MARKET REVIEW: IHSG Successfully Rebounds, Foreign Investors Net Buy Rp1.37 Trillion.

Pediafx.com – The Composite Stock Price Index (IHSG) closed higher by 0.38% in yesterday’s trading, supported by the strengthening of stocks in the raw materials and energy sectors such as AMMN, MBMA, and ADRO.

According to Mirae Asset Sekuritas Indonesia’s Morning Dew (August 29, 2023), Mirae Sekuritas analyst Roger MM explained that the IHSG closed up 0.38% in Monday’s trading. The Raw Materials and Energy sectors led the gains with stocks such as AMMN, MBMA, and ADRO.

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“Foreign investors made a net purchase of Rp1.37 trillion, with transactions in the negotiation market amounting to Rp1.66 trillion in SMMA and BSIM stocks, while in the regular market, foreign investors made purchases in stocks such as BMRI, BRMS, and ADRO.”

The US stock market closed higher on Monday ahead of the release of economic data this week. Some of the economic data to be released include labor data, personal income and spending, ISM manufacturing, and GDP growth estimates for the second quarter. The Dow closed up 0.62%, the S&P rose 0.63%, and the Nasdaq climbed 0.84%.

The Indonesian government, through the Ministry of Energy and Mineral Resources, plans to increase incentives or the amount of subsidies for the conversion of gasoline-based motorcycles to electric ones to Rp10 million per unit, with the aim of further increasing the realization of the program’s utilization.

Market Indicator
JCI: 6,921.73 (+0.38%)
EIDO: 23.09 (+0.61%)
DJIA: 34,559.98 (+0.62%)
FTSE100: 7,338.58 (+0.00%)
USD/IDR: 15,292 (-0.02%)
10yr GB yield: 6.46 (-0.06bps)
Oil Price: 80.1 (+0.34%)
Foreign net purchase: -513.1

Foreign net purchase on single stocks (HOTS screen #0141)
TOP BUY: BMRI, EXCL, BRMS, ADRO, BTPS
TOP SELL: BBCA, INCO, BBRI, AMMN, TLKM

Most actively traded stocks (HOTS screen #0102)
SMMA, BBCA, BMRI, BSIM, AMMN

Mirae Asset Sekuritas Indonesia Equity Movers

EUR M3 Money Supply (YoY) (Jul)
Act: -0.4% Cons: 0.0% Prev.: 0.6%
EUR Loans to Non-Financial Corporations (Jul)
Act: 2.2% Cons: 2.5% Prev.: 3.0%

*RSCH +13.91%. Hospital company PT Charlie Hospital Semarang Tbk (RSCH) officially listed its shares on the Indonesia Stock Exchange (IDX) on Monday (28/8/2023).

*BBTN +0.79%. PT Bank Tabungan Negara (Persero) Tbk (BBTN), or BTN, has launched KPR BTN Prioritas. The latest product is part of BTN’s efforts to continue increasing its market share in housing financing and is intended for priority customers with a value of more than Rp750 million.

*INDY +1.48%. On Thursday (17/8), INDY’s subsidiaries, namely PT Solusi Mobilitas Indonesia, PT Indika Energy Infrastructure, and PT Ilectra Motor Group, signed agreements with investors.

Technical Insight

• IHSG Daily, 6,921.73 (+0.38%), mixed to higher, with a daily trading range of 6,900 – 6,949, with a critical level at 6,820. The optimized MFI indicator, optimized RSI indicator, and optimized Stochastic%D indicator are still showing upward movement. The index is above the centerline on the Optimized Bollinger Bands. In the weekly period, the correction of the optimized MFI indicator, optimized RSI indicator, and optimized Stochastic%D indicator is temporarily held, with the highest volume spread from the demand and supply sides around the current level.
• PGAS Daily, 1,455 (+0.34%), trading buy, TP 1,520, with a daily trading range of 1,450 – 1,480, with a cut loss level at 1,435. The correction of the optimized MFI indicator, optimized RSI indicator, and optimized Stochastic%D indicator is still visible but starting to be held. The current price is below the centerline on the Optimized Bollinger Bands, with the highest volume spread from the demand side and the supply side above the current level.
• HRUM Daily, 1,615 (+0.94%), trading buy, TP 1,665, with a daily trading range of 1,590- 1,640, with a cut loss level at 1,565. The correction of the optimized MFI indicator is starting to be held, while the optimized RSI indicator and optimized Stochastic%D indicator are still showing a downward trend. The price is still below the centerline on the Optimized Bollinger Bands, with the highest volume spread from the demand side around the current level and the supply side above the current level.
• BUMI Daily, 142 (+0.71%), trading buy, TP 149, with a daily trading range of 139 – 149, with a cut loss level at 134. The optimized MFI indicator, optimized RSI indicator, and optimized Stochastic%D indicator are showing an upward trend. The price is below the centerline on the Optimized Bollinger Bands, with the highest volume spread from the demand side, and the supply side is around the current level.