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Indonesia: Rupiah, JCI slide at Monday’s opening

2016/01/11

The Jakarta Composite Index (JCI) slid 30.8 points to 4,515.5 at Monday’s opening and declined a further 63 points, or 1.4 %, to 4,482.86 by 10:30 a.m. Meanwhile, the rupiah tumbled in the spot market to Rp 13,926 per US dollar.

Market analyst at Bank Mandiri Rully Arya Wisnubroto predicted that the strengthening greenback on Monday would apply pressure to the market, as speculation rose about good economic indicators any minute at this time to be released in the US.

However Rully, as quoted by kompas.com, predicted that the rupiah would manage to remain below the psychological level of Rp 14,000 per US dollar, as the Indonesian central bank had secured enough liquidity to intervene if necessary.

Based on the new data, Bank Indonesia reported a US$105.9 billion foreign-exchange reserve as of December, down $6 billion compared to last years’ position at $111.9 billion.

Meanwhile, the Indonesia Stock Exchange (IDX) on Monday morning recorded 187 stocks declining, 41 stocks gaining and the remaining 61 stocks unchanged. Transactions numbered Rp 528 billion, involving 402.25 million shares - See additional

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