Monthly Market Summary September 2024

Inflation grew more slowly in September 2024 at 1.84% year on year from 2.12% year on year in August 2024, which was caused by a slowdown in energy, food and beverage and tobacco inflation for 5 consecutive months. 

In September 2024, the price of IndoGB will move up with the 10-year bond yield falling by 17 bps to 6.46%. Both the JCI and MSCI Indonesia weakened 1.86% and 0.96% month on month respectively in September 2024 due to the potential for quite large stimulus from China and encouraging portfolio rotation to China. 

Even though foreign investors made net sales of US$387.6 million in the last week of September, Bloomberg still recorded a net inflow from foreign investors of US$1.42 billion throughout September 2024

See more in the Monthly Market Summary for September 2024 from Principal Indonesia.