Jakarta (ANTARA) – The Indonesia Composite Stock Exchange (IHSG) at the Indonesia Stock Exchange (BEI), at the start of the week, strengthened following a rise in global stock exchanges.
The IHSG opened 20.21 points higher, or 0.33 percent, to 6,060.05. Meanwhile, the group of 45 leading stocks, or the LQ45 index, climbed by 5.17 points, or 0.62 percent, to 845.51.
“Investors continue to observe the effectiveness of the emergency public activity restrictions (PPKM) policy and the vaccination program in attempts to curb the COVID-19 infection rate,” the Lotus Security research team wrote in its review here on Monday.
Meanwhile, a surge in cases of the COVID-19 new variant of Delta globally and the emerging new variant of Lambda nationally had triggered concerns of a slow economic recovery, according to the team.
Bank Indonesia reported that the real sales index (IPR) was at 202.3 by June 2021 or grew slower as compared to 227.5 by May.
This week, investors are focusing on the release of trade balance data for June projected to be a US$4.7-billion surplus. The IHSG, during the start of this week, potentially moves variably in the 6,002-6,080 range, it highlighted.
Externally, the US equity markets rallied to the highest record of the trade closure on last Friday (July 9). Market players are awaiting the release of the US consumer price data (IHK) in June 2021 during this week, forecast to grow 4.9 percent yoy.
The investors’ focus also shifted to the issuer’s expectations on the financial performance growth during the second quarter of 2021 as compared to a significant decline during the second quarter of 2020.
In Europe, the European Central Bank (ECB) has set the new inflation target at two percent in a 18-month review, thereby hinting at a longer period of its loose policy. On the other hand, most issuers in European markets are expected to commence their financial report periods this week.
In Asia, the Japanese government announced a ban on spectators at the Tokyo Olympics following the emergency condition of COVID-19. Meanwhile, South Korea has also imposed the level 4 of social restrictions for the Seoul area on Friday (July 9).
In the Asian regional markets on Monday morning, the Nikkei Index spiked 583.06 points, or 2.09 percent, to 28,532.48, Hang Seng Index rose 93.54 points, or 0.34 percent, to 27,438.08, and the Straits Times Index climbed 13.6 points, or 0.43 percent, to 3,145.
Source: Antara News