Branded ‘Old Economy’, 5 Bluechip Shares Amble Nearly 50%

Jakarta, CNBC Indonesia – Domestic investors can be proud, because since the beginning of the year The Composite Stock Price Index (JCI) still recorded an appreciation of 0.79%. One of the triggers for the downfall of the bluechip is the trend of investors choosing stocks that are predicted to be the new economy, and leaving the old economy.

However, you may find it strange because portfolio share bluechip you feel it does not increase or even decrease not in line with the movement of the JCI.

Apparently this happened because the increase in the JCI since the beginning of the year was not supported by high-end stocks. Even stocks bluechip tend to be severely corrected and become a weighting JCI.

This can be seen from the LQ45 reference index which contains stocks with high liquidity and good business prospects where the majority of the constituents are stocks. bluechip. Since the beginning of the year, the LQ45 index has corrected 10.65%.

The following are the LQ45 index stocks whose shares have been corrected massively since the beginning of the year.

The most severe depreciation of LQ45 issuers was recorded by 2 construction issuers, 2 consumer goods issuers, and 1 infrastructure issuer.

In the first and second positions came the names of construction companies PT Wijaya Karya Tbk (WIKA) and PT PP Tbk (PTPP), which collapsed 46.35% and 45.31% since the beginning of the year.

The collapse of construction stocks after budget for infrastructure was diverted to cope with the Covid-19 virus so that the construction company’s profits fell badly because of the cost of fund high in the capital-intensive construction industry.

Last year’s construction projects also stalled due to the implementation lockdown which causes construction issuers to record poor annual financial reports.

Furthermore, a massive correction was also recorded by PT Unilever Indonesia Tbk (UNVR) which has collapsed badly this year 44.22% and another consumer issuer engaged in the cigarette sector, namely PT HM Sampoerna Tbk (HMSP). Three-quarters of the same amount as UNVR, which fell due to the decline in people’s purchasing power, which had an impact on consumer stocks, HMSP has also corrected 32.89%.

In addition to the collapse of people’s purchasing power, 2021, which is predicted to be a year of economic revival, is not a friendly year for the consumer goods sector aka consumer goods. The reason is that the nature of this sector tends to be defensive where when the economy starts to recover, it will not affect this sector much compared to other sectors.

Finally, the issuer PT Perusahaan Gas Negara Tbk (PGAS) has also become a stockholder for LQ45 patients after falling 36.56% since the beginning of the year. It was recorded that in 2020 PGAS was forced to record a loss of IDR 3.8 trillion due to the Covid-19 pandemic, although in Q1-2021 it had started to improve by posting a profit of IDR 870 billion.

CNBC INDONESIA RESEARCH TEAM

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