Market Review
The Jakarta Composite Index closed at 5,886, down 0.28% (16.3 points), paring intraday losses of as much as 2% as bonds and stocks resumed their selloff on rising rate-hike expectations. Basic materials and energy were the heaviest drags, with foreign investors net sellers of 252.6 billion rupiah. The benchmark 10-year yield surged toward its highest since 2022 as Bank Indonesia let yields rise to defend the rupiah.
Asian markets were mixed. The Nikkei edged up 0.06% and South Korea’s KOSPI advanced 0.43%, while Hong Kong’s Hang Seng fell 0.65% and Shenzhen slipped 0.66%. India’s Sensex declined 0.20% and Australia’s ASX 200 lost 0.23%, with sentiment dampened by gains in US Treasury yields and renewed bets the Federal Reserve may need to tighten to counter inflation.
European markets opened firmer. The FTSE 100 rose 0.86% and the EuroStoxx 50 gained 0.94%, supported by resilient corporate earnings even as escalating US-Iran tensions kept oil prices and Middle East supply risks in focus.
Regards, Aldiracita Research
