Jakarta, CNBC Indonesia – The Composite Stock Price Index (JCI) closed this week’s trading with a good performance. The index rose 1.26% to 6,720.26 and scored an all-time high (all time high/ATH) new.
The index opened 0.23% higher at 6,651.78. On trade intraday today, the JCI moved in the range of 6,551.78 as the opening level and the lowest to 6,720.99 as the highest level.
Trading data recorded that 301 stocks rose, 203 weakened and 167 stagnated when the JCI jumped 1%. Transactions penetrated Rp. 14.63 trillion. In the regular market, foreigners also bought up domestic shares with a net buy of Rp 473.81 billion.
The increase in the price of big cap stocks became the main support for the JCI’s performance today. Shares of PT Telekomunikasi Indonesia Tbk (TLKM) rose 7.44 percent after getting energy from foreign net buys of Rp 456.1 billion.
Furthermore, there are shares of PT Bank Rakyat Indonesia Tbk (BBRI) which were also bought up by foreigners with a net buy of Rp 170.1 billion. As a result, BBRI shares flew 2.39%.
Even so, there are also blue chip stocks that are actually released by foreigners when the market is euphoric. The shares are shares of PT Bank Negara Indonesia Tbk (BBNI) and PT Astra International Tbk (ASII), which were sold by foreigners amounting to Rp 44.4 billion and Rp 38.3 billion, respectively.
Although there was an uneasy sentiment about the performance of the US stock market which was not compact last night and the outbreak of Covid-19 in Germany, the Indonesian stock exchange successfully showed its teeth. Domestically, the release of good economic data has also become a positive catalyst for stock price movements.
The balance of payments surplus was supported by the current account surplus of US$ 4.5 billion. All of this was due to the Indonesian goods trade balance which was also a surplus of US$ 13.24 billion in the same period. Indonesia’s exports which grew significantly became the biggest driver. Bank Indonesia (BI) noted that Indonesia’s Balance of Payments (BOP) posted a surplus of US$ 10.7 billion in the third quarter of 2021. BOP performance improved from the previous quarter. This is because in the April-June 2021 period, Indonesia’s BOP experienced a deficit of US$ 0.4 billion.
RI’s exports that shot up were in line with the global economy, especially trading partner countries which remained solid and the increase in prices of main export commodities such as coal to crude palm oil (CPO), both of which had penetrated the level all time high.
CNBC INDONESIA RESEARCH TEAM
(trp/trp)
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