Jakarta, CNBC Indonesia-The Composite Stock Price Index (IHSG) managed to reverse course in the second trading session after being closed down corrected in the first session. JCI closed the day with an appreciation of 0.09% to the level of 6150.29 on Tuesday (31/8/21).
Today’s transaction value is Rp 12.8 trillion and foreign investors have seen a net sale of Rp 633 billion in the regular market.
Foreigners bought shares in PT Bank Central Asia Tbk (BBCA) amounting to Rp 155 billion and PT Bank Central Asia Tbk (BBCA) Rp 144 billion.
Meanwhile, foreign net sales were carried out in shares of PT Indofood Sukses Makmur Tbk (INDF) which were sold for Rp 47 billion and PT Surya Citra Media Tbk (SCMA) which were sold for Rp 23 billion.
Negative sentiment emerged from China which reported a slowdown in its manufacturing pace as of August. Purchasing Manager Index (Purchasing Managers’ Index/PMI) manufacturing was at 50.1 or slower from July’s position of 50.4. A reading above 50 in the PMI index indicates expansion, while below it indicates contraction.
This means that there is a risk that China’s manufacturing sector will contract again, and this could have an impact on the global economy. Understandably, China is a country with the second largest economy in the world.
The day before, on Monday, China also gave bad news in which the government plans to restrict their technology companies from listing their shares on US exchanges, as reported inWall Street Journal.
Recently, the Chinese government also plans to limit the activities of teenagers under the age of 18 playing video games to only 3 hours a week. The rules put pressure on technology and gaming stocks, such as Tencent which fell more than 3%.
CNBC INDONESIA RESEARCH TEAM
(trp/trp)
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