Jakarta, CNBC Indonesia – The Composite Stock Price Index (JCI) closed down 0.82% to 6,602.21 at the end of trading Wednesday (27/10/2021).
By sector, almost all indices weakened except for the health and basic materials sector indexes.
The financial sector index, which weighs the most against the index, also fell 1% in line with the drop in the price of big bank shares, triggering a decline in the JCI.
However, in the midst of the JCI correction, foreigners were observed to still buy shares. Foreign net buys in the regular market were recorded at Rp 151.56 billion.
Despite the sinking, big bank stocks are still being hunted by foreigners. However, the two stocks with the largest foreign net buys today are PT Kalbe Farma Tbk (KLBF) and PT Bank Mandiri Tbk (BMRI) with Rp 112.1 billion and Rp 102.3 billion, respectively.
Meanwhile, the shares that were mostly released by foreigners were PT Bank Rakyat Indonesia Tbk (BBRI) and PT Astra International Tbk (ASII) with net sells of Rp 92.1 billion and Rp 41.9 billion, respectively.
The slumping performance of the JCI is also in line with the majority of major stock exchanges in the Asian region. The Nikkei index edged down 0.03%. Meanwhile, the Hang Seng and Shang Hai Composite indexes fell 1.6% and 0.98%, respectively.
From China, negative sentiment emerged after another property company had difficulty paying its obligations, following Evergrande Group, Fantasia Holdings and Sinic Holdings, namely Modern Land.
Reuters reported that the Hong Kong bourse issuer had missed coupon payments, adding to concerns about the wider impact of the debt crisis on China’s property sector.
Last week, Modern Land said it would defer payment of interest on the bonds maturing on Monday, October 25 and will pay a portion of it worth US$ 250 million or equivalent to Rp 3.62 trillion in the next 3 months.
CNBC INDONESIA RESEARCH TEAM
(trp/trp)
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