Jakarta, CNBC Indonesia – Since the second week of August 2022, the flow of foreign funds has continued to flood the country’s stock market. Data shows that in the past month, net purchases from abroad were worth Rp 11.18 trillion in the regular market. Meanwhile, in the past week, net purchases from abroad amounted to Rp 3.5 trillion. in the regular market.
Meanwhile, at the same time, foreign ownership in State Securities (SBN) actually fell by Rp 14 trillion. This indicates that there is outflows in the SBN market.
Existence influx to the equity market and the SBN outflow reflects that investor appetite is currently higher for risky assets, especially in developing countries such as Indonesia.
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In the midst of rising global and domestic inflation problems, as well as tightening monetary policies adopted by global central banks, SBN yields have tended to weaken.
The yield is inversely proportional to the price. When yields rise, SBN’s price is weakening.
One of the things that encourages foreign investors to continue buying domestic stocks, one of which is the increase in the net profit of issuers.
The following is the trend of the net profit of the companies whose shares are part of LQ45:
|
Sector |
Laba 1H22 |
Two 1H21 |
YoY |
|
Oil and gas (MEDC) |
3.904 |
665 |
487% |
|
Coal |
35,775 |
6,210 |
476% |
|
Extraction |
15,139 |
6,787 |
123% |
|
Conglomerate (ASII) |
18.174 |
8,831 |
106% |
|
financial |
74,837 |
46,377 |
61% |
|
Pulp and paper (INKP) |
5,850 |
4,045 |
45% |
|
Retail |
1,762 |
1.412 |
25% |
|
Telco |
15,616 |
14,857 |
5% |
|
Health care |
2,167 |
2,113 |
3% |
|
Medium (MNCN) |
1,203 |
1.193 |
1% |
|
Consumers |
8,261 |
9,700 |
-15% |
|
Concrete |
1.120 |
1.381 |
-19% |
|
Poultry |
3,529 |
4,376 |
-19% |
|
Cigarette |
3,048 |
4,134 |
-26% |
|
Tech |
– 2,350 |
– 6,783 |
-65% |
|
Construction (LANGUAGE) |
– 13 |
83 |
-116% |
At the end of last week, there were 39 companies associated with the LQ45 index that had published their financial reports.
Meanwhile, 6 companies that have not released their performance reports include PT Bank Tabungan Negara (Persero) Tbk (BBTN), PT Barito Pacific Tbk (BRPT), PT Merdeka Copper Gold Tbk (MDKA), PT Perusahaan Gas Negara Tbk ( PGAS), PT Tower Bersama Infrastructure Tbk (TBIG) and PT Chandra Asri Petrochemical Tbk (TPIA).
Cumulatively (aggregate) the total net profit of the 39 LQ45 companies reached Rp 188 trillion, an increase of 78.4% yoy (yoy) in the first half of 2022.
If we exclude the net profit of tech companies such as PT GoTo Gojek Tokopedia Tbk (GOTO) and PT Bukalapak.com Tbk (BUKA), total net profit will reach Rp 193 trillion, growing 71.7% year-over-year. .
By sector, the performance of issuers operating in the raw materials sector recorded a significant increase. For example, in the shares of the coal sector issuer, the total net profit reached Rp 35.8 trillion, up 476% year on year for issuers who entered the LQ45 constituency.
As for the mining and heavy equipment issuers, namely TINS, INCO and UNTR, total net profit reached Rp 15.1 trillion, up 123% yoy for issuers who entered the district LQ45.
For the oil and gas sector represented by Medco, its net profit jumped 487% yoy to Rp 3.9 trillion in the half year I-2022.
On the other hand, the net profit of the financial sector, dominated by large banks, also recorded significant growth of 61% year on year with a total of Rp 74.8 trillion in the first half of 2022.
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