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Jakarta, CNBC Indonesia – The trend of the Jakarta Composite Index (JCI) last week continued to weaken in line with the many negative catalysts (sentiment) coming in the domestic and international markets.
On a weekly basis, last week JCI fell 2.24%, although on Friday (9/25) the main benchmark index of the Indonesian Stock Exchange (IDX) closed higher at 4,945.79.
While the week before, JCI was successful rebound and increased almost 1% weekly (weekly).
At the end of last week’s close, foreign investors carried out a net settlement in all markets for a total of Rp 829.6 billion.
The sentiment that sent JCI back into the red zone was related to the news that Indonesia would fall into the abyss of recession and the release of less-than-beautiful global data indicating that the economic recovery would be slower than expected.
Nationally, the negative sentiment came from Finance Minister Sri Mulyani Indrawati, who predicted that by the third quarter, the Indonesian economy would be in the range of minus 2.9 percent to minus 1 percent.
This means that the national economy contracted for two consecutive quarters after a 5.32% contraction in the second quarter, so that Indonesia legally and convincingly fell to the brink of recession.
As for the whole year or Whole year The economy is also expected to remain between minus 1.7% and minus 0.6%. This is because the contraction due to the Covid-19 pandemic will continue in the second half of this year.
“This means that negative territory may occur in the third quarter and may still be ongoing for the fourth quarter, that we are trying to be close to 0 or positive,” he said via a virtual press conference on Tuesday (22 / 9/2020).
Since panorama Ministry of Finance, almost all sectors that support economic growth have contracted this year. Only government consumption has grown positively due to various aids provided during the Covid-19 pandemic.
Starting from household consumption from -3% to -1.5%, government consumption from 9.8% to 17%, investment from -8.5% to -6.6%, export from -13.9 % to -8.7% and Imports -26.8% to -16%.
Meanwhile, global sentiment emerged from IHS Markit reports Purchasing Managers Index September’s combined manufacturing and services (PMI) for the Eurozone was 50.1, sharply below August’s 51.9.
The PMI uses the number 50 as a threshold, below means contraction, while above means expansion.
The sharp slowdown in expansion in September was due to the services sector. The euro zone services PMI was reported at 47.6, down from 50.5 in August.
The service sector contracted again after 2 months of expansion. Meanwhile, the PMI for the manufacturing sector was reported at 54.3, down from 55.2 the previous month.
Referring to IDX data, as of the end of last week the total market capitalization of the shares large cap it reached 2.605 trillion rupees, down from the previous position of 2.651 trillion rupees.
Market capitalization development of large cap issuers (RP T)
| Not. | They emit | September 25, 2020 | Not. | They emit | September 18, 2020 | Not. | They emit | 11 september 2020 |
| one. | Bank of Central Asia / BBCA | 685 | one. | Bank of Central Asia / BBCA | 687 | one. | Bank of Central Asia / BBCA | 721 |
| two. | Bank Rakyat Indonesia / BBRI | 386 | two. | Bank Rakyat Indonesia / BBRI | 393 | two. | Bank Rakyat Indonesia / BBRI | 397 |
| 3. | Unilever / UNVR | 302 | 3. | Unilever / UNVR | 306 | 3. | Unilever / UNVR | 317 |
| Four. | Telkom / TLKM | 266 | Four. | Telkom / TLKM | 286 | Four. | Telkom / TLKM | 278 |
| 5. | Mandiri Bank / BMRI | 247 | 5. | Mandiri Bank / BMRI | 258 | 5. | Mandiri Bank / BMRI | 253 |
| 6. | Astra / Oving | 197 | 6. | Astra / Oving | 194 | 6. | Astra / Oving | 187 |
| 7. | Sampoerna / HMSP | 169 | 7. | Sampoerna / HMSP | 176 | 7. | Sampoerna / HMSP | 186 |
| 8. | Chandra Asri / TPIA | 128 | 8. | Chandra Asri / TPIA | 125 | 8. | Chandra Asri / TPIA | 121 |
| 9. | PBC / ICBP of the food industry | 117 | 9. | PBC / ICBP Indofood | 119 | 9. | PBC / ICBP of the food industry | 120 |
| 10. | Sinarmas / SMMA | 107 | 10. | Sinarmas / SMMA | 107 | 10. | Sinarmas / SMMA | 107 |
Source: IDX, based on stock price data, Friday (9/25/2020)
Based on the above data, most of the market capitalization or Market cap issuers large cap (with a market capitalization of more than Rs 100 trillion) weakened, only two stocks strengthened and one of them tended to stagnate.
So far, there has been no change in position from this week to the week before, where PT Bank Central Asia Tbk (BBCA) is still firmly at the top of the rankings with a market capitalization of IDR 685 trillion, although Market cap-2 trillion rupees.
Meanwhile, the biggest drop came in shares of PT Telekomunikasi Indonesia Tbk (TLKM), which fell by Rs 20 trillion, followed by PT Bank Mandiri Tbk (BMRI), which fell by Rs 11 trillion.
Meanwhile, the number Market cap-PT Sinarmas Multiartha Tbk (SMMA) registered a stagnating trend.
Market capitalization or Market cap is the market value of an issuer, the multiplication of the share price and the number of shares outstanding in the market, the higher the value Market cap Issuers, the movement’s influence is also great on the JCI movement.
For the record, in the first session this Monday (9/28), JCI closed minus 0.45% at the 4.923 level.
CNBC INDONESIA INVESTIGATION TEAM
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