Shares of coal producers listed on Indonesia Stock Exchange (IDX) ended mostly lower ground Tuesday (Oct 9). Year-to-date, the stocks are mixed. Adaro Energy (ADRO), the second largest group, lost 5.1%, while Bumi Resources (BUMI), the largest group, fell 25%. Bukit Asam (PTBA) and Bayan Resources (BYAN) are big winners, gaining more than 80% respectively.
Read MoreAs concerns on trade tensions are rising global markets look set to decline today, extending yesterday’s correction. Wall Street closed mixed on Monday (Oct. 8) as investors remain cautious due to rising bond yields. China’s central bank decision to inject money into its cooling economy by reducing bank reserve levels also weighed on global stocks.
Read MoreGlobal stocks gained on Monday (Oct. 1) after news that Canada agreed to a revamped free trade deal with the U.S. and Mexico late Sunday (Sep. 30) after weeks of negotiations. Market participants are really viewing this as a...
Read MoreStocks in Asia are set to kick off the final quarter in muted fashion. Volumes are likely to be thin on Monday, with Hong Kong and Australian markets shut and China’s closed through Oct. 7, Bloomberg reported.
Read MoreAs expected the Federal Reserve on Wednesday (Sep 26) raised the target range for the federal funds rate by 25bps to 2%-2.25%. Policymakers increased growth forecasts for 2018 and expect one more rate hike this year.
Read MoreAsian markets were broadly negative on Tuesday amid concerns over the ongoing trade spat between the U.S. and China, Reuters reported. European shares, meanwhile, traded higher yesterday, with oil shares among the best performers as Brent crude oil hit another four-year high in early trading after news that OPEC leaders and Russia decided against an increase in output.
Read MoreGlobal stock markets retreated on Monday (Sep 24) amid concerns over the potential wider impact of a trade spat between China and the United States, while oil prices rallied to a four-year high after OPEC ignored U.S. calls to...
Read MoreGlobal markets are expected to maintain gains this week, but a Fed rate hike would undermine market sentiment. In Wall Street, Dow Jones gained on Friday (Sep. 21) at an all-time high. But stocks will have to navigate the Fed’s rate hike on Wednesday (Sep. 26), and its new economic forecast and statement, which is expected to sound more hawkish than dovish, Cnbc.com reported.
Read MoreMany were thinking that the trade conflict between the world’s top two economies is bad for U.S. growth. The U.S. economy will expand at a robust pace in coming quarters but slow to 2% by the end of 2019, according to forecasters polled by Reuters.
Read MoreThe appointment of businessman Erick Thohir as leader of campaign team for President Joko “Jokowi” Widodo and Ma’ruf Amin pair, also prompted the buying mood on Erick’s companies’ shares on the Indonesia Stock Exchange (IDX). As the price jump was significant, the IDX management decided to halt trading in shares of Mahaka Media (ABBA) since Sep. 14, for cooling down the market. ABBA was traded at Rp145 per share in Sept 14, and its has surged 190% from Rp50 since Sep 7, the date of Erick’s appointment as campaign leader.
Read MoreGlobal markets gained on Friday last week (Sep. 14) and are expected to extend gains this week amid declining tensions of global trade. Investors are also expecting there would not be another round of U.S, tariffs on Chinese goods going into effect.
Read MoreFollowing Asian markets, the composite index of the Indonesia Stock Exchange (IDX) ended lower 0.57% at 5,798 on Wednesday (Sep. 12), reversing 0.68% gain in morning trade yesterday. Domestic investors, however, dominated the buying in local stocks. While foreign investors booked a net sell of Rp684.4 billion, bringing year-to-date net sell to Rp53.87 trillion. The rupiah also weakened back to Rp14,863 against the U.S. dollar.
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