Jakarta, CNBC Indonesia – The Composite Stock Price Index (IHSG) in the first trading session on Tuesday (18/5/2021) closed down 0.77% to 5,788.68. This continued the weakening in yesterday’s trade which confirmed that JCI was in a downward trend.
Trade data noted that as many as 160 stocks rose, 310 stocks fell, and 146 others were stagnant. The transaction value in today’s first trading session reached IDR 6 trillion and foreign investors took net selling (net sell) amounting to IDR 270 billion in the regular market.
Registered foreigners have made net sales (net sell) in shares of PT Bank Central Asia Tbk (BBCA) amounting to Rp. 94 billion and PT Bank Rakyat Indonesia Tbk (BBRI) amounting to Rp. 37 billion.
Meanwhile, foreigners also make net purchases (net buy) in the shares of PT Aneka Tambang Tbk (ANTM) amounting to IDR 50 billion and PT United Tractors Tbk (UNTR) worth IDR 26 billion.
Several shares big cap became the target of foreign investors selling action in the first trading session today and also added to the JCI.
Today’s trade sentiment came from neighboring countries such as Malaysia and Singapore, where an increase in cases of the corona virus infection (Covid-19) forced them to lock their economies again.
Starting last Sunday (16/5/2021), Singapore has again tightened restrictions on public activities and will take place within the next month.
Malaysia has also re-imposed territorial restrictions (lockdown) nationally from 12 May to 7 June. Lockdown this is the third time, after March 2020 and January 2021. Malaysia is now in the midst of the third wave of the rise of Covid-19.
When lockdown The more prevalent, especially in the Asian region, the prospects for economic recovery are stagnant.
Meanwhile from Japan, data on economic growth for the first quarter of 2021 was released this morning. However, the data on the country’s economic growth in the first quarter of 2021 is considered unsatisfactory.
In the first quarter of 2021, the Japanese economy grew negatively (contracted) by 1.3% compared to the previous quarter (quarter-to-quarter/ qtq). Deeper than the market consensus that garnered Reuters namely -1.2% qtq especially compared to the fourth quarter of 2020 which grew 2.8% qtq. ‘
On a quarterly basis an annualized (annualized), Japan’s Gross Domestic Product (GDP) grew -5.1%. Much worse than the final quarter of 2020 which grew 12.7%, also worse than consensus Reuters which estimated at -4.6%. This is the first contraction since the second quarter of 2020.
The corona virus pandemic (Coronavirus Disease-2019 / Covid-19) is again ‘roaming’ in the Land of the Rising Sun. This made the government re-enforce a state of emergency in a number of major cities, including the capital Tokyo.
Restrictions on community activity and mobility have caused demand to plummet. Household consumption grew -1.4% qtq in the first quarter of 2021, worsening compared to the previous quarter which grew 2.2% qtq. Investment also contracted, growing by -1.4% qtq.
However, most of the stock market players in Asia do not seem to be overly responding to the data on Japan’s economic growth in the first quarter of 2021 which was released today, as seen from the Asian stock markets, which mostly experienced gains today.
At 11:26 WIB, Japan’s Nikkei index skyrocketed 2.02%, while Hong Kong’s Hang Seng flew 1.25%, then Singapore’s Straits Times jumped 1.5%, South Korea’s KOSPI jumped 1%, and finally China’s Shanghai Composite edged up 0.08%.
CNBC INDONESIA RESEARCH TEAM
(chd / chd)
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