Jakarta, CNBC Indonesia– This week is the first week of September, the month investors tend to avoid investing in the stock market. However, in the first week of September, the Jakarta Composite Index (JCI) was more positive than the previous week.
The national benchmark stock exchange index rose 1.42% on an annual basispoint-to-pointthis week. In the daily period, the JCI only corrected on Wednesday (1/9/2021) and Thursday (2/9/2021) trading. On Friday (3/9/2021) trading yesterday, the JCI closed up 0.8% to 6,126.92
During the week, the JCI transaction value reached Rp 55.4 trillion and investors made a net buy (net buy) in the regular market amounting to Rp 1.6 trillion this week.
Meanwhile, the rupiah has succeeded in maintaining its strength against the United States (US) dollar this week. The strengthening of the rupiah against thegreenbackeven better than last week.
Launching fromRefinitivthis week, the rupiah was able to soar 1.08%point-to-pointto the level of Rp. 14,260/US$. On Friday (3/9/2021) trading yesterday, the rupiah closed slightly up 0.07%.
This week some economic data from the Blue Continent and Uncle Sam will move the market. On Tuesday EU unemployment rate data will be released. As of July, the EU unemployment rate was in the range of 7.6%, down from 7.8% in June.
The outbreak of the delta variant of the Covid-19 virus caused the economy to return to a standstill and travel restrictions along the Blue Continent which of course will most likely affect the EU unemployment rate, especially considering that this month is the month of many tourists visiting.
Furthermore, on Tuesday the Bank of Canada will hold a meeting to determine monetary policy and interest rates. The BoC continues to hold interest rates at 0.25% throughout the pandemic crisis and economists assume there will be no changes at this meeting.
However, this mini interest rate caused many people to consider the emergence of a bubble in the Canadian housing sector similar to what happened in the US when the Fed did tapering asset purchase.
Temporary That’s from the United States, the Core Producer Price Index for August will be released. Prices of commodities such as iron, copper and wood started to decline from their highs last month, however supply chains were still disrupted which caused late deliveries of raw materials which kept commodity prices high.
Meanwhile from the Yellow Continent, China’s August trade balance and inflation data will be monitored by the market on Tuesday and Thursday, not to forget the release of Japan’s economic growth in the second quarter will be monitored on Wednesday.
CNBC INDONESIA RESEARCH TEAM
(trp/trp)
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