Jakarta, CNBC Indonesia – Three shares of palm oil issuers, such as PT Triputra Agro Persada (TAPG), together with gold mining issuer PT J Resources Asia Pacific Tbk (PSAB) became the top gainers in the first half of today’s trading, Wednesday (6/10/2021).
Meanwhile, the securities of PT Trimegah Sekuritas Indonesia Tbk (TRIM) must be willing to be the top losers.
The Composite Stock Price Index (JCI) performed extraordinary by breaking the psychological level of 6,400 this afternoon. JCI jumped 2.01% to 6,414.60 at the close of the first trading session on Wednesday (6/10).
According to IDX data, there were 325 stocks up, 187 stocks declining and 140 stocks stagnant, with a transaction value reaching Rp 12.39 trillion and trading volume reaching 20.17 billion shares.
Along with the surge in the JCI, foreign stock market investors flocked to the Indonesian stock exchange with a record foreign net buying of Rp 1.75 trillion in the regular market. Meanwhile, foreigners recorded net purchases in the negotiating market and cash market of Rp 1.21 trillion.
Here are the top 5 stock gainers and losers of today’s session (6/10).
Top Gainers
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Triputra Agro Persada (TAPG), shares +14.01%, to Rp 895, transaction Rp 108.8 M
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J Resources Asia Pasifik (PSAB), +10.97%, to Rp 172, transaction Rp 19.6 M
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Eagle High Plantations (BWPT), +8.16%, to Rp 106, transaction Rp 73.4 M
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PP London Sumatra Indonesia (LSIP), +7.66%, to Rp 1,475, transaction Rp 133.3 M
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Astra International (ASII), +7.66%, to Rp 5,975, transaction Rp 564.8 M
Top Losers
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Trimegah Sekuritas Indonesia (TRIM), shares -6.43%, to Rp 320, transaction Rp 17.6 M
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Primarindo Asia Infrastructure (BIMA), -6.31%, to Rp 208, transaction Rp 7.6 M
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BPD Banten (BEKS), -4.55%, to Rp 84, transaction Rp 20.9 M
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Sumber Alfaria Trijaya (AMRT), -4.53%, to Rp 1,265, transaction Rp 17.3 M
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Repower Asia Indonesia (REAL), -3.70%, to IDR 104, transaction IDR 3.0 M
TAPG shares soared 14.01% to Rp 895/share, continuing the upward rally for the last 3 days. In a week TAPG shares rose 33.58%, while in a month rose 44.35%.
Besides TAPG, two other palm oil stocks, BWPT and LSIP, jumped 8.16% and 7.66% respectively this afternoon.
The rise in palm oil stocks today is in line with the rise of hprice of crude palm oil (Crude Palm Oil/CPO) shot up in midday trading today. The increase in the price of crude oil also raised the price of CPO.
On Wednesday (6/10/2021) at 10:24 WIB, the price of CPO on Bursa Malaysia was recorded at MYR 4,869/ton. Soared 2.76% compared to the previous day’s position and became the highest record in the history of CPO trading.
Meanwhile, PSAB shares also shot up 10.97%, after yesterday’s stagnation.
This increase occurred as investors seemed to tend to be optimistic about efforts to sell company assets amidst PSAB’s debt bondage to PT Bank Negara Indonesia (Persero) Tbk (BBNI).
The latest news, PSAB, through its subsidiary, PT J Resources Nusantara (JRN), signed a conditional sale and purchase agreement for the sale of all JRN shares in PT Gorontalo Sejahtera Mining to PT Andalan Bersama Investama, a subsidiary of PT Provident Indonesia.
Previously, PSAB was having difficulty paying debts to BBNI. PSAB explained that on April 12, 2019, PSAB’s subsidiaries, PT J Resources Nusantara (JRN) and BNI had signed a Secured Facilities Agreement.
The loan facility consists of facility A of US$ 96,529,388 or equivalent to Rp. 1.40 trillion (exchange rate of Rp. 14,500/US$) with a tenor of 59 until March 16, 2024.
Facility B amounting to US$ 40 million (Rp 580 billion) with a payment term of up to April 12, 2020, in which the repayment funds from Facility B will use the proceeds from the rights issue that will be carried out by the company.
Meanwhile, facility C amounted to US$ 95,455,500 (Rp 1.38 trillion) with a term of 8 years starting April 12, 2019.
In contrast, TRIM and BIMA shares shared their place in the top losers, after sinking 6.43% and 6.31%, respectively.
CNBC INDONESIA RESEARCH TEAM
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