress consumption.
Despite rising from August, China’s crude imports in September of 9.79 million barrels per day were 2% below the amount brought in a year earlier, customs data showed on Monday.
Natural gas futures linked to Europe’s wholesale gas price touched a new low since early June and about 70% down from the highs of August as weather in Europe is expected to remain milder than usual for this time of the year until the end of the month.
Gold prices were slightly lower following a big jump in Friday session amid hopes that the U.S. Federal Reserve will start discussing a less aggressive policy stance.
Crude Oil WTI.. 83.80 (-1.47%)
Brent Oil.. 90.09 (-1.37%)
US Natural Gas.. 5.43 (-0.84%)
Gold.. 1,653.85 (-0.15%)
Silver.. 19.15 (+0.43%)
Copper.. 3.44 (-2.32%)
Nickel.. 22,279.00 (+0.42%)
Major index this afternoon:
STOXX 50.. 3,491.30 (+0.42%)
CAC 40.. 6,068.71 (+0.55%)
DAX.. 12,801.61 (+0.56%)
FTSE.. 6,917.30 (-0.75%)
NIKKEI.. 26,974.90 (+0.31%)
HSI.. 15,180.69 (-6.36%)
SHCOMP.. 2,977.56 (-2.02%)
TAIEX.. 12,856.98 (+0.29%)
KOSPI.. 2,236.16 (+1.04%)
S&P/ASX 200.. 6,779.40 (+1.54%)
DOW FUT.. 31,034.00 (-0.29%)
S&P FUT.. 3,752.00 (-0.32%)
NASDAQ FUT.. 11,312.50 (-0.4%)
JCI @ 7053.04 (+35.273 pts) (+0.503%)
(H: 7092.17 ; L: 7017.46)
(Value: 13.004 T (NG 1.972 T)
Volume: 215.167 Lot (NG 22.264 M Lot)
(Adv. 301; Decl. 245; Unchg. 151 shares)
Incl.Crossing**
SMMA @ 9500 ~ 431.42 B
BBCA @ 8847 ~ 315.35 B
BMRI @ 10338 ~ 288.33 B
BBRI @ 4490 ~ 154.10 B
IDXHIDIV20…581.29 (+0.94%)
IDX30…529.79 (+0.61%)
IDX80…141.62 (+0.44%)
LQ45…1006.50 (+0.61%)
USD/IDR:
JISDOR : 15,610 ; 15,590
SPOT: 15,580 ; 15,585
JCI for tomorrow:*
Support : 7020 ; 7000
Resist : 7080 ; 7100
8 MARKETs DRIVEN BY SECTOR
IDXBASIC (+0.11%) (1.11 T)
IDXENERGY (+0.85%) (2.43 T)
IDXFINANCE (+1.52%) (5.33 T)
IDXHEALTH (+0.96%) (436.88 B)
IDXINDUST (+1.28%) (575.33 B)
IDXINFRA (-0.68%) (791.68 B)
IDXPROPERT (-0.10%) (145.53 B)
IDXTECHNO (-0.84%) (484.43 B)
7 INDEX MOVER FOR LQ45
BBCA @ 8900 (+2.89%)
BBRI @ 4500 (+1.58%)
GOTO @ 190 (-5.00%)
TLKM @ 4410 (+1.15%)
BMRI @ 10250 (-0.97%)
ASII @ 6650 (+1.14%)
TPIA @ 2460 (-0.40%)
7 TOP GAINERs
PSDN @ 109 (+34.57%)
ATAP @ 103 (+25.61%)
BBYB @ 980 (+24.84%)
MRAT @ 635 (+22.12%)
SRAJ @ 191 (+19.38%)
TNCA @ 440 (+17.02%)
LION @ 438 (+16.49%)
7 TOP LOSERs
MGLV @ 133 (-8.28%)
ALMI @ 372 (-7.00%)
SICO @ 266 (-6.99%)
EAST @ 107 (-6.96%)
VICO @ 216 (-6.90%)
RELI @ 815 (-6.86%)
KRYA @ 332 (-6.74%)
8 MOST ACTIVE STOCKs BY VALUE
BBRI @ 4500 (+1.58%)
BBCA @ 8900 (+2.89%)
BUMI @ 189 (+3.85%)
BMRI @ 10250 (-0.97%)
BBNI @ 9350 (+3.89%)
TLKM @ 4410 (+1.15%)
TCPI @ 9925 (+2.06%)
GOTO @ 190 (-5.00%)
8 MOST ACTIVE STOCKs BY VOLUME
BUMI @ 189 (30,699,092 Lot)
GOTO @ 190 (13,507,194 Lot)
BRMS @ 186 (12,332,553 Lot)
ZINC @ 64 (11,173,788 Lot)
BIPI @ 153 (8,330,358 Lot)
FREN @ 79 (7,500,267 Lot)
PNBS @ 91 (4,928,463 Lot)
BNBR @ 91 (4,765,349 Lot)