SUN Benchmark Relatively Flat Amid Rupiah Depreciation
SUN Benchmark Relatively Flat Amid Rupiah Depreciation. The rupiah depreciated or traded above the IDR14,900/USD level, triggered by the Risk On investors in the Safe Haven Greenback.
Daily Report | 4 August 2022
Supply bottlenecks eased, the service industry resumed expansion as Factory Orders rose solidly. The US ISM Services Index in July expanded to 56.7 (Surv. 53.5); ending the 2Q22 decline.
Positive Economic Data sentiment Supported Bids for SUN Auctions
Positive economic data sentiment supported bids for SUN auctions. DJPPR data shows bids for SUN auctions reached IDR 36.9 trillion, higher than the previous SUN auction of IDR 29.5 trillion.
Daily Report | 3 August 2022
Pelosi’s visit puts the US in a position to defend Taiwan’s independence. Biden’s political stance against the principle of One China Policy, the claim that Taiwan is an integral part of China’s sovereignty, has made the China-Taiwan political escalation heat up.
BI Still Has Room to Hold BI 7DRRR
BI still has room to hold BI 7DRRR. A number of domestic economic data supported the market yesterday, such as: S&P Global Indonesia Manufacturing PMI in July which continued to expand or at the level of 51.3 (Jun. 50.2); and July’s Core CPI YoY of 2.86% (Jun. 2.63%) or still within BI’s target of 2%-4%, making BI still have room to hold back the BI 7DRRR.
Daily Report | 2 August 2022
Manufacturing data was above expectations, propelling stocks into the green zone, before Wall Street finally closed lower in early August.
Weekly Report | 1 August 2022
Big Cap. Earning Results and the Fed’s Hawkish slowdown supported the JCI to approach the psychological level of 7,000. In addition to Indonesia’s inflation which has not become a concern in the near future, investors appreciate the positives of the Big Four Banks and a number of Consumer Non-Cyclicals Earning Results.
SUN Benchmark Mixed Amid US Recession
SUN Benchmark Mixed Amid US Recession. In addition to Indonesia’s inflation which has not become a concern in the near future, the movement of the SUN market for the week amid the US economy officially recorded a recession, or GDP Annualized 2Q22 contracted -0.9% QoQ (Vs. 1Q22 -1.6% QoQ), in line with consumer spending, with Personal Consumption 2Q22 QoQ +1.0% and Core PCE 2Q22 QoQ +4.4%, slower than the previous quarter.
Daily Report | 1 August 2022
Tech stocks revival amid the Fed’s Dovish tone. The Tech sector has performed relatively well during the lockdown, making Big Tech.
