Jakarta, CNBC Indonesia – Once again, the JCI corrected due to the recessionary sentiment. During trading on last Wednesday (04/01/2022) the Composite Stock Price Index (IHSG) fell again -1.01% to a level of 6,813.23 after transactions reached 1.19 million times and the total value of the transaction reached IDR 9.71 trillion.
The JCI movement involved 164 rising stocks, 173 stagnant stocks, and 369 issuers dominated by falling stocks.
This time foreign investors took part in the decline of the JCI, in which foreigners recorded net sales in all markets reaching Rp. 437.65 billion and above in the regular market with a net sale of Rp. 498.28 billion.
Objective net sale Foreigners are also not playing, in which foreigners have net sold large-cap stocks in various sectors including banking, telecommunications and mining. Here are the details:
- Bank Central Asia Tbk (BBCA) sold Rp 328.16 billion
- Bank Rakyat Indonesia Tbk (BBRI) sold Rp 103.25 billion
- Telkom Indonesia Tbk (TLKM) net sale Rp 71.56 billion
- Adaro Energy Indonesia Tbk (ADRO) sold IDR 25.93 billion
- United Tractors Tbk (UNTR) sold IDR 29.86 billion
The sell-off by foreigners impacted the sentiment statement, IMF Managing Director Kristalina Georgieva revealed that it was no exception for developing countries that it was possible to receive a domino effect, from the appreciation of the dollar caused by high interest rates and a slowdown in the Chinese economy, as the world’s main supply chain pushed up production and global economic inputs also weakened.
“We estimate that one third of the world economy will be in recession,” said Kristalina Georgieva.
” this is what we will see in 2023. For most of the world’s economies, it will be a difficult year, more difficult than the previous year. Why? Because the three largest economies, namely the United States (US), Europe and China are all slowing down simultaneously.” he said
Furthermore, Georgieva said that the US position this year is quite resilient and can avoid a recession. However, a relatively strong labor market in the US allows the Fed to continue to keep interest rates lower to reduce inflation.
In contrast to the United States, half of the European Union is expected to experience a recession due to the impact of the ongoing Russia-Ukraine war, he said.
In China, China’s economic pace in 2022 is likely to lag behind global economic growth for the first time in 40 years due to a spike in Covid-19 cases, according to Kristalina. The rise in cases has forced the country of the Bamboo Curtain to implement a series of restrictions that have curbed economic activity that has impacted the stagnation of manufacturing mobility in the country, with the result that manufacturing data in China continues to contract.
CNBC INDONESIA RESEARCH TEAM
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