Jakarta, CNBC Indonesia – Large bank stocks fell into the red zone at the beginning of today’s trading, Friday (11/26/2021), amid the Jakarta Composite Index (JCI) also corrected this morning.
According to data from the Indonesia Stock Exchange (IDX), at 09.28 WIB, the JCI fell 0.20% to 6,685.68, after rising in the last 2 days. The transaction value was recorded at Rp 2.69 trillion with a trading volume of 6.35 billion shares.
A total of 163 stocks rose, 273 stocks fell, and 192 stocks were stagnant. Despite the sluggish JCI, foreign investors made a net purchase of Rp 32.53 billion in the regular market and a net purchase of Rp 386.31 million in the negotiating market and cash market.
Of the 11 sectoral indices, there were only 3 indices that strengthened, namely the transportation & logistics index (IDXTRANS) which rose 0.45%, the health sector index (IDXHEALTH) which rose 0.38%, and the technology sector index (IDXTECHNO) which appreciated 0. .13%.
Meanwhile, the financial sector index (IDXFINANCE), fell 0.3%.
The following are major bank stocks that weakened this morning.
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Bank Negara Indonesia (BBNI), shares -1.74%, to Rp 7,050/share
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Bank Mandiri (BMRI), -1.70%, to Rp 7,225/share
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Bank Danamon Indonesia (BDMN), -0.80%, to Rp 2,490/share
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Bank Rakyat Indonesia (BBRI), -0.47%, to Rp 4,200/share
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Bank Central Asia (BBCA), -0.34%, to Rp 7,400/share
According to the data above, the shares of state-owned bank BBNI fell 1.74% to Rp 7,050/share, after strengthening in the last 2 days. Foreign investors recorded a net sale of BBNI’s shares of Rp 12.81 billion in the regular market.
The latest news, BBNI provides loan facilities to a consumer issuer owned by entrepreneur Sudhamek, PT Garudafood Putra Putri Tbk (GOOD), worth Rp 1 trillion. As reported by CNBC Indonesia, Thursday (25/11), the loan was used to refinancing part of the existing Garudafood syndicated loans.With this, in a week BBNI shares are still up 0.36%, while in a month they are up 0.71%.
In addition to BBNI’s shares, other state-owned banks, BMRI and BBRI’s shares are also in the red zone. BMRI shares slumped 1.70%, amid a net foreign buying of Rp 3.49 billion.
Meanwhile, BBRI shares depreciated 0.47%, as foreigners made a net sale of Rp 28.6 billion, which was the second largest on the stock exchange this morning.
Specifically for Bank Mandiri, the company recorded the distribution of People’s Business Credit (KUR) until October 2021 worth Rp 31.75 trillion to more than 324 thousand debtors.
Previously, Thursday (25/11), according to Bank Mandiri SEVP Micro & Consumer Finance Josephus K. Triprakoso, this realization has reached 90.73% of the company’s total KUR distribution target in 2021 of IDR 35 trillion.
Shares of private bank Djarum BBCA Group were also under pressure from selling to drop 0.34% this morning. Foreigners recorded a net sale of Rp 37.5 billion, the largest on the stock exchange.
The lack of positive sentiment in the global market makes the JCI prone to correction today. Positive sentiment tends to be minimal because the United States (US) stock market did not open on Thursday (11/25/2021) yesterday due to the Thanksgiving holiday.
Although global market sentiment tends to be quiet, there is good news coming from the European continent, where European stock indexes closed higher on Thursday trading local time.
The European Stoxx 600 closed up 0.44%. The majority of the Blue Continent stock exchanges also successfully ended trading in the green zone yesterday.
The three main European stock indexes, namely the FTSE, CAC and DAX, were also green with appreciation of 0.33%, 0.48% and 0.25%, respectively. Although the daily Covid-19 infection rate in Europe is still increasing, the stock market closed cheerfully.
One of the positive catalysts is European regulators who give the green light for Covid-19 vaccination for those in the very young age group in the range of 5-11 years.
Negative sentiment also came from around the corona virus (Covid-19), where a new variant of Covid-19 reappeared with many spike mutations, B.1.1.529. This variant of Covid-19 is said to have been detected in South Africa.
In the description of African scientists, variant B.1.1529 contains several mutations associated with increased antibody resistance. This scientists believe could reduce the effectiveness of the vaccine, along with mutations that generally make it more infectious.
CNBC INDONESIA RESEARCH TEAM
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