Jakarta Stocks Edge Higher as Asian Markets Rally on Japan’s Political Shift
Jakarta. Indonesia’s main stock gauge ended higher on Monday, lifted by upbeat sentiment across Asian markets following political developments in Japan and renewed expectations of the US interest rate cuts.
The benchmark Indonesia Stock Exchange index rose 21.6 points, or 0.27 percent, to close at 8,139 after moving in a tight range between 8,104 and 8,176 throughout the day.
More than 45.6 billion shares changed hands in 2.9 million transactions, with a total turnover of Rp 28.1 trillion ($1.7 billion). Market capitalization reached Rp 15,249.6 trillion ($919 billion). There were 260 gainers against 419 decliners, while 119 stocks were unchanged.
Energy company Chandra Daya Investasi (CDIA) led the gainers with a 15.6 percent jump, followed by GTS International (GTSI), which rose 14 percent. Coal miner Petrindo Jaya Kreasi (CUAN) advanced 11.3 percent, and fisheries firm Dharma Samudera Fishing (DSFI) gained 10.3 percent.
Brokerage company Pilarmas Investindo Sekuritas said the rise in Asian equities came amid concerns over a potential US government shutdown and growing expectations that the Federal Reserve may soon cut interest rates.
“The Fed faces a complex and challenging situation in determining its next policy direction, as inflationary pressures persist while labor market indicators show signs of weakening,” Pilarmas noted.
Fed Governor Phillip Jefferson earlier warned of heightened risks to both price stability and employment, while Dallas Fed President Lorie Logan said further policy moves could inadvertently reignite inflationary pressures despite a weakening labor market.
Asian markets largely ended in positive territory, with Japan’s Nikkei 225 surging 4.8 percent to 47,944.76 after the ruling Liberal Democratic Party elected Sanae Takaichi, a fiscal dove and ally of the late former Prime Minister Shinzo Abe, as its new leader. The move positions her to become Japan’s first female prime minister, a development seen as likely to sustain the country’s market-friendly policies.
However, Pilarmas warned that foreign selling pressure continues to weigh on the Indonesian market. Bank Indonesia reported a Rp 9.76 trillion foreign capital outflow in the first week of October, heightening the country’s investment risk premium amid global uncertainty.
“Concerns over domestic financial stability and external resilience remain as global markets face persistent volatility,” Pilarmas added
Tags: Keywords:Related Articles
JCI Ends Week Higher as Investors Digest Earnings, Fed Decision
JCI rose 0.64% as strong corporate earnings offset uncertainty over Bank Indonesia’s leadership and foreign outflows.
Indonesian Stocks Advance as Wall Street Surge Offsets Budget Concerns
Indonesian stocks rose 0.54% as a Wall Street tech rally and new 40-year mortgage policy outweighed budget allocation concerns.
Indonesia Stocks Jump 1.6% as Blue Chips, Earnings Offset BI Succession Concerns
Indonesian stocks jumped 1.56% as blue chips and earnings optimism outweighed uncertainty over Bank Indonesia's next governor.
Indonesian Stocks Rise as Investors Weigh Fed Signals, BI Independence Risk
Indonesian stocks opened 0.57% higher as investors assessed the Fed's rate decision, BI independence concerns and capital market reforms.
Indonesian Stocks Fall as Rating Agencies Raise Questions Over BI Independence
Indonesian stocks fell 0.64% as concerns over Bank Indonesia's independence and the Fed's policy decision weighed on sentiment.
Indonesian Stocks Bounce Back as Investors Eye Fed Verdict, Fresh US Tariff Threats
Indonesian stocks opened higher as investors awaited the Fed decision, BI governor succession, and monitored fresh US tariff risks.
Indonesian Stocks Slide Nearly 1% at Tuesday as Investors Weigh BI Transition, Fed Outlook
Indonesian stocks slid nearly 1% as investors weighed Bank Indonesia's leadership transition and awaited the Fed's policy decision.
BNI Plans Rp 627 Billion Share Buyback
Bank Negara Indonesia plans a Rp 627 billion share buyback after its stock fell 24% this year despite solid earnings and loan growth.
Indonesian Stocks Open Lower as BI Leadership Transition, Fed Decision Keep Investors Cautious
Indonesian stocks opened lower as BI's leadership transition and the Fed decision kept investors cautious. JCI slipped 0.16%.
Indonesia Stocks Fall as Perry's Exit Raises Questions Over BI Succession
Indonesia stocks slipped as Perry Warjiyo's resignation fueled uncertainty over Bank Indonesia's leadership despite a broader Asia rally.The Latest
Indonesia Sets August CPO Reference Price at $996.52 per Ton
Indonesia lowered its August CPO reference price to $996.52 per ton, reducing the export duty on palm oil shipments.
Five Dead, 227 Rescued After Ferry Fire Off Madura
At least 227 people have been rescued and five have died after a ferry caught fire off Madura, rescuers say.
AI’s Thirst for Water to Soar 129%, UN Warns
As many as 40% of the data centers in the world are in high-water stress areas, UN envoy Retno Marsudi says.
Philippines Eyes ASEAN Halal Standards
The Philippines is eyeing a halal recognition deal with Indonesia as it seeks regional standards for Sharia-compliant goods.
Ferry Carrying 250 People Catches Fire Off Madura, Rescue Underway
A rescue operation is underway after a ferry carrying about 250 people caught fire off Madura, East Java.Most Popular
