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Market Vectors Indonesia Small Cap ETF (IDXJ)

  • Tue, Mar. 17, 6:52 AM
    • As expected, Indonesia's central bank, which last month surprisingly cut its benchmark rate, held it steady today at 7.50%.
    • At the meeting, it also maintained its overnight deposit facility rate and lending facility rate, at 5.50% and 8.00% respectively.
    • Previously: Monetary policy around the world (Mar. 17 2015)
    | Comment!
  • Oct. 6, 2014, 2:41 PM
    • "Proactive stimulus measures and restored political stability" are cited by Credit Suisse as it upgrades Thailand to a Buy from Neutral. The team note's last week's approval of a $11B spending package (roughly 2.8% of GDP).
    • ETFs: THD
    • Indian stocks need to take a breather from a big run, says Credit Suisse, lowering the country to Neutral from Buy.
    • Valuation is a concern for Indonesia, says Credit Suisse, cutting the country to Sell from Neutral. At 14.4x forward earnings, stocks are at a 16% premium to their 10-year historical average at the same time 3-month revisions of consensus earnings have tuned south.
    | 1 Comment
  • Aug. 11, 2014, 6:58 AM
    • Indonesian officials say there are no plans to withdraw the seven-month old ban on exports of unprocessed nickel ore and bauxite.
    • The country was the world's top exporter of nickel ore and a major bauxite producer until this past January, when the ban was issued in order to force miners to build smelters.
    • Last month, the government allowed several firms producing partially processed minerals such as copper concentrate to resume exports, although Indonesia's chief economic minister Chairul Tanjung says the same rationale does not apply to unprocessed exports of nickel ore and bauxite.
    • "Nickel is different because if you are smelting in Indonesia the added value is much higher than copper," says Tanjung. "Because of that it's a separate issue."
    | Comment!
  • Jul. 23, 2014, 1:13 PM
    • “Jokowi’s victory is potentially as important as Modi’s was for India,” says Jim O'Neill, formerly of Goldman Sachs and "BRIC" coinage fame.
    • Indonesia, says O'Neill has massive potential and Jokowi could be the man to unleash it, but he's got plenty of vested interests to take on first. Then there's expectations - they're perhaps higher in Indonesia than they are in India, meaning there's a particularly large amount of room for disappointment.
    • The Jakarta Composite is up 21.1% YTD, and 9.1% over the past year, and stocks trade at a pricey 16x forward earnings, notes Macquarie's Sam Le Cornu. It's a 20% premium to the 10-year historical average and not far from their 2008 peak valuations.
  • Jul. 10, 2014, 4:27 AM
    • The results of Indonesia's presidential election will remain uncertain for at least ten days, as 130M votes still need to be hand-counted across more than 6,000 inhabited islands.
    • Presidential candidates Widodo and Subianto have both claimed victory in preliminary tallies.
    • Indonesian stocks soared as much as 2.8% in early trading after foreign investors bought $263M worth of stock - nearly four times the daily average of foreign buying. The rupiah also gained, hitting a two-month high against the dollar.
    | Comment!
  • Jul. 9, 2014, 3:55 PM
    • Indonesian ETFs EIDO (EIDO +4%), IDX (IDX +4.8%), and IDXJ (IDXJ +4%) are flying after "quick-count" tallies show reform-minded Jakarta Governor Joko Widodo with a victory in the presidential election.
    • Closed for election day, Indonesian markets open next at 10:30 ET, and the Jakarta Index is already ahead nearly 20% YTD.
    • “The key economic challenge facing Jokowi will be re-igniting the economy, which has slowed markedly over the past couple of years,” says Gareth Leather, Asia Economist for Capital Economics. “There is no magic bullet to reviving growth. In the short-term, monetary and fiscal policy are likely to remain fairly tight."
    | Comment!
  • Jul. 9, 2014, 2:15 AM
    • Indonesian presidential elections are underway, with the latest polls showing a very narrow margin between candidates Joko "Jokowi" Widodo and ex-general Prabowo Subianto. The latter faces a U.S. visa ban for allegations of past human rights violations.
    • The new president will come into office facing key issues include economic growth, a crumbling currency and a need to cut government fuel subsidies.
    • The elections are a hefty undertaking, as 185M voters live across the country's 6,000 inhabited islands.
    | Comment!
  • Jun. 16, 2014, 12:51 PM
    • A new poll shows frontrunner Joko Widodo's lead narrowed to 7%, with more than 20% still undecided. Jokowi, as he is known, is the Governor of Jakarta, while his challenger Prabowo Subianto is the former head of the military's special forces.
    • Nomura believes Mr. Subianto is set to pick up more ground ahead of July 9th's election, noting the next debate subject is on internal politics and defense, areas in which he is thought to have an edge.
    • IDX -1.2%
    • Other ETFs: EIDO, IDXJ
    | Comment!
  • May. 21, 2014, 10:51 AM
    • A day after the army declared martial law and stocks fell 1.1%, Thailand's SET index gained 0.6%, with Army Chief Prayuth Chan-Ocha pledging this is not a coup, and that military control will be short. There have been about a dozen coups in Thailand since a constitutional monarchy was set up in 1932.
