Jakarta, CNBC Indonesia – IThe Composite Stock Price Index (JCI) continued its strengthening trend this week. Simultaneously, the latest high record was created.
According to the Indonesia Stock Exchange (IDX), the JCI closed at 7,210.84 on Friday (8/4/2022). Soared 1.17% compared to the previous day as well as being the highest record in the history of the Indonesian capital market.
During the week, the JCI posted an increase of 1.87% point-to-point. Thus, the JCI even posted a strengthening for four weeks in a row.
At the Asian level, the JCI’s performance is also standout. JCI was able to strengthen when other Asian stock indexes were sluggish.
This week, the Shanghai Composite (China) index fell 0.94%. Meanwhile SETI (Thailand) fell by 1.69%, Straits Times (Singapore) minus 1.05%, Hang Seng (Hong Kong) fell 0.76%, and PSEI (Philippines) fell 1.89%.
Market Sentiment Next Week
For next week, in addition to the development of the conflict between Russia and Ukraine, investors will be watching the release of economic data in a number of countries, both domestic and abroad.
Domestically, on Monday (11/4), Bank Indonesia (BI) will release a retail sales survey report.
Previously, The BI survey showed retail sales performance was on hold in February 2022. The Real Sales Index (IPR) for the February period was at 202.8. IPR is still up 15.2% compared to February last year (year-on-year/yoy). However, this figure is lower than that recorded in January 2022 (209.6).
Then, on the same day, Indonesian ride-hailing and e-commerce giant PT GoTo Gojek Tokopedia Tbk (GoTo) will list its shares on the Indonesia Stock Exchange (IDX).
The floor of the company, which will wear the ticker GOTO, is the most anticipated IPO for Indonesian stock investors at the beginning of the second quarter of this year.
GOTO’s shares will be listed on the main board of the IDX and GoTo will be the 15th issuer listed on the IDX this year. The share offering price is IDR 338 per share.
Meanwhile, the total number of shares listed was 1,184,363,929,502 shares. In the future, GOTO’s market capitalization is expected to reach IDR 400.3 trillion, entering the elite ranks of the top 4 big caps on the stock exchange.
Investors’ attention to the Initial Public Offering (IPO) of PT GoTo Gojek Tokopedia Tbk (GoTo) is quite high.
President Director of Indo Premier Sekuritas Moelonoto said the market’s high interest made GoTo’s stock orders to be oversubscribed by more than 15 times.
“This is a historic moment, as well as being a positive catalyst for the JCI movement, which has scored all-time highs several times,” he was quoted as saying, Sunday (10/4/2022).
Then, on Thursday (14/4), BI will again release a number of important data, such as the Foreign Debt Statistics as of February 2022, the Business Activity Survey Report for the First Quarter of 2022, and the Prompt Manufacturing Index for the First Quarter of 2022.
External Data
Meanwhile, from abroad, on Monday (11/4), market players will also pay attention to data on China’s inflation rate as of March 2022, which is predicted to be 1.2% yearly (yoy), after remaining unchanged in the previous two months.
On Tuesday night, Indonesian time (12/4), investors will also pay attention to one of the data that is continuously being ‘watched’, namely inflation in the United States (US).
The annual rate of US inflation is expected to rise again towards a new record high to 8.5%, from the previous 7.9%.
It is feared that the inflation rate that continues to rise will make the actions of the US Federal Reserve/The Fed increasingly ‘fierce’ and could affect the world stock market.
According to Deutsche Bank economists, the Fed’s aggressive stance in raising interest rates to curb inflation could bring a recession to Uncle Sam’s country.
The Fed is expected to still raise interest rates by half a percentage point over the next 3 meetings.
The Fed’s actions “are likely to trigger a mild recession around late 2023,” the Deutsche Bank economist noted.
“While this will ultimately help push inflation closer to its target by late 2024, it will also result in a sharp rise in the unemployment rate,” the economist continued.
Deutsche itself was one of the first major banks to sound the recession alarm.
In addition, investors will also pay attention to other data, such as the Australian consumer confidence index, China’s trade balance as of March 2022, the United Kingdom’s inflation rate as of March (Wednesday, 13/4).
Then, about the decision of the European Union central bank interest rate, US retail sales and US consumer sentiment version of the University of Michigan (Thursday, 14/4).
CNBC INDONESIA RESEARCH TEAM
(adf/adf)
–
