Jakarta, CNBC Indonesia – The decline in the Composite Stock Price Index (JCI) in today’s trading, Friday (17/6/2022) was mostly caused by external factors, especially the policies of the US central bank (The Fed).
At 10.14 WIB, the JCI fell 1.8% to 6,922, far away from its opening position at 6,987.75. However, even at the opening, the JCI had fallen almost 1%.
Snapper bank shares became the most released by foreigners in trading this morning.
Shares of PT Bank Central Asia Tbk (BBCA) became shares with net sell largest foreign investors reached Rp 60.2 billion. BBCA’s share price dropped almost 2% to Rp 7,450/unit.
Then the stock with the second largest foreign net sell was the state-owned bank PT Bank Rakyat Indonesia Tbk (BBRI) with a foreign net selling record of Rp 58 billion.
BBRI’s share price fell by more than 1% and the last price was at Rp 4,370/unit.
Other shares of KBMI IV bank which were also sold by foreigners were PT Bank Mandiri (Persero) Tbk (BMRI) shares with a net sell of Rp 18 billion.
BMRI’s share price experienced a sharper correction than BBCA and BBRI due to a drop of more than 2% to Rp 8,175/unit.
While the shares of banks with the largest assets in Indonesia were released by foreigners, when the JCI fell more than 1.5%, foreigners actually bought up shares of issuers of telecommunications, digital banks and technology.
PT Indosat Tbk (ISAT) shares were bought up by foreigners worth Rp 9.7 billion. Then there are also shares of PT Bank Neo Commerce Tbk (BBYB) which were bought by foreigners for Rp. 8.4 billion.
Furthermore, there are shares of technology issuers, namely PT Bukalapak.com Tbk (BUKA) which were bought by foreigners for Rp. 5.4 billion.
But unfortunately, even though they were bought by foreigners, the prices of the three shares continued to sink. ISAT’s share price fell to the bottom auto reject (ARB) with a 6.91% correction
ADRO shares, which have experienced consecutive ARBs for the past few days, are still experiencing a decline today. In fact, the decline until 10:52 am has reached 140 points to the level of Rp 2,910 per share. However, the net buy of ADRO shares reached Rp 31.8 billion.
Even though BBYB’s shares fell 10 points to Rp 1,085 per share, they still recorded a net buy of Rp 8.6 billion. Several other stocks even though they fell also recorded net buys, such as the BUKA stock which netted Rp 5.5 billion.
Overnight Wall Street also experienced a sharp decline. The Dow Jones index plunged 2.42%. The S&P 500 index fell deeper with a 3.25% correction.
But the most tragic remains the benchmark US technology stock index, the Nasdaq Composite, which fell by 4.08%.
High inflation sentiment and aggressive monetary tightening that could trigger a recession are still dominant among market participants.
The Fed did raise the benchmark interest rate 75 bps in June 2022 in line with market forecasts. However, high inflation is still a ghost for the economy and financial markets.
The Fed boss Jerome Powell’s statement regarding the still solid US economy also received a lot of scathing criticism from analysts and market players.
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