JCI falls 1%, turns out this is the reason

Jakarta, CNBC Indonesia – The Composite Stock Price Index (<a href="https://www.world-today-news.com/jci-was-red-bbni-rose-3-days-eraa-excl-fell-4-days/" title="JCI was red, BBNI rose 3 days, ERAA, EXCL fell 4 days”>IHSG) was seen to decline again in the first trading session on Wednesday (30/10/2024), amid investor sentiment that is still waiting for performance financial release of large distributors. third quarter of 2024.

As of 11:20 WIB, the JCI had fallen 0.82% to 7,544.28. JCI was also corrected to the psychological level of 7,500 in session I today.

The index trading value in session I today reached around IDR 5.1 trillion including 9.1 billion shares that changed hands 639,150 times. A total of 178 shares advanced, 356 shares weakened, and 234 shares tended to remain flat.

All sectors were recorded to be moving in the red zone today, with the consumer staples sector being the biggest correction and weighing the most on the JCI, reaching 1.1%.

Meanwhile, in terms of shares, there are two major bank issuers namely PT Bank Mandiri (Persero) Tbk (BMRI) and PT Bank Central Asia Tbk (BBCA) as well as the telecommunications issuer PT Telkom Indonesia (Persero) Tbk (TLKM) measures the IHSG at 15 each, 6, 13.1, and 4.6 index points.

The following are the JCI weighted stocks in session I today.

JCI weakens again amid lack of improvement in global sentiment. From the United States (US), bad news is everywhere Vacancies in the US fell to their lowest level in more than 3.5 years last September, indicating that Hurricanes Helene and Milton temporarily affected labor demand.

The US Labor Department on Tuesday joined a survey from the Conference Board that showed consumer sentiment on the job market grew significantly in October, pushing consumer confidence to the highest level in nine months.

Job openings, a measure of labor demand, fell 418,000 to 7.443 million at the end of September, the lowest level since January 2021, according to the Job Openings and Labor Turnover Survey (JOLTS) report from the US Bureau of Labor Statistics.

Meanwhile, August data was revised down to 7.861 million from the previous report which said 8.040 million. Economists studied by Reuters previous estimate that the number of vacancies would reach 8.00 million. There were 1.09 jobs for every unemployed person, almost unchanged from 1.10 in August.

On the other hand, the domestic market remains wait and see waiting to release the financial performance of major issuers in the third quarter of 2024. Recently, the Himbara banking giant PT Bank Rakyat Indonesia (Persero) Tbk has released its financial performance in the third quarter of 2024.

BBRI recorded interest income of IDR 148.79 trillion, growing 12.8% annually (year after year/ yoy) in the third quarter of 2024.

Despite strong growth, interest costs are very urgent top line BRI recorded net interest growth of 4.5% yoy to IDR 105.76 trillion. Meanwhile, BRI’s interest expense grew 40.2% yoy to IDR 43.04 trillion. As a result, BRI’s profit was recorded at IDR 45.36 trillion, grew 2.59% yoy.

Apart from BBRI, PT Bank Mandiri (Persero) Tbk (BMRI) is also scheduled to release its financial performance for the third quarter of 2024 before the close of trading today.

CNBC INDONESIA RESEARCH

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