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ILLUSTRATION. Employees wearing face masks cross in front of the stock movement board at the Indonesian Jakarta Stock Exchange.
Reporter: Ika Puspitasari | Editor: Herlina Kartika Dewi
KONTAN.CO.ID – JAKARTA. The Jakarta Composite Index (JCI) fell 1.18% to 5,100.86 on Tuesday (9/15). In one week, the JCI had dropped by 2.73%.
According to RTI data, foreign investors steer clear of various bank stocks. In one week, foreign investors have posted net sales or net sale shares of PT Bank Central Asia Tbk (BBCA), PT Bank Rakyat Indonesia Tbk (BBRI), PT Astra International Tbk (ASII), Bank Mandiri (Persero) Tbk (BMRI) and PT Telekomunikasi Indonesia Tbk (TLKM).
Furthermore, PT Merdeka Copper Gold (MDKA) shares are also included in the ranks of shares sold by foreign investors. Followed by the shares of PT Unilever Indonesia Tbk (UNVR), PT Indofood Sukses Makmur Tbk (INDF), Semen Indonesia (Persero) Tbk (SMGR) and PT Media Nusantara Citra Tbk (MNCN).
FAC Chief Research Analyst Sekuritas Wisnu Prambudi Wibowo assessed that foreign investors are releasing these shares because they have risen significantly. “Going into September, if there is a decline, it is normal because the JCI has risen for five months,” he said, on Tuesday (9/15).
Read also: As foreigners leave the capital market, domestic investors increasingly dominate
From the list of stocks widely publicized by foreigners, Wisnu finds MDKA and TLKM stocks attractive to pick up. The reason is that MDKA’s outlook is still pretty good because it is a gold mining company.
Wisnu continued, for TLKM with a price below Rp 2,700 it is already considered cheap even though this share has been gradually sold by foreigners. Historically, TLKM shares are priced at around Rs 4,000.
He advised market participants buy into weakness TLKM shares when the price is below IDR 2700 with a long-term target price of IDR 3300 and recommends buying MDKA shares with the target closer to IDR 1900 per share. cut loss at IDR 1,620.
At the close of trading on Tuesday (9/15), TLKM shares closed with a fall of 2.08% at the price of Rp 2,830 per share and MDKA shares were corrected by 2.99% at the price of Rp 1,620 per share. action.
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