Markets Shrug Off US Shutdown Worries, JCI Rises Early
Jakarta. The Jakarta Composite Index (JCI) opened higher on Tuesday, rising 14 points or 0.17 percent to 8,137, moving within the 8,113–8,150 range.
Market turnover reached Rp 2.3 trillion from 4.7 billion shares traded in 267,581 deals, with 254 stocks advancing, 236 declining, and 169 unchanged.
The Indonesia Stock Exchange (IDX) announced it is monitoring Unusual Market Activity (UMA) for three issuers: tile manufacturer Cahayaputra Asa Keramik (CAKK), holding company Lenox Pasifik Investama (LPPS), and specialty retailer Multitrend Indo (BABY).
Shares of LPPS surged 34.4 percent to Rp 168 on Monday, bringing its one-month gain to 93.1 percent. In contrast, BABY shares tumbled 7.8 percent over the past month.
“The announcement of Unusual Market Activity does not necessarily indicate a violation of capital market regulations,” IDX management said in a statement on Tuesday. “Investors are advised to pay attention to the companies’ responses to our requests for clarification, along with their performance and information disclosures.”
On Wall Street, US benchmarks ended higher overnight, with the S&P 500 adding 0.3 percent, the Dow Jones Industrial Average climbing 68 points or 0.1 percent, and the Nasdaq advancing 0.5 percent. All three indexes remain near record highs set last week.
Big Tech helped lead the rebound, with Amazon up 1.1 percent and Microsoft gaining 0.6 percent. Analysts noted that concerns over a potential US government shutdown could inject volatility into markets, especially if economic data releases are delayed.
If Congress fails to pass funding legislation by Tuesday night and President Donald Trump does not sign it, numerous federal offices nationwide will close temporarily, and nonexempt federal employees will be furloughed, straining both workers and the broader economy.
Trump has shown little inclination to entertain Democrats’ demands on health care, though he agreed to meet Monday with Schumer, Senate Majority Leader John Thune, House Speaker Mike Johnson, and House Democratic leader Hakeem Jeffries. The president has repeatedly signaled he expects a shutdown this week.
In overseas markets, European and Asian indexes mostly rose. London’s FTSE 100 added 0.2 percent as pharmaceutical giant GSK gained 2.2 percent following news that CEO Emma Walmsley will step down at year-end, to be succeeded by Chief Commercial Officer Luke Miels. Hong Kong’s Hang Seng index jumped 1.9 percent, while Tokyo’s Nikkei 225 slipped 0.7 percent.
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
Prabowo Says South Korea's Lee Asked Indonesia to Help Open Dialogue With North Korea
President Prabowo Subianto says South Korea's Lee Jae Myung asked Indonesia to help open dialogue with North Korea.
Pullman Hotel Fire in Jakarta Suspected to Stem From Electrical Fault
Police will deploy a forensic team to investigate a fire at Pullman Hotel in West Jakarta, with an electrical fault suspected as the cause.
Pertamina Slashes Prices of Three Fuels From Aug. 1
Pertamina cut prices for three non-subsidized fuels from Aug. 1.
Trump Too Stubborn to Rejoin Paris Agreement: Indonesian Minister
Indonesia's Environment Minister Jumhur Hidayat says other countries should deal with Trump quitting the Paris Accord.
Indofood Sales Rise 9% as Rupiah Weakness Hits First-Half Profit
Indofood’s first-half sales rose 9%, but net profit fell 19% as rupiah weakness increased unrealized foreign-exchange losses.Most Popular
