Jakarta, CNBC Indonesia – The Indonesian financial market closed unsatisfactorily in the early trading week of Monday (28/5/2021). Where the Composite Stock Price Index (JCI), rupiah, and government bonds or compact state securities closed in the red zone in yesterday’s trading.
The JCI closed again and collapsed at the close of trading following the protracted cases of the corona virus (Covid)-19 in the country. The country’s benchmark stock index closed down 1.38 percent to 5,939.47.
Since the closing of session I last Monday, the JCI has not returned to the green zone and was forced to close below the psychological level of 6,000. Trading data recorded that 139 stocks rose, 380 stocks weakened and 117 others stagnated, while the transaction value in yesterday’s trade rose slightly to Rp 11.5 trillion.
Foreign investors recorded another net sell (net sell) in the regular market of Rp 221 billion. However, in cash and negotiated markets, foreigners make net purchases (net buy) as much as Rp. 289 billion.
The JCI movement tends to follow the Asian stock markets, which mostly closed lower in yesterday’s trading. But unfortunately, JCI led the weakening of Asian stock markets in yesterday’s trading.
Only Taiwan’s Weighted Index and Singapore’s Straits Times Index closed higher in yesterday’s trading. The Weighted Index rose 0.5%, while the Straits Times ended up growing 0.17%.
Following are the movements of the JCI and Asian stock exchanges on Monday’s trading:
Meanwhile, Garuda’s currency, namely the rupiah, also closed lower against the United States (US) dollar yesterday. US$ 1 is equivalent to Rp. 14,440 at the close of the spot market.
Rupiah weakened 0.14% compared to the closing position of trading last weekend. Even though at the opening of the market, the rupiah could still strengthen by 0.14%.
But along the way, that appreciation diminishes and runs out. Then the rupiah even entered the red line.
Similar to the rupiah, the majority of major Asian currencies are also powerless against the US dollar. Only the Japanese yen and Malaysian ringgit were still able to record appreciation.
The following is the movement of the US dollar against major Asian currencies on Monday (28/6/2021).
Meanwhile, the movement of SBN prices in yesterday’s trading was also observed to weaken, marked by an increase in yields (yield) across the tenor SBN reference. Investors ignored the increasingly worrying development of the Covid-19 RI pandemic and continued to divest their holdings in SBN in yesterday’s trade.
Ascension yield The largest share occurred in 10-year SBN, which is the state’s reference bond. That is up by 6.4 basis points (bp) to the level of 6.591%.
While for the hike yield the smallest occurred in SBN falling in the period of 1 year, 20 years, and 25 years which both increased by 0.7 bp today.
Yield in the opposite direction of the price, until it rises yield shows that bond prices are weakening, and vice versa. The unit of measurement of a basis point is equal to 1/100 of 1%.
The development of the Covid-19 pandemic is increasingly worrying, where on Monday, new cases of the corona virus (Covid-19) in Indonesia again increased to 20,694 people. This is the third highest record in adding new cases in a single day during the pandemic
The number of new cases brings the accumulation of positive cases to 2.135 million people. The positive results were found from 80,308 people who were tested today and yesterday.
The good news is that 9,480 people recovered today, bringing the total to 1,859 million people.
With the increase that occurred today, the active cases of Covid-19 in Indonesia reached 218,476 cases, an increase of 10,791 people compared to the previous day. This is a record for active cases of Covid-19 in Indonesia.
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