Financial Stock Market Capitalization Plummets by Rp 70Bn
29 July 2015 14:58 WIB
TEMPO.CO, Jakarta - Amid a slowdown in lending disbursement, the stock market capitalization in the financial sector plummeted by Rp 70 trillion (US$5.38 billion) in the first semester of 2015 compared to that in the second semester of 2014, reports said Wednesday, July 29, 2015.
Data from the Indonesia Stock Exchange (IDX) revealed that the stock market capitalization stood at 1,261 trillion (US$97 billion) by the end of June 2015, decreasing by 5.25 percent compared to that of Rp 1,313 trillion (US$101 billion) last year.
As a comparison, the stock market capitalization in the financial sector in June 2014 stood at Rp 1,161 trillion (US$89.3 billion), increasing 20.56 percent compared to that of Rp 963.85 trillion (US$74.1 billion) in December 2013.
The stocks comprised those of banking corporation, insurance, financing and security. Currently, there are 87 stock issuers, of which the banking industry has the largest stock market capitalization accounting for 92 percent in the sector.
A research team at PT Henan Putihrai viewed that banking stocks in the first quarter of 2015 were exposed to downside risk, particularly when the lending disbursement did not show a significant improvement. As a result, the industry’s performance in the second quarter of 2015 might be lower than the estimation.
BISNIS.COM