Jakarta, CNBC Indonesia – Today’s capital market investors are having a reuphoria, because capital markets in various parts of the world have successfully flown, including in Indonesia.
The Composite Stock Price Index (IHSG), which became the reference index for local exchanges in the middle of the trade, shot up 1.55%. The increase in the reference index in various worlds is of course inseparable from the news of the success of the corona vaccine’s effectiveness.
US pharmaceutical company Pfizer yang collaborating with BioNTech from Germany to announce that their vaccine is effective in warding off diseases caused by the corona virus (Covid-19) by more than 90% without dangerous side effects.
Despite the success in raising stock prices in general, it turns out that the news of the vaccine’s success has taken its toll. The victim was none other than the price of gold, which fell badly in overnight trading.
It was noted that the price of gold on the spot market had dropped severely from the level of US $ 1,951 / troy ounce to the level of US $ 1,861 / troy ounce or a decrease of 4.6% in an instant.
This is reasonable because if the corona virus pandemic is not prolonged then assets are hedged alias safe haven such as gold, the price will be corrected because investors tend to sell their gold and move their funds to more risky assets such as stocks where many issuers have the potential to benefit from the spinning back of the economy.
Suddenly, the fall in the price of gold in the spot market caused gold issuers in the country to fall. Consider the following table.
It was observed that all five gold issuers were corrected in mid-trading today. Today’s decline was led by PT Merdeka Copper Gold Tbk (MDKA) which corrected 5.34% to a price level of IDR 1,860 / unit.
Meanwhile, the thinnest correction was recorded by PT Hartadinata Abadi Tbk (HRTA) with a correction of 1.01% to the level of IDR 196 / unit.
PT Aneka Tambang Tbk (ANTM) Red Plate gold issuer also corrected quite 2.82% to the level of IDR 1/205 / unit.
Newest, Pfizer Chairman & CEO Albert Bourla said the latest developments were a wonderful day for science and humanity. The final efficacy of the vaccine is said to be safe.
“The first results from the phase three clinical trial of the vaccine indicate the ability of our vaccine to prevent Covid-19,” said Bourla in a statement, as reported by CNBC International.
“With today’s news we are getting closer to providing vaccines to people around the world, and hopefully this will help end the world health crisis,” said Bourla.
The two companies plan to apply for emergency use of the vaccine to the US Food and Drug Administration (FDA) in the third week of November 2020.
The news raises the hope that life will soon return to normal, the wheels of business are slowly turning back, and the economy will soon rise.
CNBC INDONESIA RESEARCH TEAM
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