Global Sentiments Will Likely Continue, Analysts Say

If rates continue hiking, it could lead to foreign capital outflow from Indonesia, especially with the current strengthening trend of the dollar index. This could result in many investors shifting to US Treasuries rather than moderately risky instruments like stocks.

Annisa Kurniasari Saumi

1 Nov 2023 - 21.07
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Global Sentiments Will Likely Continue, Analysts Say

Illustrasi - New York City, one of the world economic center./Bisnis/Curbed NY.

Bisnis, JAKARTA — Indonesia’s stock and bond markets are still expected to face headwinds throughout the year. Market players are keeping their eyes peeled for potential surprises from global sentiments.

Throughout October, the IDX Composite corrected by 2.7% to 6,752 after yesterday's trading turned positive with a 0.24% increase. As a result, the composite index recorded a 1.44% decline year-to-date.

Several sectors that still show positive performance year-to-date (YtD) include infrastructure, with a 45.97% increase, followed by the non-cyclical consumer sector (4.18%) and the transportation and logistics sector (1.05%).

Cheril Tanuwijaya, head of research at InvestasiKu (Mega Capital Sekuritas), said many surprises from global and domestic sources have affected the IDX Composite. These include the expanding conflict in the Middle East and US economic data that presents the possibility of the Fed raising interest rates due to increased inflation.

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Global Sentiments Will Likely Continue, Analysts Say

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