Jakarta, CNBC Indonesia – Composite Stock Price Index (IHSG) on Wednesday’s trading (7/10/20) it was closed in the green zone 0.10% at the level of 5,004.32. The reference index for the Indonesia Stock Exchange (BEI) was successfully closed above its level psychologically 5,000 after a day in the red zone.
The JCI also touched a daily high at 5,014, and had collapsed to a daily low of 4,962.
IDX trade data noted that foreign investors made net selling of Rp. 411 billion in the regular market with a transaction value of Rp. 16.8 trillion. A total of 182 stocks rose, 227 stocks fell, and 177 stocks remained unchanged.
The transactions in yesterday’s trade were quite large because two jumbo transactions appeared in the negotiation market, namely PT Bank Permata Tbk (BNLI) worth IDR 4 trillion in the context of a mandatory tender offer to purchase public shares.
The second transaction is PT Vale Indonesia Tbk (INCO) worth IDR 5.5 trillion in line with the divestment of INCO shares from its shareholders to MIND ID or PT Inalum, the BUMN Mining Holding.
The stocks most sold by foreigners yesterday were PT Bank Rakyat Indonesia Tbk (BBRI) with a net sale of Rp. 380 billion and PT Perusahaan Gas Negara Tbk (PGAS) which recorded a net sell of Rp. 30 billion.
Meanwhile, the stocks most collected by foreigners were PT Bank Mandiri Tbk (BMRI) with a net buy of Rp. 67 billion and PT Bank Central Asia Tbk (BBCA) with a net buy of Rp. 37 billion.
On the other hand, in the midst of domestic sentiment regarding the mass strike action of around 2 million workers in the country rejecting the passage of the Job Creation Law (Ciptaker), there are at least 10 stocks that have registered significant gains.
Even two of them recorded a gain of above 30% a day. However, most of the top five stocks are priced below IDR 100 / share with low market capitalization.
5 Saham Top Gainers October 7, 2020
1. PT Gunawan Dianjaya Steel Tbk (GDST)
GDST’s shares soared 33.80% to the level of Rp 95 / share, with a transaction value of Rp 16.3 billion and a trading volume of 187.2 million shares. The company’s market capitalization reached Rp. 878 billion. In the last 1 trading month, shares company manufacturing this hot rolled steel plate skyrocketed 48%, and the last 6 months soared 90%.
2. PT Cahayaputra Asa Keramik Tbk (CAKK)
The shares of this ceramic producer company shot up 30.19% to Rp 69 / share, with a transaction value of Rp 10.42 billion and a trading volume of 153.96 million shares. CAKK’s market capitalization reaches IDR 83 billion. During the last 1 month CAKK shares have jumped 38%, in the last 6 months it has flown 38% as well.
3. PT Steadfast Marine Tbk (KPAL)
This shipyard issuer’s shares shot up 16.36% to the position price of Rp 64 / share, with a relatively small transaction value of only Rp 6.7 billion and a trading volume of 105.6 million shares. The market capitalization of KPAL is only IDR 68 billion. In the last month, KPAL’s shares rose 28% and in the last 6 months it fell 37%.
4. PT Steel Pipe Industry of Indonesia Tbk (ISSP)
This armored issuer shares rose 15.83% to Rp 139 / share, with a transaction value of Rp 30.6 billion and a trading volume of 222.3 million shares. ISSP’s market capitalization reaches Rp. 999 billion. The last month ISSP shares rose 13% and in the last 6 months jumped 48%.
5. PT Pelayaran Tamarin Samudra Tbk TAMU)
The shipping issuer’s shares rose 15.38% to the level of Rp 60 / share, with a relatively low transaction value of Rp. 5.9 billion and a trading volume of 97.9 million shares. TAMU’s market capitalization reaches IDR 2.25 trillion. In the last month, TAMU’s shares have increased by 9% and in the last 6 months they have fallen 59%.
Meanwhile, there were five stocks that were also positive and became the top gainers, namely PT Tiga Pilar Sejahtera Food Tbk (AISA), up 7.85% at Rp. 220 / share, PT Krakatau Steel Tbk (KRAS) up 5.70% in IDR 334 / share, and PT Buana Lintas Lautan Tbk (BULL) up 5.41% at IDR 312 / share.
Two more namely PT Itama Ranoraya Tbk (IRRA), up 4.53% at IDR 810 / share and PT HM Sampoerna Tbk (HMSP), up 3.03% at IDR 1,510 / share.
The strengthening of IRRA shares occurred amid positive sentiment on the company’s plan to expand and acquire a single-use syringe company, Oneject.
Regarding the sentiment of labor demonstrations, Kanaka’s Senior Vice President Research Hita Solvera, Janson Nasrial argues, even though the Omnibus Law has been passed into law by the parliament and received rejection reactions from various groups, the Job Creation Law has indeed become a breakthrough in the last 20 years in terms of legislation – legislation to facilitate investment into Indonesia.
“JCI has not factored into the long-term impact of the Omnibus Law, [meski[ ini merupakan achievement luar biasa dalam 20 taun terakhir,” katanya dalam wawancara dengan CNBC Indonesia, Rabu (7/10/2020).
Janson mengakui, beberapa pasal dalam Omnibus Law memang cenderung menguntungkan pengusaha.
Namun di sisi lain, saat pandemi seperti ini pengusaha juga menghadapi berbagai risiko turunan (downside risk) seperti kondisi makro ekonomi, daya saing pekerja Indonesia yang masih kalah dengan negara-negara ASEAN lainnya.