Equities Rise Early; Investors Eye US Data and BI Policy Move
Jakarta. Jakarta Composite Index opened higher on Monday, starting the session at 8,397, up 27 points or 0.32 percent. The benchmark moved within the 8,391–8,423 range during the early trade.
RTI data showed 6.5 billion shares exchanged hands with turnover above Rp 3.6 trillion ($215.12 million). Transaction frequency reached 500,000 in the first 25 minutes, with 291 stocks up, 222 down, and 187 unchanged.
This week, investors will track Bank Indonesia’s rate decision amid the rupiah hovering in the 16,700 range, alongside improving global sentiment following the end of the US government shutdown.
Pilarmas Investindo Sekuritas said global cues are set to guide sentiment, with markets watching for a potential US government reopening by Thursday, rising volatility ahead of US inflation and labor data, and the release of the Federal Open Market Committee (FOMC) Meeting Minutes on November 20. Europe’s inflation is expected to stay around 2.1 percent year on year, while Japan’s GDP is projected to contract.
Domestically, attention shifts to BI’s Nov. 19 meeting. The central bank recorded Rp 3.79 trillion in outflows during the second week of November, mainly from SBN (government securities) and SRBI (Bank Indonesia Rupiah securities), while equities booked Rp 3.92 trillion in net foreign buys. Indonesia’s risk premium continues to improve, with the 5-year CDS easing to 73.51 bps.
Pilarmas noted the latest outflows reflect global pressures from higher US yields and a stronger dollar, prompting investors to rebalance away from emerging markets. Still, foreign appetite for local equities suggests rotation rather than withdrawal, while BI maintains tight policy coordination to support external stability.
On Wall Street, US stocks saw sharp swings Friday. The S&P 500 erased a 1.3 percent early drop before closing slightly lower at 6,734.11. The Dow Jones trimmed losses to 309 points at 47,147.48, while the Nasdaq ended up 30 points at 22,900.59.
AI-linked stocks again drove volatility. Nvidia plunged early before reversing to a 1.8 percent gain, pulling the broader market with it. The chipmaker remains up more than 40 percent year-to-date after years of outsized rallies.
Across Asia, Japan’s Nikkei slipped 94 points (-0.19 percent), Hong Kong’s Hang Seng lost 131 points (-0.50 percent), and China’s SSE edged down 2 points (- -0.05 percent). South Korea’s Kospi moved against Wall Street, rising 67 points (+1.64 percent).
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