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Weekly Insight

Anticipate

05 September 2024
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Anticipate

Global Market Updates

The global stock market experienced a mixed week, with some major indices posting gains while others saw declines. The US markets were generally flat, with S&P 500 showing slight gains by 0.24%. There was an increase in the market's anticipation of a Fed rate pause, growing from 64% to 70% by the end of last week. As a result, treasury yield rose to 3.91% from 3.80%, and the dollar increased by 1.01%.

Asian Markets

Asian stock markets were generally mixed. SSE index continued to weaken further by -0.43% and KOSPI also experienced a decline by 1.01%. On the other hand, HIS and Nikkei 225 continued to increase by 2.14% and 0.74% respectively.


Indonesian Markets

While the dollar index rose, the rupiah strengthened, with the JISDOR closing at 15,473 (down from 15,554 last week). Both the stock market and bond market continued to attract foreign net inflows, although bond net inflows were relatively small. In line with this, both markets posted positive performance. The JCI rallied 1.68%, and the yield on 10-year government bonds declined slightly by 0.05%.


Weekly Highlight


Our Take:

Despite fading expectations of a Federal Reserve interest rate cut, the Indonesian market demonstrated resilience. Our funds experienced mixed performance relative to their respective benchmarks. Valbury Prime Dynamic Equity slightly down by -0.01% (benchmark: 0.43%), Valbury Investasi Berimbang increased 0.17% (benchmark: 0.21%), Valbury Stable Growth Fund gained 0.07% (benchmark: 0.15%), Valbury Money Market I increased by 0.1% (benchmark: 0.09%), and Valbury Liquid Fund paid out distributed income on 23 August 2023. Looking ahead, we anticipate a volatile market as market participants await the Federal Reserve's decision on August 19.

Based on current developments, the recommendation for investment to our investors (in order) :
Balanced Fund > Fixed Income Fund > Equity Fund > Money Market Fund.


Author : KBVAM Investment Team


DISCLAIMER :
INVESTMENT THROUGH MUTUAL FUNDS CONTAINS RISKS. PROSPECTIVE INVESTORS MUST READ AND UNDERSTAND THE PROSPECTUS BEFORE DECIDING TO INVEST THROUGH MUTUAL FUNDS. PAST PERFORMANCE DOES NOT REFLECT FUTURE PERFORMANCE.

This document was prepared based on information from reliable sources by PT KB Valbury Asset Management. PT KB Valbury Asset Management does not guarantee the accuracy, adequacy or completeness of the information and materials provided. PT KB Valbury Asset Management Indonesia is not responsible for any legal and financial consequences arising, whether against or suffered by any person or party and in any way deemed to be a result of actions taken on the basis of all or part of this document.