JAKARTA (Yosefardi) – Composite index of the Indonesia Stock Exchange (IDX) ended higher 1.45% at 4850 on Wednesday (August 5) led by gains in banking stocks.
Asian stock markets were mostly higher Wednesday as investors waited for U.S. jobs data to assess when the Federal Reserve will increase interest rates that have been at a record low, AP reported. While a Federal Reserve official said the central bank was close to raising interest rates.
Among banking stocks, Bank Negara Indonesia jumped 6.36%, Bank Rakyat Indonesia surged 3.85%, Bank Central Asia hiked 3.01%, Bank Mandiri climbed 2.89%, and Bank Tabungan Negara lifted 5.56%.
Astra International also gained 2.64%, AKR Corporindo lifted 3.95%, Alam Sutera rose 2.97%, Indika Energy jumped 4.86%, Indo Tambangraya surged 6.93%, London Sumatra hiked 3.03%, Bukit Asam lifted 4.8%, and Telkom climbed 2.26%.
Other gainers were Krakatau Steel (+24.77%), PT PP (+3.03%), Matahari Dept Store (+3.43%), Semen Baturaja (+5.48%),
The Indonesian economy (GDP) in the second quarter expanded by 3.78%qtq, that led the year on year growth to fall at 4.67%yoy. The number is slightly lower than our forecast (4.73%), but slightly higher above the market consensus (4.64%yoy). The economy expanded on a quarterly basis, but on a yearly basis, the growth pace is slower than the Q1’s number (at 4.72%yoy)
Nymex’s crude oil rose 0.43% to US$46.33 per barrel while gold declined 0.59% to US$1,084.10 per ounce. The rupiah weakened further to Rp13,517 against the US dollar.