Jakarta, CNBC Indonesia – The Composite Stock Price Index (JCI) closed higher again on Wednesday (11/10/2021), although it was corrected in trading. intraday today.
The national benchmark stock exchange index closed up 0.2% to 6,683.146. JCI was corrected from the initial trading session I to trading session II at 14:00 WIB. However, at the last minute, JCI was finally able to reverse its direction back to the green zone.
Trade data noted that today’s transaction value decreased to Rp 11.3 trillion. A total of 229 stocks rose, 273 stocks weakened, and 170 others were stagnant. Foreign investors returned to net buying (net buy) of IDR 369 billion in the regular market.
Foreigners are listed as chasing four large market cap stocks (big cap) today, namely PT Astra International Tbk (ASII), PT Bank Mandiri Tbk (BMRI), PT Bank Central Asia Tbk (BBCA), and PT Bank Jago Tbk (ARTO).
In addition to hunting four stocks big cap, foreigners are also recorded to collect shares again e-commerce PT Bukalapak.com Tbk (BUKA) and shares of pharmaceutical issuer PT Kalbe Farma Tbk (KLBF).
The following are stocks collected by foreign investors today.
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Meanwhile, from net sales, foreigners are recorded to have released two issuer shares poultry or poultry farms, namely PT Charoen Pokphand Indonesia Tbk (CPIN) and PT Japfa Comfeed Tbk (JPFA).
In addition, foreigners also released shares of heavy mining equipment manufacturers, Astra’s subsidiaries, namely PT United Tractors Tbk (UNTR), shares of consumer issuers PT Indofood Sukses Makmur Tbk (INDF), shares of state-owned banking companies. big cap PT Bank Rakyat Indonesia Tbk (BBRI), and shares of gold mining issuer PT Merdeka Copper Gold Tbk (MDKA).
The shares released by foreign investors today are:
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The negative sentiment for the JCI came from the United States (US), which released its October wholesale price index, which rose 8.6% on an annual basis, becoming the highest record in 11 years, according to data from the US Department of Labor.
The news reversed the release of the producer price index (producer price index/PPI) which rose 0.6% on a monthly basis, or in line with economists’ expectations in a Dow Jones poll.
The market is also worried about the possibility that the consumer price index, which will be released later this evening in Indonesia, will show a significant spike.
On the other hand, the market also responded to China’s inflation data as of October 2021 which was released today, to be precise this morning. After the release of inflation data in the Bamboo Curtain country today, the risk of stagflation is getting bigger.
Stagflation is an economic phenomenon in which prices rise (high inflation), but business activity stagnates, leading to high unemployment and reduced purchasing power of consumers.
The Chinese government today reported inflation as seen from consumer price index (CPI) up 1.5% YoY (year-on-year/YoY) in October, higher than the previous month 0.7% YoY and compared to poll results Reuters against economists who predicted 1.4% YoY.
The most worrying is inflation from the producer sector (producer price index/PPI) which skyrocketed 13.5% YoY, higher than the previous month’s 10.7%. The PPI in October was the highest in more than 26 years.
When inflation in producers is high, there is a risk that CPI inflation will also spike in the next few months. This is because producers are likely to increase the selling price of their products.
“We are concerned that inflation in the producer sector will have an impact on consumer inflation,” said Zhiwei Zhang, chief economist at Pinpoint Asset Management, in a note quoted as saying. Reuters.
“The risk of stagflation continues to rise,” Zhiwei added.
CNBC INDONESIA RESEARCH TEAM
(chd / chd)
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