Jakarta, CNBC Indonesia – Combined Stock Price Index (IHSG) on trades Thursday (24/9/20) at 9:52 WIB observed drop 1,33% ke level 4.852,16. Negative sentiment from Uncle Sam and Benua Biru plummeted JCI.
However, what stocks contributed to the drop in the national reference index? Consider the following table.
It can be seen from the table above that today’s decline was contributed the most severely by PT Telekomunikasi Indonesia Tbk (TLKM) Red Plate, whose shares fell 2.14% and pushed the index by 7.97 points.
In addition, there are also two giant banking stocks on this list, namely PT Bank Central Asia Tbk (BBCA) which slightly corrected 0.36% but pushed the index back by 3.24% due to its jumbo market capitalization and PT Bank Mandiri Tbk (BMRI) which hit 2.4% and sent the index down 3.79 points.
In addition, there is also a pharmaceutical issuer, PT Kalbe Farma Tbk (KLBF), which contracted 1.96% due to negative sentiment for the AstraZeneca vaccine, whose continuation of the third phase of the trial is still in question.
Finally, the animal feed issuer PT Charoen Pokphand Indonesia Tbk (CPIN) was hit by 1.64% as a result of the weakening purchasing power of the people in Indonesia over the last few months, as indicated by deflation for two consecutive months and the CPI that has not improved.
The sectoral index that was the most depressed in today’s trading was the basic industry index with a 1.97% decline.
From Uncle Sam, negative sentiment emerged after pthere is still no point in discussing fiscal stimulus in the USk light in the US parliament (Congress). The boss of the Fed, Jerome Powell even said fiscal stimulus is needed to immediately revive the US economy.
“We’ve got up pretty fast, and that’s good. But there is still a long way to go. So, I want to say we need to get together, all of us. The economic recovery will go faster if it has the support of Congress and the Fed,” Powell said to the public. House of Representatives Select Subcommittee, Wednesday morning local time.
Negative sentiment next came from the development of the corona virus vaccine made by AstraZeneca. The final stage clinical trial of a vaccine called AZD1222 is still not continuing in the US. Federal investigators are said to be still looking for “important answers” to patient safety, US Secretary of Health and Health Services Alex Azar told CNBC International Wednesday.
AZD1222 vaccine clinical trials have been suspended since 6 September, after patients in the UK experienced serious side effects.
Other bad news comes from Europe, amid the increase in Covid-19 cases, business activity (manufacturing and services) has shrunk again.
Yesterday, IHS Markit reported the purchasing managers’ index (PMI) for the combined services and manufacturing in September for the eurozone of 50.1, down sharply from August’s 51.9.
The PMI uses the number 50 as the threshold, below it means contraction, while above it means expansion.
The sharp slowdown in expansion in September was due to the service sector. The eurozone services PMI was reported at 47.6, down from August’s 50.5. The service sector contracted again after 2 months of expansion. Meanwhile, the PMI for the manufacturing sector was reported at 54.3, down from 55.2 in the previous month.
CNBC INDONESIA RESEARCH TEAM
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