Net Sell Rp 2.47 Trillion, Foreigners Release BBCA, BBRI, and ADRO

Net Sell Rp 2.47 Trillion, Foreigners Release BBCA, BBRI, and ADRO

Foreign investors recorded net sales of Rp 2.47 trillion or the largest in a day for 2022. The most net sells hit the leading stocks.

Based on the Indonesia Stock Exchange (IDX), as many as 163 stocks rose, 423 stocks weakened, and 114 stocks remained stagnant. The most net sells hit PT Bank Central Asia Tbk (BBCA), PT Bank Rakyat Indonesia Tbk (BBRI), and PT Adaro Energy Tbk (ADRO).

Foreign selling occurred when the composite stock price index (JCI) of the Indonesia Stock Exchange (IDX), Monday (9/5), closed down 319.16 points (4.4%) to 6,909.75. The index moves in the range of 6,897-7,156 with a transaction value of Rp 22.12 trillion.

The decline in the index was influenced by the decline in all stock sectors, such as technology and financial sector stocks. The decline in the index was also triggered by the drop in leading stocks.

Previously, Praus Capital Head of Research Alfred Nainggolan said that the JCI correction at the opening of trading after the long Eid al-Fitr holiday which was very deep (the lowest was -4.5%) was influenced by the sentiment of the Fed's interest rate hike.

“After an increase of 50 bps in early May, the market will still anticipate the potential for another hike by the Fed in June. Because the Fed's interest rate spread is currently 0.75-1.00%, it is still far from the inflation rate of the United States (US) which is above 8% (8.4% March 2022),"

source:investor.id