Jakarta, CNBC Indonesia – Opened in the red zone, the Composite Stock Price Index (JCI) ended corrected at the close of the first trading session Wednesday (31/3/2021), amidst three simultaneous attacks of negative sentiments.
JCI opened down 0.41% to the level of 6,062.95 and continued until the close of the first session with a correction of 1.78% (107.979 points) to 5,963.463. According to RTI data, only 108 stocks rose, while 368 were under pressure and 145 were flat.
Exchange transactions receded somewhat with 7.6 billion shares traded, as many as 606,000 times. The exchange transaction value is relatively thin, namely Rp. 5.3 trillion, or far from the transaction value in the early January period which touched Rp. 12 trillion (in session 1 only).
Foreign investors scored net sales (net sell) IDR 386.5 billion in the regular market. The shares being sold were PT Bank Central Asia Tbk (BBCA) with a transaction value of Rp. 449.6 billion and PT Bank Rakyat Indonesia Tbk (BBRI) which scored a transaction value of Rp. 457.5 billion.
The two bank shares fell by 2.6% to Rp 31,150 and Rp 4,380 per share, respectively. Both become the top dfrom the value side of the transaction, followed by shares PT Aneka Tambang Tbk (ANTM) amounting to IDR 327.7 billion.
The correction in the national stock exchange occurred following a combination of three negative sentiments from within and outside the country that attacked the stock exchange simultaneously. Negative sentiment from within the country emerged from the discourse to reduce investment in stocks and mutual funds BPJS Ketenagakerjaan (BP Jamsostek).
Meanwhile, the risk of capital flight (capital outflow) increasingly imagine selling pressure in line with the increase in yields (yield) United States (US) government bonds with a 10-year tenor rose to the highest position for 14 months, namely at the level of 1.7%.
The high yields on benchmark bonds in the US could trigger a withdrawal of funds from the national debt securities market, triggering a weakening of the rupiah. In turn, exchange rate pressures cause foreign investment assets on the stock market to depreciate in value when converted into US dollars.
Simultaneously, prices for major national commodities are falling on global markets, such as crude palm oil (crude palm oil/CPO) which fell 4.7% (to RM 3,574/ton). Nickel fell 1.9% (to US $ 15,897.5/ton), tin weakened 0.1% (to US $ 25,282.5/ton), and gold dropped 1.7% (to US $ 1,684.2/troy ounce).
The only increase occurred in the coal price of 0.9% (to US $ 93.85 / ton).
CNBC INDONESIA RESEARCH TEAM
(ags/ags)
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