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Jakarta, CNBC Indonesia – The price of leading stocks fell this morning, Monday (7/9/2020), which created the Composite Stock Price Index (IHSG) release at the business opening earlier in the week.
Investors still seem to have doubts about the direction of the stock market after the US stock exchange, Wall Street, was corrected last weekend.
Based on trading data from the Indonesia Stock Exchange (IDX), the share price of PT Bank Central Asia Tbk (BBCA), the leader in the largest market capitalization, release 1.8% at Rp 31,325 / share.
Shares of PT Bank Rakyat Indonesia Tbk (BBRI) also fell 0.85% to a price level of 3,520 IDR / share.
Then PT Bank Mandiri Tbk (BMRI) shares fell 0.84% to the level of Rs 5,875 / share, as did PT Perusahaan Gas Negara Tbk (PGAS) shares minus 2.71%.
Others, namely PT Bank Negara Indonesia Tbk (BBNI) shares minus 0.48%, PT Unilever Indonesia Tbk shares fell 1.19%. This is a line of large-cap stocks listed on the IDX.
This morning, IHSG opened from the red zone to weaken 0.09% to the 5.235.01 level. As of 09/24 WIB, JCI had fallen 0.72% to the level of 5,202.27.
Last weekend, Wall Street experienced a crash. The Nasdaq index fell 1.27% or 144.97 points and ended at 11,313.13 positions. Then the S&P 500 fell 0.81% or 28.1 points to 3,426.96. Meanwhile, the Dow Jones Index fell 0.56% or 159.42 points to 28,133.31.
The trigger for the flushing of the Nasdaq stock market was caused by the fall of PayPal Holding shares, followed by Lululemon Athletica Inc and KLA Corp.
Meanwhile, Tesla Inc shares were still in the green zone and saw the largest increase of 2,781%, followed by Mylan NV with 2,264% and United Airlines with 2,166%.
The negative sentiment in financial markets also comes from the risk of escalating tensions between the United States and China. The United States government is reportedly considering imposing export restrictions on Semiconductor Manufacturing International Corporation (SMIC), China’s largest producer of semiconductors.
But there is also the possibility of a positive feeling emerging. China will report trade balance data that can show how China’s economy will continue to perform after the Covid-19 pandemic.
According to data from Trading Economics, exports in August are forecast to increase by 7.1% year-on-year (year-on-year) in August, while imports will increase 0.1% year-on-year. This means that the wheels of the Chinese economy are turning faster, which can be a positive sentiment for global financial markets.
If China’s export and import data show an increase, the financial market will get a breath of fresh air.
Meanwhile, data on national foreign exchange reserves (cadev) will be a concern.
Bank Indonesia (BI) reported in early August that Indonesia’s foreign exchange reserves at the end of July 2020 amounted to $ 135.1 billion. It jumped dramatically compared to the previous month, which amounted to $ 131.7 billion. The previous record highest for foreign reserves was US $ 132 billion which occurred in January 2018.
With cadev rising to record levels, BI has more ammunition to stabilize the rupee. So that you can provide convenience to foreign investors to invest in the country.
If the Indonesian cadev sets a record again, it will undoubtedly be a positive sentiment in the financial market.
[Gambas:Video CNBC](hps / bag)
