Jakarta, CNBC Indonesia – The Composite Stock Price Index (JCI) ended higher in the first trading session on Tuesday (1/3/2022), following a meeting between the Ukrainian and Russian delegations that sparked expectations of an easing of conflicts in the region.
According to data from the Indonesia Stock Exchange, the JCI opened 1.5% jump to 6,964,697, before closing at 6,953,177 or jumping 65 points (+0.94%). A total of 317 stocks rose, another 211 fell, and the remaining 142 were flat.
The trading value touched Rp. 12 trillion, involving 15 billion shares that changed hands 1 million times. Foreign investors still print net purchases (net buy), worth Rp 942.76 billion.
The stocks they are after are mainly PT Bank Rakyat Indonesia Tbk (BBRI) and PT Telkom Indonesia Tbk (TLKM) with a net purchase value of Rp 424.8 billion and Rp 117.1 billion, respectively. Both rose by 3.74% to IDR 4,720 and 1.15% to IDR 4,390/share respectively.
On the other hand, the shares that are still being sold are mainly PT Bumi Resources Tbk (BUMI) and PT Bank Mandiri Tbk (BMRI) with net sales of Rp 71.1 billion and Rp 40.7 billion, respectively. The two moved in different directions where BUMI dropped 5.56% to Rp 51/share while BMRI was flat at Rp 7,700/unit.
BBRI recorded the largest transaction value of Rp 1.6 trillion, followed by PT Bank Central Asia Tbk (BBCA) of Rp 691 billion. PT Adaro Energy Tbk (ADRO) followed with a total trade value of Rp 686.1 billion.
Positive sentiment came from abroad where the Ukrainian and Russian delegations had agreed to meet to negotiate in Belarus, in order to find common ground to end the current armed conflict.
Domestically, the first week of March will be marked by various releases of economic data ranging from manufacturing PMI, inflation to data on foreign tourists. Indonesia’s manufacturing PMI figures as of February were released on March 1, 2022. Indonesia’s February manufacturing PMI was recorded at 51.2, lower than the previous month, or down 2.5 points.
Despite the decline, Indonesia’s manufacturing activity is expected to remain expansive because it is above the 50 threshold. A slowdown if it occurs may be due to the increase in cases of Covid-19 virus infection that has occurred since early 2022.
Next is the inflation release which is also eagerly awaited. The Central Statistics Agency (BPS) reported a deflation of 0.02% last month compared to January 2022 (monthly). On an annual basis, there was an inflation of 2.06%. Calendar year inflation (year-to-date/ytd) recorded 0.54%.
The first deflation since September 2021 was driven by a decline in volatile prices for cooking oil, chicken eggs, broiled chicken and cayenne pepper.
CNBC INDONESIA RESEARCH TEAM
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