JAKARTA (Yosefardi) – Composite index of the Indonesia Stock Exchange (IDX) gained 0.1% to 4589 this morning opening, rebounding from recent losses due to concern over Ukraina issue. While regional markets were mostly in red zone, following the selloff in Wall Street Monday (March 3).

Nymex’s crude oil retreated 0.13% to US$104.78 per barrel in Asian trading while gold inched up 0.01% to US$1,350.30 per ounce.

In Jakarta bourse, Bank Negara Indonesia gained 0.79%, Bank Mandiri rose 0.82%, Bumi Serpong Damai increased 0.66%, Adhi Karya up 0.64%, Waskita Karya hiked 0.76%, and Wijaya Karya lifted 1.86%.

Indonesia recorded trade deficit of US$430.6 million in January 2014, after reporting a surplus for earlier three consecutive months. However, Bank Indonesia is optimistic the trade balance would turn to surplus in first quarter of this year.

Central Bureau of Statistics (BPS) revealed that February 2014 inflation was 0.26%, compared to 1.07% in January 2013. Year-on-year inflation was 7.75%. Year to date inflation reached 1.33%. Bank Indonesia predicts the inflation would decline further while BPS expects the deflation to occur this month. We will see whether Bank Indonesia will cut its benchmark BI Rate.

The government had Monday (March 3) raised Rp19.32 trillion through offering retail Islamic bonds (sukuk), series SR-006, with tenor of 3 years.