    • THD, TTF
    • The Philippine Stock Exchange halted a 2-day rally and fell 1.8% following the weak session the U.S.
    • ETF: EPHE.
    • Indonesia bounced 0.3% one day after a big decline brought on by a key election-season political defection.
    | Comment!
  • May. 20, 2014, 11:24 AM
    • Jusuf Kalla, the former chairman of Golkar - Indonesia's second-largest political party - has split to join the presidential ticket of front-runner Joko Widodo (known as Jokowi) as his party formed a coalition with Jokowi's fast-gaining rival.
    • Not liking the uncertainly, investors sold, sending the JSX Index lower by 2.4%.
    • As recently as last week, Golkar was rumored to be forming a coalition with Jokowi, but demanded terms for its endorsement, a condition Jokowi - known for his reform-minded clean governance as Governor of Jakarta - was not willing to satisfy.
    | Comment!
  • May. 9, 2014, 11:41 AM
    • Philippine stocks rose 1.2% to an 11-month high after S&P unexpectedly boosted the country's credit rating to BBB.
    • EPHE +0.9%
    • In Thailand, anti-government protestors hit the streets in an attempt to topple what's left of the government after the PM was forced out, but not her cabinet.
    • Foreign investors were net sellers of 1.88B baht worth of stocks, while local institutions were net buyers of 565.2B baht worth.
    • Thailand's SET Index closed 0.1% lower to 1,377.37.
    • THD -0.6%
    • Indonesian shares closed 0.8% higher to 4,898.14.
    • Indonesia ETFs: EIDO, IDX, IDXJ
    | Comment!
  • May. 6, 2014, 10:29 AM
    • Thailand's SET index lost 1.2% to 1,404.01 amid political tension, with the Constitutional Court and National Anti-Corruption Commission still expected to rule against caretaker PM Yingluck Shin and force her and her cabinet to step down.
    • Thailand ETF: THD
    • The Philippine Stock Exchange was flat at 6,765.93.
    • ETF: EPHE
    • Indonesia closed 0.2% lower to 4,834.47.
    • Indonesia ETFs: EIDO, IDX, IDXJ
    | Comment!
  • May. 5, 2014, 11:23 AM
    • Thailand's SET index gained 0.46% to 1,421.48 with an inflow of foreign money overcoming domestic political tension as the Constitutional Court and National Anti-Corruption Commission could soon rule against caretaker PM Yingluck Shin and force her and her cabinet to step down.
    • Thailand ETF: THD
    • The Philippine Stock Exchange closed 0.35% higher to 6,766.46.
    • ETF: EPHE
    • Indonesia closed 0.08% higher to 4,842 after Q1 GDP growth came in at 5.21%, shy of estimates of 5.59%.
    • Indonesia ETFs: EIDO, IDX, IDXJ
    | 1 Comment
  • May. 2, 2014, 10:34 AM
    • In Thailand, general optimism in emerging markets and foreign investor interest helped the SET Index gain 0.46% to 1,421.48. Foreign investors and local institutions were net buyers, while brokers and individual investors were net sellers. ETF: THD.
    • Philippine Stock Exchange index closed 0.52% higher to 6,742.97 on the back of 6.1% gain in Philex Mining. ETF: EPHE
    • Indonesia Index closed 0.03% lower to 4,838.76. ETFs: EIDO, IDX, IDXJ
    | Comment!
  • Apr. 30, 2014, 11:12 AM
    • In Thailand, foreign and institutional investor interest helped the SET Index gain 0.2% to 1,414.94.
    • Thailand ETFs: THD.
    • The Philippine Stock Exchange Index climbs 1.08% to 6,707.91 on the back of 2.2% gain in Philippine Long Distance Telephone and a 1.63% advance in Alliance Global.
    • ETF: EPHE
    • Indonesia's Jakarta Index closed higher by 0.4% to 4,840.15, as the rupiah continues its slide to finish down 1.7% on the month. The presidential election is set for July 9 and frontrunner Joko Widodo's party doesn't have enough parliamentary support to form a government without a coalition partner. The country awaits his selection of a running mate.
    • Indonesia ETFs: EIDO, IDX, IDXJ
    | Comment!
  • Apr. 7, 2014, 4:40 PM
    • The return of money to emerging markets in general and Brazil in particular has been well-covered. What other countries are working?
    • Indonesia: EIDO +24.3% YTD; other ETFs IDX, IDXJ.
    • Philippines: EPHE +9.7% YTD.
    • Thailand: THD +7.3% YTD.
    • Vietnam: VNM +18% YTD.
    • India: EPI +8.7% YTD; other ETFs EPI, INDY, SCIF, PIN, INP, INDL, INDA, INXX, SCIN, SMIN
    • What's not: Mexico (EWW) is off 5.5% and Chile (ECH) is down 4.1% YTD.
    | 1 Comment
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IDXJ Description
The Market Vectors® Indonesia Small-Cap ETF (IDXJ) seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the Market Vectors Indonesia Small-Cap Index, a rules-based, modified market capitalization-weighted, float adjusted index comprised of publicly traded small capitalization companies that are domiciled and primarily listed in Indonesia or that generate the majority of their revenues in Indonesia.
See more details on sponsor's website
Country: Indonesia
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