Jakarta, CNBC Indonesia –The Composite Stock Price Index (IHSG) was severely corrected on the last trading day of March, Wednesday (31/3/2021), amid the onslaught of negative sentiment from within and outside the country. JCI ended badly corrected 1.42% to 5,985.52, thrown from the psychological level of 6,000 after collapsing 2.94% at the level of 5,892.64.
Stock exchange transaction value is considered thin, amounting to IDR 12 trillion, while foreign investors scored net sales (net sell) IDR 1.03 trillion in the regular market.
The shares being sold were PT Bank Central Asia Tbk (BBCA) amounting to Rp 450 billion and PT Bank Rakyat Indonesia Tbk (BBRI) amounting to Rp 461 billion.
Meanwhile, foreign purchases were made in the shares of PT Tower Bersama Infrastructure Tbk (TBIG), which was purchased for IDR 22 billion and PT Telkom Indonesia Tbk (TLKM), which had a collection of IDR 18 billion.
The correction on the national stock exchange occurred following a combination of negative sentiment from within and outside the country that attacked the stock exchange simultaneously. Negative sentiment from within the country emerged from the discourse to reduce investment in stocks and mutual funds BPJS Ketenagakerjaan (BP Jamsostek).
It is known that BPJS is one of the giant institutional investors so that if the investment portion is dwarfed, there is a potential for a sizable outflow of money from the capital market.
President Director of BPJS Ketenagakerjaan Anggoro Eko Cahyo revealed the investment reduction plan at a joint hearing with the BPJS Employment Supervisory Board and Commission IX of the DPR. This step is carried out in the context of Asset Matching Liabilities (ALMA) Old Age Security (JHT). There are three strategies presented by BP Jamsostek.
“First, the investment strategy is to make changes from stocks and mutual funds to bonds and direct investment so that the weight of stock and mutual fund instruments is getting smaller,” said Anggoro, Tuesday (30/3/2021).
Meanwhile, the risk of capital flight (capital outflow) increasingly imagine selling pressure in line with the increase in yields (yield) United States (US) government bonds with a 10-year tenor rose to the highest position for 14 months, namely at the level of 1.7%.
CNBC INDONESIA RESEARCH TEAM
(trp/trp)
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