Jakarta, CNBC Indonesia – The Composite Stock Price Index (JCI) closed collapsing on Friday (11/26/2021), amid fears of the worsening of the coronavirus (Covid-19) pandemic amid the emergence of the latest variant of the Covid-19 virus that could counteract a vaccine.
The country’s benchmark stock market index closed down 2.06% to 6,561.55. At the beginning of the first trading session, the JCI correction still tended to be slight. However, an hour after opening, the JCI immediately fell until the end of today’s trading.
JCI followed the movement of Asian stock markets which were also observed to fall today, where the Hong Kong Hang Seng Index and Japan’s Nikkei were the most severely weakened today, which fell by more than 2%, even nearly 3%.
Despite the collapse, the value of today’s JCI transaction increased to Rp 16.5 trillion. As many as 476 stocks were corrected, only 99 stocks rose and 98 stocks remained stagnant.
Foreign investors recorded a net sell (net sell) of IDR 199 billion in the regular market today.
The majority of foreigners have released large banking shares today, so this has also weighed on the JCI. The major banking stocks released by foreigners are PT Bank Central Asia Tbk (BBCA), PT Bank Mandiri Tbk (BMRI), PT Bank Negara Indonesia Tbk (BBNI), and PT Bank Rakyat Indonesia Tbk (BBRI).
In addition to divesting large banking stocks, foreigners also divested stocks e-commerce PT Bukalapak.com Tbk (BUKA) and the shares of listed companies producing heavy mining equipment, the Astra Group, namely PT United Tractors Tbk (UNTR).
The following shares were released by foreign investors today.
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Meanwhile, from net purchases, foreigners are still buying up shares of telecommunication issuers with large market capitalization (big cap), namely PT Telekomunikasi Indonesia Tbk (TLKM) to reach Rp 650 billion. However, the action of foreign wholesalers in TLKM shares could not save the JCI today.
In addition to buying up TLKM shares, foreigners also collected shares of telecommunication tower PT Tower Bersama Infrastructure Tbk (TBIG), shares of digital advertising media service technology issuer PT Digital Mediatama Maxima Tbk (DMMX), shares of media issuer PT Media Nusantara Citra Tbk (MNCN), and shares media and technology issuer PT Elang Mahkota Teknologi Tbk (EMTK).
The stocks collected by foreign investors today are:
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Now, global investors, including in Asia and Indonesia, are starting to worry about the new variant of Covid-19, which is said to be more virulent than the Delta variant.
The new variant, named B.1.1.529, was detected in South Africa (South Africa). The National Institute for Infectious Diseases (NICD) said it had confirmed 22 positive cases, with more cases confirmed when test results came out as of Thursday (11/25/2021).
The World Health Organization (WHO) said it was requesting an emergency meeting to monitor the variant. This is important amid the increasing number of Covid-19 cases in Europe and the world which is entering the year-end holiday season.
The meeting will decide where the B.1.1.529 variant will be classified. Is the variant interesting or need to be considered.
On the other hand, investors also tend to withdraw funds (cash out) after the JCI rose high since October 2021. So apart from an indication of increased risk, there is also an indication of profit-taking (profit taking) by investors.
CNBC INDONESIA RESEARCH TEAM
(chd / chd)
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