Indonesia’s Composite Stock Price Index opened 0.45 percent higher on Tuesday at 5,096.81, up 23.04 points, with early-session volume of about 3.72 million lots worth 108.52 billion rupiah.
China data in focus
Market sentiment for the session was set to be shaped by China trade data, Indonesian retail sales figures and US inflation numbers due later in the day. China’s October consumer price index fell to 0.7 percent year-on-year from 0.9 percent in September, below consensus of 0.8 percent. Monthly CPI was flat, after a 0.2 percent rise the previous month.
China’s producer price index told a different story. October PPI rose 5.7 percent year-on-year, up from 5.0 percent in September and above the 5.3 percent consensus. Producer goods prices climbed to 7.4 percent from 6.5 percent, while consumer goods producer prices fell 0.1 percent. Monthly PPI rose 0.7 percent, slower than the prior month’s 1.2 percent gain.
China’s October trade figures were due the same day, with export growth expected to slow to 33.5 percent year-on-year from 36.3 percent, and import growth forecast to rise to 32.0 percent from 31.0 percent. A trade surplus of $125.8 billion was the consensus estimate, compared with $133.53 billion in September.
Domestic and US releases ahead
Bank Indonesia’s consumer confidence index was due at 10.00 WIB. The index stood at 119.9 in October, up from 118.1 in September. The current economic condition index rose to 109.1 from 107.5, and the expectations index climbed to 130.7 from 128.7, while the durable goods purchase index held at 106.7.
The Bank of Japan’s summary of its October meeting was due at 06.50 WIB. The central bank had kept its policy rate at 1.25 percent at that meeting, and the summary was not expected to carry a new decision.
US October inflation data was due at 20.30 WIB. Headline inflation was expected to rise 3.9 percent year-on-year, up from 3.7 percent in September, with core inflation seen at 2.8 percent. Separately, Donald Trump was scheduled to meet Qatar’s prime minister, Sheikh Mohammed bin Abdulrahman Al-Thani, in Washington on 9 November as part of diplomatic efforts to end the Iran war, now in its ninth month, though a near-term deal remained doubtful.
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