Jakarta, CNBC Indonesia – The Jakarta Composite Index (IHSG) closed in the green zone at the beginning of Monday (9/11/20) trading with an increase of 0.38% at the level of 5,356.00 after struggling in the correction zone.
After this morning the JCI had flown 1.12% at the level of 5,395 due to the certainty of victory for the candidate for President of the United States (US) from the Democratic Party, Joe Biden made the market happy again ahead of the closing of the first session, the increase in the JCI was cut.
Investors took profit taking because the JCI had been flying high in the last few days. JCI recorded even today managed to penetrate the previous highest level of 5,381 since the fall was attacked by the corona virus last March.
Trade data noted that foreign investors made net buying of Rp. 189 billion on the regular market today with today’s transaction value of Rp. 10.7 trillion.
The shares that are most sold by foreigners today are PT Astra International Tbk (ASIII) with a net sale of Rp. 127 billion and PT Indofood CBP Sukses Makmur Tbk (ICBP) which recorded a net sell of Rp. 37 billion.
Meanwhile, the stocks most collected by foreigners today are PT Bank Rakyat Indonesia Tbk (BBRI) with a net buy of IDR 368 billion and PT Telekomunikasi Indonesia Tbk (TLKM) with a net buy of IDR 40 billion.
Meanwhile, from the Uncle Sam Stock Exchange, the Dow Jones Industrial Average (DJIA) rose sharply by 6.87% point-to-point, while the S&P 500 shot 7.32%. Meanwhile, the increase in the Nasdaq Composite was fantastic from the other two indexes, which skyrocketed 9.39%.
From within the country, Indonesian consumers are increasingly less confident in looking at the current economy and the next few months. This can be seen from the decline in the Consumer Confidence Index (IKK).
“The Bank Indonesia (BI) Consumer Survey indicates that improvement in consumer confidence is still on hold in October 2020. The Consumer Confidence Index (IKK) in October 2020 was 79.0, lower than 83.4 in September 2020,” said a written statement released by BI. Monday (9/11/2020).
The increase in the three indexes of the Wall Street stock exchange was due to the sentiment of the United States (US) presidential election which was won by a candidate from the Democratic Party, namely Joseph ‘Joe’ Biden.
On Sunday, November 8 2020 at 09:38 WIB, Biden received 290 electoral college votes to Trump’s 214. It took 270 electoral votes to become the winner of the presidential election so that Biden has legally held the status of the elected US president.
Biden’s victory had been predicted long ago. Various opinion polls favor the former vice president during President Barack Obama’s administration over Trump.
One thing that makes market participants more comfortable with Biden is the expectation that future government policies will not be ‘weird’.
Most likely there will be no more trade wars between the US and various countries, especially China.
No other president has openly ‘attacked’ the central bank governor. There are no more teases on Twitter that shock not only the virtual world but also the real world.
“Biden is good news for the market. We are tired of the impact of Trump’s taunts,” said Christopher Stanton, Sunrise Capital Partners’ Chief Investment Officer, as quoted by Reuters.
CNBC INDONESIA RESEARCH TEAM
(trp/hps)
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