Jakarta, CNBC Indonesia – The Composite Stock Price Index (JCI) recorded a strengthening this week although it was still overshadowed by negative signals related to the increase in the Fed’s rate which is predicted to have the potential to cause a recession. Exchange data recorded that on a weekly basis the JCI was able to rise and return to the level of 7,000 after two consecutive weeks of weakness on a weekly basis.
JCI managed to finish with a gain of 0.64% to 7,042.94 on Friday’s trade (24/6/2022). In kicks or during the trading period 20-24 June 2022 JCI moved up 1.53% on a basis point-to-point. Despite strengthening, foreign investors recorded releasing shares (net sell) which amounted to Rp 4.20 trillion for a week in all markets.
In the midst of prime JCI conditions this week, several stocks posted a sizeable correction and became the top losers this week. Lima stocks that become top losers this week, each lost more than a quarter of its market cap.
The following is a list of top stocks losers this week.
In the first position, there are shares of issuers that just went public a few weeks ago, namely Cilacap Samudera Fishing Industry (ASHA). The shares of the issuer, which is engaged in wholesale trading of fishery products and cold storage activities, plunged 29.01% to a price level of Rp. 186/unit after closing at the limit. auto rejection bottom (ARB), almost every trading day this week. Currently, its market capitalization is recorded at Rp 930 billion.
Meanwhile, the other four issuers that are included in the top losers are as follows:
Dafam Property Indonesia (DFAM) -28.97% to Rp 206/share
Eternal Peace and Prosperity (UFOE) -28.91% to the price of Rp. 1,500/share
Perfect Timeless Style (SLIS) -28.88% to Rp 266/share
Lotte Chemical Titan (FPNI) -27.64% to Rp 398/share
Meanwhile, the highest increase this week was recorded by issuers engaged in chartering vessels and barges, especially for offshore oil and gas industry activities and coal transportation services, namely Rig Tenders Indonesia (RIGS). In a week this stock rose 80.43% to a level of Rp 830/share from last week’s price of Rp 460 per share.
Even though it rose drastically, on Friday’s trading, RIGS shares closed touching the ARB limit.
Previously, earlier this week RIGS announced that the company received dividends from its subsidiary, PT Batuah Abadi Lines (BAL) worth Rp 872.12 billion.
CNBC INDONESIA RESEARCH TEAM
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