Jakarta, CNBC Indonesia – The Composite Stock Price Index (JCI) collapsed at the close of the first trading session on Friday (11/26/2021), amid fears that the pandemic would worsen amid the emergence of the latest variant of the Covid-19 virus that could counteract a vaccine.
According to data from the Indonesia Stock Exchange, the JCI ended at 6,603,087 or a drop of 96.3 points (-1.44%) at the close of the afternoon. Opened up 0.15% to 6,688,569, the stock’s main benchmark index did not even have a chance to taste the green zone.
JCI continued to be under pressure and slid to its daily low of 6,594,813 ahead of closing at 11:30 WIB. Two-thirds of stocks on the stock exchange were bloody, as many as 431 units, leaving 119 strong and 109 flat.
The trading value increased to a level of Rp 9.1 trillion, involving 17 billion shares that changed hands 945,000 times. Foreign investors today still scored net sales (net sell), worth IDR 101.3 billion.
The stocks they sell are mainly PT Bank Central Asia Tbk (BBCA) and PT Bukalapak.com Tbk (BUKA) with net sales of Rp 148.2 billion and Rp 74.7 billion, respectively. Both shares were depressed by 1% to Rp 7,350/share and 2.4% to Rp 605/share.
On the other hand, the stocks being hunted include PT Telkom Indonesia Tbk (TLKM) and PT Tower Bersama Infrastructure Tbk (TBIG) with a net purchase value of Rp 348.1 billion and Rp 22.1 billion, respectively. The two moved in opposite directions, with TLKM rallying by 0.25% to IDR 4,010 and TBIG correcting by 1.65% to IDR 2,980/share.
In terms of transaction value, TLKM and BBCA shares lead with a total trading value of Rp 461.1 billion and Rp 315.8 billion, respectively, and PT Bank Negara Indonesia Tbk (BBNI) worth Rp 280.1 billion.
The JCI correction occurred in the midst of the collapse of the majority of Asian markets. Japan’s Nikkei Index led the way with a 3% correction, while Hong Kong’s Hang Seng dropped 2.1% and South Korea’s KOSPI dropped 1.3%. None of the major markets in Asia strengthened.
The negative sentiment that triggered it was the emergence of the latest variant of the corona virus (Covid-19) with a spike in mutations, namely B.1.1.529. This variant of Covid-19 has been detected in South Africa and has mutated to become more resistant to antibodies, thereby reducing the effectiveness of the vaccine and simultaneously being more infectious.
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.
CNBC INDONESIA RESEARCH TEAM
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