Jakarta, CNBC Indonesia – The Composite Stock Price Index (JCI) fell again on Tuesday’s trading (10/5/2022). The sharp correction in big cap stocks triggered the JCI’s collapse.
After 40 minutes of trading, the JCI fell 3.08% to 6,696. In just two days, the performance of the JCI, which had been flashy since the beginning of the year, was almost completely eroded.
The increase in the JCI since the beginning of the year was only around 1.98%. In fact, during the period from the beginning of the year to the end of last month, the index accumulated an increase of 9.84%.
This morning, many big cap stocks experienced sharp declines, which helped to lift the index’s performance down.
Shares of PT Bank Central Asia Tbk (BBCA) as the stock with the largest market cap, fell 1.64% at Rp 7,475/unit.
Then there are also shares of PT Bank Rakyat Indonesia Tbk (BBRI) with a correction of 2.65% and are at the level of Rp 4,410/unit.
Not to forget the stock of other big banks that also weighed on the JCI, namely PT Bank Mandiri (Persero) Tbk (BMRI) which fell by 4.2% at the level of Rp. 7,975/unit.
Shares of PT Telekom Indonesia (Persero) Tbk (TLKM) also dropped 3.02% and stood at Rp 4,180/unit. Shares of the conglomerate PT Astra International Tbk (ASII) were also observed to have corrected up to 4.96% at the level of Rp 6,700/unit.
Then there were the shares of PT Elang Mahkota Teknologi Tbk (EMTK) and PT Bank Negara Indonesia Tbk (BBNI), which fell 6.81% and 1.98%, respectively.
Those are some of the stocks weighing JCI in this morning’s trading. It should be noted that yesterday the JCI fell 4.4% and became its worst performance so far this year.
From the external side, positive catalysts are also minimal. In fact, there are more risks. Asian stock markets moved mixed this morning. But the majority were corrected.
The JCI corrected the most in Asia, followed by Hong Kong’s Hang Seng, which fell 2.66%. Meanwhile on Wall Street, there is still strong correction pressure.
Early this morning the Dow Jones index closed down 1.99%. Meanwhile, the S&P 500 and Nasdaq Composite indexes fell 3.20% and 4.29%, respectively.
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