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Jakarta, CNBC Indonesia – Indonesian financial markets moved higher in trading this week. The Jakarta Composite Index (IHSG), the rupee exchange rate and the price of government bonds all posted impressive performance.
Throughout this week, JCI was up 4.04% point-to-point. JCI is in fifth position compared to other major Asian indices.
Asian markets saw a fantastic strengthening last week, with Hong Kong’s Hang Seng Index ranking first, which rose 6.66% over the past week. Meanwhile, the lowest index is held by the Shanghai index in China.
Meanwhile, the exchange rate of the rupee against the US dollar (US) was quite encouraging last week, where the rupee strengthened by 2.94% to a level of Rp 14,190. This time, the rupee is the best currency in Asia.
Then, government bond prices strengthened, which was reflected in lower yields. This weekend, the return on government securities (SBN) for the 10-year benchmark reached 6.385%, the lowest since February 2017.
The sentiment that has made the Indonesian financial market share perform encouragingly is of course the news about the big event every four years in the US, namely the general (presidential) election.
On November 3, the American public participated in a democratic party to determine who should be the seat of the 46th American president in the White House. And, last Sunday (8/11/2020), the Democratic presidential candidate and current rival of Donald Trump, Joseph ‘Joe’ Biden, finally came out as the winner in the presidential elections of the United States (USA).
