Critical! Foreigners Take away Rp 2.6 T, JCI Falls 4.42%

Jakarta, CNBC Indonesia – The Composite Stock Price Index (JCI) closed with a significant collapse in the first trading after the long Eid al-Fitr holiday in 2022.

Until the close of trading Monday (9/5/2022), the JCI was observed to have fallen by 4.42% at the level of 6,909.75. JCI was forced to collapse below the psychological level of 7,000 in today’s trading.

Even now the JCI is near the psychological level of 6,900. Along with the decline in the JCI, foreign investors net sell jumbo of Rp 2.6 trillion.

The shares that were mostly released by foreigners were BBCA and BBRI shares with a net sell of Rp 1.4 trillion and Rp 688 billion, respectively.

Both stocks plunged more than 6%. BBCA shares dropped 6.46% and BBRI shares fell to 6.98%.

Then the shares that were bought the most by foreigners were ANTM and UNVR shares with a net buy of Rp 160 billion and Rp 100 billion, respectively.

Various external sentiments have decorated trading over the past week. Starting from the development of the Russo-Ukrainian war which was marked by an oil embargo by the European Union.

Then it was also continued with monetary tightening by the US central bank, The Fed and the British Bank of England (BoE) in order to tame inflation which had reached its highest level in decades.

In response to the decision, initially there was no overreaction in the market. This is because investors had previously predicted that Chairman Jerome ‘Jay’ Powell and his colleagues would raise the Federal Funds Rate by 50 bps. No surprises.

But on weekend trading, the story is different. The US stock market was on fire where the Dow Jones Industrial Average (DJIA) fell 0.3%, the S & P 500 fell 0.57%, and the Nasdaq Composite fell 1.4%. The Nasdaq closed at its lowest since 2020.

Today there are two important economic data released. The first is economic growth and the second is inflation.

In the first quarter of 2022, Indonesia’s economy grew 5.01% year on year (yoy). Indonesia’s economy continues to show improvement in line with the decline in Covid-19 cases.

Meanwhile, inflation in April 2022 recorded an increase of 0.95% compared to March 2022 and grew 3.47% year on year and became the highest level since August 2019.

[Gambas:Video CNBC]