DAILY UPDATE September 1, 2023
MACROECONOMIC NEWS
South Korea Economy - South Korean exports fell for an 11th consecutive month in August versus a year earlier, but the decline was milder than the previous month as well as market expectations.Overseas sales from Asia's fourth-largest economy fell 8.4% year-on-year to $51.87 billion in August, trade data showed on Friday, after a 16.4% drop in July - the worst in six months.
US Economy
– The Commerce Department's personalconsumption expenditures (PCE) index rose by 3.3% in the 12 months through July, meeting estimates. The figure was faster than an increase of 3.0% in the prior month.
India Economy - India’s GDP growth for the first quarter of the current fiscal year 23-24 was 7.8%, as per the data released by the National Statistical Office (NSO). The GDP growth for the January-March quarter of 2022-23 was 6.1 percent. The GDP expanded by 13.1 percent in the April-June quarter of 2022-23.
CORPORATE NEWS
PGAS - PT Perusahaan Gas Negara (PGN) recorded USD 1.78 billion in revenue (+2% YoY) and USD 145.32 million (-39% YoY) in net income for H1-2023. Additionally, PGN is set to invest IDR 50 billion in a project to build a natural gas distribution pipeline network in the Central Government Core Area (KIPP) of the Nusantara Capital City (IKN).
WTON - PT Wijaya Karya Beton (Wika Beton) has secured a contract valued at IDR 195.7 billion for the supply of precast and ready-mix concrete for the Nusantara Capital City (IKN) development project until August 2023. The contract encompasses the delivery of ready-mix concrete worth IDR 138.89 billion and PC Spun Pile products valued at IDR 56.81 billion. These materials will be utilized in two infrastructure development projects within the region, specifically for the IKN Toll Road Section 3A (Karangjoang-KKT Kariangau Segment) and the IKN Toll Road Section 3B (Kariangau-Simpang Tempadung KKT Segment).
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Commodities
Last Price Chg %Chg
Oil NYMEX 83.7 2.0 2.4
Oil Brent 86.9 1.0 1.2
Coal Newcastle 156.0
Nickel 20289 -342.0 -1.7
Tin 25396 -79.0 -0.3
Gold 1943 -4.0 -0.2
CPO Rott 1005 -2.5 -0.2
CPO Malay 4010
Indo Gov. Bond ields
Last Yield Chg %Chg 1 year 6.361 0.03 0.41 3 year 6.259 -0.01 -0.22 5 year 6.186 0.00 0.02 10 year 6.381 0.00 0.03 15 year 6.493 0.00 0.00 30 year 6.721 -0.01 -0.19
Currency
Closing Last Trade
US$ - IDR 15,230 15,230
US$ - Yen 145.54 145.33
Euro - US$ 1.0843 1.0851
US$ - SG$ 1.351 1.350
Equity Markets
Closing % Change
Dow Jones 34,722 -0.5
NASDAQ 14,035 0.1
S&P 500 4,508 -0.2
MSCI excl. Jap 622 -0.4
Nikkei 32,764 0.4
Shanghai Comp 3,120 -1
Hang Seng 18,382 -1
STI 3,233 0
JCI 6,953 0
Indo ETF (IDX) 18 -1
Indo ETF (EIDO) 23 -1
ADHI - PT Adhi Karya has booked IDR 18.8 trillion new contracts as of July 2023 (+23% YoY), representing 70% YoY of
the company’s new contracts target of IDR 27 trillion.
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