Stock Market Update Indonesia: Down 1.01% on Global Concerns

The closed meeting between president-elect Joko Widodo (Jokowi) and the newly-elected speakers of the House of Representatives (Setya Novanto), People’s Consultative Assembly (Zulkifli Hasan), and Regional Representative Council (Irman Gusman) did not seem to impact on the market. The four men met last Friday to discuss Jokowi’s inauguration (scheduled for 20 October 2014).

Although China’s exports and imports in September beat expectations (thus providing positive market sentiments it indicates that the world’s second-largest economy searches for sources of growth to meet its 7.5 percent annual growth target), it could not offset the weakening performance of most Asian stock indices.

One notable loser was Indonesian coal miner Adaro Energy, plunged 7.3 percent as falling oil prices weighed on energy related stocks across the region.

The Indonesian rupiah exchange rate appreciated slightly. Vice Chairman of the Federal Reserve Stanley Fischer said that the US central bank may maintain low interest rates as various outlooks for global economic growth have been revised down.

Bank Indonesia's benchmark rupiah rate (Jakarta Interbank Spot Dollar Rate, abbreviated JISDOR) appreciated 0. 04 percent to IDR 12,202 per US dollar on Monday (13/10).

| Source: Bank Indonesia

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