Monthly Market Summary October 2024

This October, the Consumer Price Index grew at the slowest rate in the last three years, for1.71% y-y. Indonesia's manufacturing PMI index was also still in contraction territory at 49.2 in October. The fiscal deficit widened to 153.7 trillion Rupiah (0.7% GDP) in 8 months of 2024. Meanwhile, the trade surplus jumped higher than expected to USD 3.3 billion. From the global macro economy, Trump's victory in US Election will have an impact on changes to US trade, immigration, energy and overall fiscal policies. In October 2024, IndoGB moved down by 1.01% MoM. GIDU 10Yr decreased by 2.72% MoM. There was a selloff on the global stock market which was reflected in the increase in UST-10 year yields and DXY which rose 3.2% to 104. Increasing geopolitical risks and uncertainty over the US election were also reinforcing factors for this. Most Asian stock markets experienced weakness, except for Taiwan which increased by 3.9%. On the domestic side, the performance of large cap stocks was lower than the JCI which increased by 0.61%. See more in the following Monthly Market Summary October 2024.