Passionate Asian & Foreign Exchanges Buy Indonesian Stocks, JCI Sumringah

Jakarta, CNBC Indonesia – The Composite Stock Price Index (JCI) closed up 0.85% to 6,602.57 on Tuesday (7/12/2021).

JCI consistently moves in the green zone throughout trading. The index opened 0.13% higher to 6,575.98.

In intraday trading, the JCI moved in the range of 6,573 as its lowest level and 6,609 at its highest level.

When the JCI strengthened, it was observed that 271 stocks rose, 251 weakened and 148 stagnated. Today’s transactions reached Rp 14 trillion with foreign net buys reaching Rp 105 billion in the regular market.

The shares of PT Bank Rakyat Indonesia Tbk (BBRI) and PT Bank Negara Indonesia Tbk (BBNI) became the most bought shares by foreigners with a net buy of Rp 264 billion and Rp 49 billion, respectively.

The two stocks rose 2.92% and also contributed to the strengthening of the JCI.

Meanwhile, foreign net sells large shares in PT Bukalapak.com Tbk (BUKA) with a net sale of Rp 96 billion. Previously, the price of BUKA’s stock was corrected to reach the lower auto reject (ARB) level.

However, at the end of trading, BUKA’s stock cut its correction to 2.63%. Furthermore, there were also shares of PT Semen Indonesia Tbk (SMGR) which were released by foreigners amounting to Rp 47 billion and a correction of 0.62%.

The strengthening of the JCI also coincided with the green stock index of the Asian Region. The Hang Seng Index led the gains with an appreciation of 2.72%.

The excitement of Asian stock markets is also inseparable from Wall Street’s slick performance this morning. Starting this week, US stocks closed higher.

The Dow Jones index rose 1.87% and led the gains. The S&P 500 and Nasdaq Composite indexes rose 1.17% and 0.93%, respectively.

Domestic sentiment came from the release of data on foreign exchange reserves (cadev). Bank Indonesia (BI) reported that Indonesia’s cadev position in November 2021 reached US$ 145.9 billion.

When compared to the position in October 2021, the cadev last month increased by US$ 400 million. The increase in cadev was influenced by tax receipts, services and the withdrawal of government foreign loans.

CNBC INDONESIA RESEARCH TEAM

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