Jakarta, CNBC Indonesia – Starting this week’s trading, the Jakarta Composite Index (JCI) was under pressure. Even the index had dropped 1% even though now it has started to rise. However, when the JCI fell, only one sectoral index was observed to strengthen, namely the health sector index.
The health sector index rose 0.51% and was supported by rising stock prices of listed hospitals, laboratories and drug manufacturers.
The highest increase in the share price of health sector issuers was experienced by shares of PT Itama Ranoraya Tbk (IRRA) which shot up 8.16%. Then in the runner-up position there was a BUMN duo, namely PT Indofarma Tbk (INAF) and PT Kimia Farma Tbk (KAEF). which went up 5%each.
The following are healthcare sector stocks that rose when the JCI dropped:
- PT Mitra Utama Karya Sehat Tbk (MIKA) (+2.58%)
- PT Prodia Widyahusada Tbk (PRDA) (+1.90%)
- PT Sejahteraraya Anugrahjaya Tbk (SRAJ) (+1.41%)
- PT Phapros Tbk (PEHA) (+3.49%)
- PT PYridam Farma Tbk (PYFA) (+3.92%)
- PT Kimia Farma Tbk (KAEF) (+4.98%)
- PT Indofarma Tbk (INAF) (+5.11%)
- PT Itama Ranoraya Tbk (IRRA) (+8.16%)
- PT Kalbe Farma Tbk (KLBF) (+0.31)
- PT Tempo Scan Pacific Tbk (TSPC) (+0.34%)
Last week the market was shocked by a statement by the World Health Organization (WHO), which said that they had discovered a new variant of Covid-19 which is much more contagious than the initial virus and the Delta variant.
The variant is named Omicron which was first discovered in South Africa and has now been found in the UK, several European and Asian countries such as Hong Kong.
Three major countries in mainland Europe, namely Britain, Germany and Italy, said they had found cases related to Omicron on Saturday. In addition, Hong Kong and Belgium also reported cases related to Omicron in their respective countries.
BioNTech also said Friday that it expects more data on the worrying new coronavirus variant detected in South Africa within two weeks to help determine whether its vaccine produced with partner Pfizer Inc should be reworked.
Pfizer and BioNTech say that if necessary they hope to deliver a new vaccine adapted to the emerging variant in about 100 days.
The lockdown action taken by many Western countries has re-ignited the market to respond negatively. European stock markets fell a lot with a 3% correction. Wall Street and Asian stocks sink up to 2%.
The development of the Omicron variant will still be the main sentiment moving the market at least for today. Although overall this sentiment tends to be negative for the market, the health sector tends to benefit so that the issuer’s share price increases.
CNBC INDONESIA RESEARCH TEAM
(trp/trp)
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