JAKARTA (Yosefardi) – Composite index of the Indonesia Stock Exchange (IDX) opened flat this morning, only inched up 0.03% to 4947 while Asia equities rose after the Fed sounded more dovish than many had expected.
Bank Indonesia (BI) schedules to make its decision on benchmark BI Rate today (June 18), whether to maintain at current level of 7.5% for five consecutive months or not. The very likelihood is that BI may opt to keep the current level as the capital outflow has been the big issue at the moment when many people are expecting the US Fed rate will be hiked in next few months.
Nymex’s crude oil declined 0.3% to US$59.74 per barrel in Asian trading while gold rose 0.73% to US$1,185 per ounce.
Bank Danamon gained 2.9%, Bumi Resources rose 1.64%, Charoen Pokphand increased 1%, Kalbe Farma hiked 1.2%, United Tractors lifted 1.13%, Matahari Department Store climbed 1.8%, Media Nusantara Citra gained 2.53%, Pakuwon Jati advanced 1.2%, and MNC Investama jumped 3%.
While Bank Rakyat Indonesia fell 1.1%, Adaro Energy lost 1.2%, Bank Negara Indonesia shed 1.3%, Jababeka slipped 1.2%, and Lippo Karawaci slashed 1.35%.
Trading was quiet as some investors may opt to wait and see the development of the market sentiment and economic direction. Some may be off for having their first day of Ramadhan fasting.