Jakarta, CNBC Indonesia – The Composite Stock Price Index (JCI) was corrected by more than 2% in early trading. But the JCI was successful rebound and trim the weakness. Too bad it’s foreign net sell.
JCI was thrown out of the psychological level of 6,700. Even the index had tasted an intraday low of 6,620.68.
At 09.55 WIB, the JCI was observed to have weakened 0.71% and was at the level of 6,745.85. Foreigners who initially netted Rp 11 billion have now turned into a net sell of Rp 44.08 billion in the regular market.
Here are the most foreign stocks released this morning:
1. PT Bank Central Asia Tbk (BBCA) net sell Rp 40 billion
2. PT Bukit Asam Tbk (PTBA) net sell Rp 36 billion
3. PT Bank Jago Tbk (ARTO) net sell of IDR 27 billion
4. PT Elang Mahkota Teknologi (EMTK) net sell Rp 21 billion
5. PT Indotambangraya Megah Tbk (ITMG) net sell of IDR 21 billion
The movement of the domestic stock market followed the New York stock exchange that caught fire last night. The Dow Jones index fell 3.57%.
Meanwhile the S&P 500 and Nasdaq Composite indexes fell more than 4%. The Nasdaq Composite index was the worst with a 4.73% correction.
The correction in the US stock market occurred when the yield on the 10-year US Treasury fell 10 basis points to 2.88%.
A decrease in yield reflects an increase in asset prices. The rising price of US government bonds when the stock market crashed reflected investor demand for safe-haven assets.
Not long ago, Fed chairman Jerome Powell also emphasized that the US central bank will continue to raise its benchmark interest rate until there are signs of high inflation easing.
Stocks and risk assets have been pressured by inflation and the efforts of the US central bank (Federal Reserve / The Fed) to suppress inflation by aggressively raising interest rates, which increases the potential for a recession.
CNBC INDONESIA RESEARCH TEAM
Next Article
JCI Session 1 Closed Almost Flat, Session 2 Could Move Red
–
–
(trp)
–
