Foreigners net Buyers of 1.24 trillion, JCI strengthen to More than 32 month

Stock Market Today

Indonesian stock extended gains mainly supported by the large caps, rested at their highest level since February 2019.

Jakarta composite rose 50.637 points (+0.473%) to 6,516.943 while LQ45 increased 1.46% to 960.509. There were 28.833 billion shares traded worth of Rp17.791 trillion, including transaction of Rp1.636 trillion in negotiation market. Foreign investors purchased a net Rp1.24 trillion in regular market. 193 shares rose while 310 declined and 157 unchanged.

BBCA immediately shot to the level of Rp8,000/share in early trade, the first trading day after the stock split. This stock split was previously approved with a ratio of 1 : 5. The par value per share before the stock split is Rp62.5, and after the stock split is Rp12.5.

Index touched psychological level of 6,600 in early trade. Meanwhile, foreigners recorded the highest net buy in shares of BBRI, ASII and BMRI.

According to JISDOR released Wednesday afternoon, slipped 4 points (+0.03%) at 14,221 while spot rate stayed at 14,215.

Stocks in Asia and Europe fluctuated on Wednesday, with investors reacted to Chinese trade data while awaiting inflation data out of the U.S. along with earnings reports

Trading in Hong Kong is set to be cancelled on Wednesday because of severe weather due to Typhoon Kompasu.

China reported disappointing growth in imports in September, while exports beat expectations. Trade surplus with the U.S. rose to a monthly record of $42 billion — exports surged by about 30% from a year ago, while imports climbed by just under 17%.

In Europe, U.K. GDP was 6.9% higher in August than the same period last year, slightly outstripping a Reuters consensus forecast of 6.7%.

Democrats in the US House of Representatives have approved a $480 billion increase in the United States government’s borrowing limit, forestalling until December a reckoning with Republicans on the nation’s spending and debt.

Oil slightly retreated but held above $80 a barrel after a mixed finish in the previous session, amid worries that soaring coal and natural gas prices in China, India and Europe will stoke inflation and slow global growth, reducing oil demand. Brent slipped 20 cents (-0.24%) at $83.22 per barrel and U.S WTI down 13 cents (-0.16%) at $80.51 a barrel.

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