Jakarta, CNBC Indonesia – The Composite Stock Price Index (JCI) was successfully closed higher on Thursday (3/12/2020), which rose 0.15% to the level of 5,822.94. The strengthening of the JCI was supported by accumulated buying by investors in several stocks which managed to gain significantly.
Trade data noted that foreign investors made net buying of Rp 121 billion in the regular market or Rp 264 billion in all markets with a transaction value of Rp 19.6 trillion.
Even though the JCI did not shoot like the day before, there were still several stocks that shot quite high, namely dozens to tens of percent. Here are six stocks that shot high.
The highest increase was observed by PT HK Metals Utama (HKMU) which managed to jump nearly 30% or more precisely 29.76% to the price level of Rp.109 / unit.
Meanwhile, in the second position was successfully occupied by mining issuer Bakrie Group, namely PT Bumi Resources Tbk (BUMI) which managed to jump 20.34% to the level of Rp 71 / unit.
BUMI’s shares shot up again due to positive sentiment from coal commodities. The positive sentiment surrounding the coal commodity is still continuing, the price of the Newcastle thermal coal futures contract continues to strengthen.
The recovery in demand from consuming countries and news about the Covid-19 vaccine sent prices soaring.
Meanwhile, in sixth position is occupied by energy issuers, namely PT Elnusa Tbk (ELSA) which managed to jump 6.43% to Rp 364 / unit.
The main driving force for the domestic capital market certainly comes mainly from the US jumbo stimulus factor which will be discussed again and also from the news of the two corona vaccines, Pfizer, which assesses the readiness of vaccine distribution as assessed by the European Union Drug Agency which could emerge later this year. .
The global stock market, including Indonesia, likes news about vaccines the most, where when the development of vaccines is positive, market players think that life is normal after mass vaccination will get closer, so that the wheels of the economy will return to spin and will benefit the capital market so that optimism to buy shares will be stronger.
The jumbo stimulus that Mnuchin and Pelosi will discuss will also bring positive news to the stock exchanges of the countries. emerging market, especially Indonesia, which is still the prima donna for this category.
When this jumbo stimulus melts then the circulation of the US dollar will rise until its value goes down so that domestic assets will become less attractive so that global investors tend to shift their funds to countries emerging market like Indonesia, which will be ready to be flooded with foreign funds.
CNBC INDONESIA RESEARCH TEAM
(chd / chd)
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