Jakarta, CNBC Indonesia – The Composite Stock Price Index (JCI) closed sharply higher with a 1.5% increase at the level of 6,726.37. The closing on the last trade this week, Friday (21/1/2022) also became the highest closing level in the history of the local capital market.
Even though it was corrected at the beginning of trading, the index consistently experienced appreciation throughout trading.
The closing level is the highest level in today’s trading. Trading data noted that 257 stocks rose, 253 fell and 167 stocks stagnate.
The transaction value reached Rp 11.15 trillion. Indonesia is again flooded with foreign funds. Foreign investors were observed to have taken net buying or net buy with a jumbo value in the regular market, amounting to Rp 978.23 billion.
Big bank stocks are still the prima donna of foreign investors. The shares of PT Bank Central Asia Tbk (BBCA) and PT Bank Mandiri Tbk (BMRI) are the two shares with net buy the largest foreign investors today are Rp 275 billion and Rp 147 billion, respectively.
Meanwhile, issuers PT MNC Vision Networks Tbk (IPTV) and PT Bukalapak.com Tbk (BUKA) were both released by foreigners with a net sell of Rp 19.5 billion and Rp 18.9 billion, respectively.
JCI is now the champion in Asia. In the second position there is Hang Seng which rose slightly 0.05%. While the Shang Hai Composite led the decline with a correction of 0.91%.
Last night Wall Street’s performance was quite disappointing. The three benchmark indexes are in the red zone.
The Dow Jones index fell 0.86%, then the S&P 500 and Nasdaq Composite indexes fell 1.15% and 1.30%, respectively. US government bond yields are still at their highest level.
The yield on the 2-year tenor is already above 1%, which indicates that the market is starting to anticipate the monetary tightening by the Fed.
Then from China, the central bank (PBoC) actually took a different action. Monetary policy was loosened by lowering the benchmark 1-year and 5-year interest rates by 10 bps and 5 bps.
The easing is because China is experiencing an economic slowdown due to an increase in Covid-19 cases, rising raw material prices and a slowdown in the property sector.
Domestically, yesterday BI decided to keep the benchmark interest rate at 3.5%. However, BI started the normalization step by increasing the rupiah statutory reserve requirement for conventional, commercial and sharia banks starting in March 2022.
CNBC INDONESIA RESEARCH TEAM
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