Jakarta, CNBC Indonesia – Composite Stock Price Index (JCI) managed to close bright and passionate on Monday (4/10/2021) trading earlier this week, driven by positive sentiment from rising commodity prices, especially coal, which experienced price spikes in the last few days.
The country’s benchmark stock index closed up 1.83% to 6,342.69. JCI finally succeeded in breaking the psychological level of 6,300 today.
Trade data noted that today’s transaction value fell again to Rp 17.2 trillion. Foreign investors are recorded as still making net purchases (net buy) in a fairly large amount, reaching Rp. 1.9 trillion in the regular market. A total of 317 stocks rose, 202 stocks weakened and another 143 were flat.
Today, foreigners are recorded to have bought up the four largest banking stocks with market capitalization (big cap) to more than IDR 100 billion.
As for the four bank shares big cap These are PT Bank Rakyat Indonesia Tbk (BBRI) which was bought up by foreigners for up to Rp 583 billion, PT Bank Central Asia Tbk (BBCA) for Rp 218 billion, PT Bank Mandiri Tbk (BMRI) for Rp 142 billion, and PT Bank Negara Indonesia Tbk ( BBNI) amounting to Rp 109 billion.
In addition to buying up four bank shares big cap up to more than Rp 100 billion, foreigners are also recorded to buy up a large share of mining heavy equipment producer, PT United Tractors Tbk (UNTR) to reach Rp 199 billion and shares of consumer issuer Indofood subsidiary, PT Indofood CBP Sukses Makmur Tbk (ICBP).
The following are stocks collected by foreign investors today.
|
– – |
Meanwhile, from net sales, foreigners recorded that they were still selling off shares of consumer household furniture, namely PT Ace Hardware Indonesia Tbk (ACES) and shares of energy consultancy PT ABM Investama Tbk (ABMM).
In addition to releasing ACES and ABMM shares, foreigners also sold shares in telecommunication issuer PT XL Axiata Tbk (EXCL), pharmaceutical issuer PT Kalbe Farma Tbk (KLBF), and shares in Hermina Hospital issuer PT Medikaloka Hermina Tbk (HEAL).
The shares released by foreign investors today are:
 –– |
Some of the stocks that are the driving force (movers) for the index comes from the energy sector, especially coal. This is in response to rising prices for fossil fuels, both gas, coal and crude oil.
The increase in energy prices was triggered by the energy crisis that hit various countries due to the scarcity of gas supply.
Last Sunday (3/10/2021), natural gas prices at Henry Hub (Oklahoma, USA) shot up 19.45%. Since the end of 2020 (year-to-date/YTD), natural gas prices skyrocketed by 118.35%.
Increasingly expensive gas prices make the cost of generating electricity using this fuel increasingly uneconomical. In Europe, the cost of generating electricity with natural gas is EUR 75,725/MWh on 28 September 2021. With coal, the price is only EUR 50.53/MWh.
However, Europe and China already have a commitment to reduce coal consumption which is considered environmentally unfriendly. With gas prices rising steadily, the hunt for primary energy sources has gone crazy. Even coal that had been ‘ignored’ is now being looked at again.
Indonesia is the world’s largest exporter of coal and palm oil (crude palm oil/CPO). The increase in the prices of these two commodities will certainly boost Indonesia’s export performance. Not only stimulating the national economy, the increase in exports will also support the stability of the rupiah exchange rate.
CNBC INDONESIA RESEARCH TEAM
(chd / chd)
– .
