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Wake up from ‘Sleep’ SULI Stocks Immediately Win, BABP Sengsara

Jakarta, CNBC Indonesia – Shares of issuers engaged in the timber industry PT SLJ Global Tbk (SULI) and coal issuer PT Harum Energy Tbk (HRUM) were the top gainers in Friday’s trading (24/9/2021).

In contrast, the banking shares of the MNC Group PT Bank MNC International Tbk (BABP) together with Manufacturing issuers engaged in the iron and steel industry PT HK Metals Utama Tbk (HKMU) must be willing to share their place on the list of top losers.

The Composite Stock Price Index (JCI) performed heroically today, successfully returning at the last minute to the green zone after sinking to 6,119.14. JCI finally edged up 0.03% to 6,144,815 at the close of the second trading session on Friday (24/9).

According to IDX data, there were 186 stocks rising, 332 stocks declining and 149 stocks stagnant, with a transaction value reaching Rp 13.92 trillion and trading volume reaching 22.79 billion shares.

Foreign investors from the stock market entered Indonesia with a record foreign net purchase of Rp 1.70 trillion in the regular market. Meanwhile, foreigners recorded a net sale in the negotiating market and cash market of Rp 103.48 billion.

Here are 5 stocks for today’s session II top gainers and losers (24/9).

Top Gainers

  1. SLJ Global (SULI), shares +34.00%, to Rp 67, transaction Rp 14.4 M

  2. Guna Timur Raya (TRUK), +23.49%, to Rp 184, transaction Rp 67.4 M

  3. Cahayasakti Investindo Sukses (CSIS), +21.59%, to Rp 107, transaction Rp 73.0 M

  4. Harum Energy (HRUM), +18.53%, to Rp 7,675, transaction Rp 360.3 M

  5. City One Property (ONE), +11.94%, to Rp 75, transaction Rp 23.0 M

Top Losers

  1. Eternal Mighty Mainstay (NASA), shares -6.98%, to Rp 80, transaction Rp 10.1 M

  2. International MNC Bank (BABP), -6.67%, to Rp 280, transaction Rp 182.4 M

  3. Indonesia Resources (OKAS) again, -6.38%, to Rp 88, transaction Rp 13.2 M

  4. HK Metals Utama (HKMU), -6.35%, to Rp 59, transaction Rp 39.7 M

  5. Tirta Mahakam Resources (TIRT), -5.97%, to Rp 63, transaction Rp 9.7 M

SULI shares led the gains by rising 34.00% to Rp 67/share. The stock suddenly bounced today after stagnating at the level gocap or Rp 50/share more than a year ago or since March 3, 2020. Actually, the issuer’s shares which have been listed on the stock exchange since 1994 have tended to be in the range of Rp 50/share since early August 2019.

HRUM shares also jumped 18.53% to Rp 7,675/share, continuing the increase in the previous 2 trading days. In a week, HRUM’s stock rose 42.13%, while in a month it soared 59.90%.

This increase coincided with other coal stocks in the midst of coal prices touching new record highs and trying to touch the point of US$ 190/ton.

Yesterday, the price of coal in the ICE Newcastle (Australia) market was recorded at US$ 189.3/ton. Soared 3.58% compared to the previous day’s closing position as well as being the highest record since at least 2008.

In contrast to fate, BABP’s shares fell to the lower auto rejection limit (ARB) of 6.67% to Rp 280/share. With this, BABP shares have been red for 6 days in a row.

As a result, in a week BABP shares fell 14.63%, while in a month it fell 29.41%.

Together with BABP shares, HKMU shares fell 6.35% to Rp 59/share, continuing their decline since 2 days ago. With this, in a week HKMU shares fell 13.24%.

The latest news, HKMU announced plans to increase capital through the issuance of new shares with Pre-emptive Rights (HMETD) or rights issue.

This limited public offering (PUT) is still awaiting shareholder approval at the Extraordinary GMS which will be held on October 7, 2021.

Quoted from the prospectus published on the Indonesia Stock Exchange (IDX) public disclosure page, in this PUT, the company offered a total of 5.15 billion new company shares with a nominal value of Rp 100 per share.

Previously, actor Ricky Harun was recently appointed as one of the commissioners of HK Metals Utama, this information was conveyed in the company’s public expose on August 15, 2021.

The son of actress Donna Harun was appointed as an Independent Commissioner of HKMU through the Annual General Meeting of Shareholders (AGMS) and the EGMS held on August 16, 2021.

CNBC INDONESIA RESEARCH TEAM

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