Jakarta, CNBC Indonesia – The Composite Stock Price Index (JCI) managed to close quite brightly on Thursday (12/8/2021) trading in Jakarta amid global sentiment the release of moderate inflation data in the US and still penetrating issues tapering or a reduction in asset purchases by the U.S. central bank.
The country’s benchmark stock exchange index closed up 0.84% to 6,139.65. The JCI has again penetrated the psychological level of 6,100, after last Tuesday having exited the 6,000 zone.
Trade data recorded that today’s transaction value returned to Rp 16 trillion.
However, foreign investors returned to net selling (net sell) of Rp 144 billion in the regular market. A total of 291 stocks rose, 218 stocks weakened and 138 others flat.
From list net sell, foreign recorded still continues to take off technology stocks e-commerce, PT Bukalapak.com Tbk (OPEN). Today, foreigners released BUKA shares quite large, reaching Rp. 870 billion, higher than the amount released by foreigners on Monday (9/8/2021) which was Rp. 629 billion.
In addition, foreigners are also still selling shares of banks with the largest market capitalization above Rp 100 trillion (big cap), namely PT Bank Rakyat Indonesia Tbk (BBRI) amounting to Rp 44 billion. Foreigners also sell bank shares big cap others, namely PT Bank Mandiri Tbk (BMRI).
The following shares were released by foreign investors today.
Temporarily off the list net buy, bank shares big cap ‘jumbo’, PT Bank Central Asia Tbk (BBCA) became the most sought after by foreigners today, reaching Rp 310 billion.
In addition to chasing BBCA shares, foreigners are also recorded to be hunting for a lot of shares in PT United Tractors Tbk (UNTR) amounting to Rp 106 billion. Foreigners are also hunting for stocks big cap others, namely the shares of PT Telkom Indonesia Tbk (TLKM). The stocks that are being hunted by foreign investors today are:
National stock market participants tend to accumulate positive sentiment that was delayed after yesterday’s national holiday commemorating New Year’s Day 1 Muharram 1443 Hijriah. At that time, positive sentiment came from the United States (US), where the US Senate passed a stimulus package worth US $ 1 trillion.
Additional positive sentiment came last night after US inflation as of July rose 5.4% (yoy), or slightly above economists forecast in a Dow Jones survey of 5.3%. Monthly inflation at the level of 0.5% or according to market expectations.
This moderate inflation fueled market optimism that the US central bank (Federal Reserve/The Fed) would not rush towards monetary tightening, thus supporting the entry of foreign funds into emerging markets, such as Indonesia.
In addition, market players also need to pay close attention to movements in world crude oil prices which weakened again in yesterday’s trade, after the White House called on the Organization of the Petroleum Exporting Countries (OPEC) and its allies to increase production to support the world’s economic recovery.
The administration of US President Joe Biden said OPEC+’s decision to gradually increase production was not effective enough to bounce back from a critical moment of global recovery.
OPEC+ is the 13 member countries of OPEC plus Russia and other oil producers besides OPEC.
“We spoke with influential OPEC+ members about the importance of competitive markets in setting prices,” National Security Adviser Jake Sullivan said in a statement. CNBC International, Wednesday (11/8/2021).
“A competitive energy market will ensure a stable and reliable supply of energy, OPEC must do more to support the economic recovery” [global],” he added.
CNBC INDONESIA RESEARCH TEAM
(chd / chd)
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