Jakarta, CNBC Indonesia – The Composite Stock Price Index (JCI) closed down 0.64% to 6,088.40 on Tuesday (10/8/21), the day before the 1 Muharram 1443 Hijri holiday which fell on Wednesday (11/8) today, was pushed back. a day from the supposed holiday last Tuesday.
IDX data noted that the JCI had fallen more than 1.2%, but in the second session yesterday afternoon, the JCI correction was cut.
The JCI correction to exit the 6,100 zone occurred after the decision to extend PPKM Level 4 in the Capital by President Joko Widodo whose announcement was made by the PPKM Coordinator Luhut Binsar Pandjaitan, despite the easing of this PPKM.
IDX data recorded that the transaction value on Tuesday was Rp 12.67 trillion, with a trading volume of 22.92 billion shares, and a frequency of 1.43 million times.
There were 308 stocks sinking, 187 stocks rising and 149 stocks stagnant. TIt was observed that foreign investors bought a net Rp 3 billion in the regular market, while in the negotiable and cash market there was a net purchase of Rp 10.50 billion.
The JCI fell 0.69% a week and the benchmark index on the IDX was still up 0.16% in the last month.
The following are stocks that weighed on the index’s pace last Tuesday.
According to Refinitiv data, among the 5 stock indexes, 3 of them collapsed to the lowest level permitted by the regulator aka ARB (auto reject below 7%), one was severely corrected, and one fell slightly.
The three index weighting stocks that fell to the ARB were PT Elang Mahkota Teknologi Tbk (EMTK) which had ARB of 6.61% and suppressed the index of 8.16 points, PT Bank Syariah Indonesia Tbk (BRIS) which fell 6.77% and weighed on the index of 6. 23 points, and PT BRI Agroniaga Tbk (AGRO) which fell 6.97% and pushed the index to 3.24 points.
While the rest, PT Barito Pacific Tbk (BRPT) fell badly by 5.91% and reduced the index to 5.48 points and PT Bank Rakyat Indonesia Tbk (BBRI), which although it was down 0.78% but suppressed the index to 3.31 points.
On the other hand, on the list top losers Last Tuesday, a number of stocks recorded a correction to the ARB
1. Bank Neo Commerce (BBYB) -6.98% of Rp 1,465
2. Bank Agroniaga (AGRO) -6.97% at Rp 2,270
3. PAM Mineral (NICL) -6.96% at Rp 147
4. Multipolar (MLPL) -6.78% at Rp 550
5. Bank Syariah Indonesia (BRIS) -6.77% at Rp 2,340
6. Bukalapak (OPEN) -6.76% at Rp 1,035
7. Duta Pertiwi Hope (HOPE) -6.74% at Rp 166
8. MNC Kapital (BCAP) -6.72% at Rp 125
9. Elang Mahkota (EMTK) – 6.61% at Rp 2,260.
The JCI correction was the worst in the midst of varied movements in the Asia Pacific stock exchange. The trigger is the extension of Level 4 Community Activity Restrictions (PPKM) until August 16, 2021, especially for the Java and Bali regions, which account for more than 60% of the national economy.
Luhut, who is also the Coordinating Minister for Maritime Affairs and Investment in a virtual press statement last night, said PPKM Level 4 was continued despite a 59.6% decline in daily cases from the peak of cases on July 21, 2021.
“This momentum must be maintained. For this reason, at the direction of the President of the Republic of Indonesia PPKM Level 4, Level 3 and Level 2 were extended until August 16, 2021,” he explained.
For areas outside Java and Bali, some areas that have implemented PPKM Level 4 will be extended until August 23.
CNBC INDONESIA RESEARCH TEAM
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