Jakarta, CNBC Indonesia -Many foreign investors do net buy actions on a number of stocks blue chip or featured at the time Composite Stock Price Index (JCI) fell to 1.27% in trading yesterday (19/5/2021).
Some of the leading stocks that investors are looking for include PT Astra International Tbk (ASII), PT Tower Bersama Infrastructure Tbk (TBIG), to PT Indofood Sukses Makmur Tbk (INDF). Meanwhile, the remaining shares are from the second tier stock category with a market capitalization of less than Rp 50 trillion.
Trading data from the Indonesia Stock Exchange (IDX) shows that the JCI closed at 5,760 levels, down 1.27% from the previous day’s trading. The transaction value was recorded at Rp. 10 trillion with a trading volume of 17.10 billion shares, with a trading frequency of 1.04 million times.
There were 332 stocks collapsed, 157 shares rose, and the remaining 143 shares stagnated. Foreign investors did net selling on the regular market yesterday, reaching Rp 273 billion.
However, in the midst of the collapse of the Indonesian stock market, a number of stocks are still being hunted by investors, even though their share prices have been under pressure.
10 Top Net Foreign Buy (May 19), Regulator
1. Chandra Asri (TPIA), net buy Rp 35 billion, shares -6.58% Rp 7,450
2. Tower Bersama (TBIG), Rp 19 billion, shares -2.82% Rp 2,410
3. Astra International (ASII), IDR 19 billion, shares -1.94% IDR 5.050
4. Kalbe Farma (KLBF), IDR 17 Billion, -0.34% shares IDR 1,445
5. Indofood Sukses (INDF), IDR 14 billion, IDR 6,375 flat shares
6. United Tractors (UNTR), IDR 10 Billion, -0.11% shares IDR 21,875
7. Medikaloka Hermina (HEAL), IDR 9 Billion, + 3.87% shares IDR 4,830
8. Unilever (UNVR), IDR 6 billion, shares -2.24% IDR 5,450
9. Sarana Menara (TOWR), IDR 5 billion, IDR 1,175 flat shares
10. Link Net (LINK), Rp 1 M, saham flat Rp 4.000
Of the 10 stocks above, only three stocks have market capitalization above IDR 100 trillion alias big cap. They are Chandra Asri (Rp. 133 trillion), Astra (Rp. 204 trillion), and Unilever (Rp. 208 trillion).
With this correction, the JCI has actually fallen 2.83% and a decline of 5.35% in the last month. In response to the collapse of the Indonesian stock market and the low daily transactions, Head of Research of PT Panin Sekuritas Tbk (PANS), Nico Laurens explained, the decline in stock transaction value on the domestic stock market was caused by global investors who prefer to place assets on more defensive stock exchanges such as Europe and America. Union.
This is in line with the progress of mass vaccination which is faster than in Indonesia. This condition triggers business confidence as well consumer confident happening more rapidly in developed countries.
As a comparison, in the US, the number of people who are vaccinated has reached 30% to 40% of the total population, while Indonesia is still under 10% of the population.
“Investors are concerned that the condition is a bit more risk off now. In terms of asset allocation, more assets are allocated in defensive capital markets in Europe and the US,” said Nico, in an interview with CNBC Indonesia on the InvesTime program.
(bag bag)
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