Coal Stocks Win, When Bukalapak’s Stocks Fall ARB

Jakarta, CNBC Indonesia – Two coal mining stocks, PT Indika Energy Tbk (INDY) and Astra Group issuer PT United Tractors (UNTR) managed to become a champion in today’s trading, Thursday (12/8/2021).

In different territories, shares of technology and hardware provider PT Kioson Komersial Indonesia Tbk (KIOS) and e-commerce issuer PT Bukalapak.com Tbk (BUKA) occupy the top losers list.

The Composite Stock Price Index (JCI) managed to rebound today, after 3 days of sinking in the red zone. JCI rose 0.84%, returned to the psychological level of 6,100, to 6,139,652 at the close of the second trading session on Thursday (12/8).

According to IDX data, there were 291 stocks rising, 218 stocks declining and 137 stocks stagnant, with a transaction value reaching Rp 15.75 trillion and trading volume reaching 24.03 billion shares.

Foreign investors in the stock market left Indonesia with a record foreign net selling of Rp 156.83 billion in the regular market. Meanwhile, foreigners recorded a net sale in the negotiating market and cash market of Rp 340.60 billion.

Here are 5 stocks for today’s session II top gainers and losers (12/8).

Top Gainers

1. Weha Transportation Indonesia (WEHA), shares +35.00%, to Rp 216, transaction Rp 38.6 M

2. Indika Energy (INDY), +11.40%, to Rp 1,515, transaction Rp 136.8 M

3. Bank Neo Commerce (BBYB), +9.90%, to Rp. 1,610, transaction of Rp. 504.7 M

4. Bank IBK Indonesia (AGRS), +9.80%, to Rp. 336, transaction of Rp. 64.5 M

5. United Tractors (UNTR), +8.95%, to Rp 20,700, transaction Rp 194.5 M

Top Losers

1. Indonesian Commercial Kioson (KIOS), shares -6.93%, to Rp 1,275, transaction Rp 44.2 M

2. International MNC Bank (BABP), -6.92%, to Rp 498, transaction Rp 339.5 M

3. PAM Mineral (NICL), -6.80%, to Rp 137, transaction Rp 51.3 M

4. BPD Banten (BEKS), -6.78%, to Rp 110, transaction Rp 178.1 M

5. Bukalapak.com (OPEN), -6.76%, to Rp 965, transaction Rp 2.7 T

INDY shares rose 11.40%, continuing the gains two days ago. Meanwhile, UNTR shares soared 8.95%, after last Tuesday appreciating 1.60%.

The two stocks rose along with the majority of other coal stocks, such as PT Bukit Asam Tbk (PTBA which rose 5.33% and PT Adaro Energy Tbk (ADR) which rose 5.22%, as coal prices hit a new record high again.

Coal prices rose again after experiencing a correction. Today’s price increase brought the black stone to a new record.

Yesterday, the price of coal in the ICE Newcastle market was recorded at US$ 163.8/ton. It jumped 1.38% to hit a record high since at least 2008.

In contrast, KIOS shares fell to the lower auto rejection limit (ARB) of 6.93%, as investors began to take profit after the stock accelerated two days earlier. In a week this stock is still up 16.44%.

Meanwhile, BUKA shares immediately fell to the bottom auto rejection limit (ARB) of 7% shortly after the opening bell rang in early trading this morning.

After briefly trimming the decline to Rp 970/share at 13.50 WIB, at the end of trading, BUKA’s shares fell 6.76% to Rp 965/share. The transaction value of this share was recorded at Rp 2.66 trillion, the highest on the stock exchange.

Foreign investors conducted a net sell of Rp 870.0 billion in the regular market, also the largest in the stock exchange. With this, since the beginning of the ‘gig’, foreigners have always made a net sell of a total of Rp. 1.89 trillion in the regular market and a net sell of Rp. 127.79 billion in the negotiated and cash market.

Although it has touched ARB twice (including last Tuesday), since its debut on Friday last week, BUKA’s stock has gone up 13.53%.

CNBC INDONESIA RESEARCH TEAM

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