Units of Singapore-listed Indonesian retail REIT Lippo Malls Indonesia Retail Trust (LMIRT) (SGX:D5IU) advanced by 2.89% on 1 April after signs indicate that the IDR has strengthened the most in a week against the USD.
Data compiled by financial company Bloomberg shows that the IDR has gained 0.3 percent, the most since March 24, to close at 13,042 per USD on 1 April. This after official inflation numbers came in lower than expected, which generally bode well for retailers.
Cumulating the effect was positive manufacturing data from China which is a major market for Indonesian exporters.
China’s official purchasing managers’ index stands at 50.1 in March 2015 as compared to 49.9 in February the same year. A reading of above 50 signal manufacturing expansion.
Units of LMIRT last changed hands on the Singapore Exchange at SGD0.35.