Regional markets were quite volatile over the 3 sessions as Indonesian markets celebrated the Nyepi holiday & first fasting day, along with various sentiments rolling in; including the Federal Reserve’s decision to raise the Fed Fund Rate 25bps (as expected) to 5% and signaled (at least) one more hike this year, as well as ruling out the possibility of a rate cut this year.
Wall Street was quite volatile over the 3 sessions, as the Indonesian market celebrated the Nyepi holiday & first fasting day, where the Dow Jones was moving back and forth between positive and negative territory, as various sentiments rolled in including: the Federal Reserve’s decision to raise the Fed Fund Rate 25 bps (as expected) to 5% and signaled (at least) one more hike this year, and ruled out the possibility of a rate cut this year.
US stocks jumped on Monday (20/03/23) with Dow Jones leading a 1.2% gain on the back of investor relief after a deal to rescue Credit Suisse and central bank efforts to bolster confidence in the financial system.
US stocks jumped on Monday (20/03/23) with Dow Jones leading a 1.2% gain on the back of investor relief after a deal to rescue Credit Suisse and central bank efforts to bolster confidence in the financial system.
Several banking industry turmoil plagued the US & European markets last week, ending with US financial institutions came together to bail out First Republic Bank by USD 30 billion to save the bank from the downfall that occurred to SVB & Signature Bank.
Financial market sentiment is still fragile, considering that last week was filled with turbulence dominated by the US & European banking crises. The MSCI World Equity index, which tracks stocks in 49 countries, fell 0.55% on Friday (17/03/23).
All three Wall Street indexes closed in negative territory on Friday (17/03/23), dragged down by falling financial sector stocks, ending a turbulent week dominated by the US & European banking crisis outbreak.
BBNI has delivered a strong performance throughout 2022. BBNI posted their FY22 Net Profit of IDR 18.312 T, an increase of 68% YoY.
US financial stocks rose in unison, bringing Wall Street’s three indexes to post solid gains of over 1% on Thursday (16/03/23), with the Nasdaq leading the way at 2.48%.
