MARKET REVIEW
The JCI closed 1.69% lower at 6,277 after opening at 6,392, with selling broad-based across most sectors. Energy fell 2.76%, industrials 2.31%, property 2.01% and basic materials 1.97%, while consumer cyclicals gained 0.33%. BYAN and BBRI were the largest index drags. Sentiment remained cautious as investors awaited Bank Indonesia’s 22-23 September policy decision, while the rupiah strengthened to IDR 17,838/USD.
Asian markets were mostly firmer despite Jakarta’s decline. The Nikkei rose 1.38%, SET Thailand 0.50%, ASX 200 0.30%, Hang Seng 0.18% and KOSPI 0.15%. India’s Sensex fell 0.30%, while Shenzhen was broadly flat, edging down 0.01%.
European equities opened mildly positive after Monday’s rally. The STOXX 600 gained around 0.14%, CAC 40 rose 0.26% and DAX 40 added 0.07%, while the FTSE 100 was nearly unchanged. Investors continued to track oil prices and geopolitical developments while assessing the inflation and rate outlook.
NEWS HIGHLIGHTS
- BEI – Minimum Price Lowered to IDR 1
- Domestic – Strong El Niño Delays Rainy Season
- Commodity Sector – Drought Threatens IMIP Nickel Production
- EURO – Approves Two-Billion-Share Rights Issue
- FUTR – Expands Into Drinking Water Infrastructure
- JSMR – Unit Lends IDR 6.55tn to JJC
- MEDC – First-Half Profit Jumps Nearly Ninefold
- MPXL – Forms Automotive Services Subsidiary
- PBSA – Shareholders Approve One-for-Two Stock Split
- PSSI – Plans 30-for-One Bonus Share Distribution
- VICO – Sets IDR 121.73bn Cash Dividend
Regards, Aldiracita Research
