TEMPO.CO, Jakarta - The Jakarta Composite Index (JCI) closed today's trade, February 23, with a 1.16-percent correction, slipping 54.57 points to 4,654.05. The index's correction was due to pressure from the financial sector that stemmed from the government's plan to limit banks' net interest margins (NIM).
The JCI had opened strong with a 0.14-percent climb, or rising 6.58bps to 4,715.20. The index then moved between 4,628.91 and 4,722.38 throughout the day.
The Indonesia Stock Exchange (IDX) today traded 527 shares with 83 experiencing price gains, 185 weakened, and 259 unchanged.
"The negative sentiment from the government's plan to limit net interest margin (NIM) has not subsided. [Investors] are still waiting for further explanation from the Financial Services Authority (OJK)," Purwoko Sartono, an analyst with Panin Sekuritas told Bisnis Indonesia Tuesday, February 23, 2016.
The sentiment prompted foreign investors to continue with yesterday's panic selling; letting go mainly blue chip stocks like Bank Rakyat Indonesia Tbk (BBRI) that fell 3.42 percent and becoming the index's heaviest weight for today.
The JCI's downfall was suspended by PT Telekomunikasi Indonesia Tbk. (TLKM) that rose 1.26 percent.
According to the IDX, foreign investors sold 686.74 billion units of shares worth Rp2.32 trillion. However, today's foreign buy value amounted to Rp2.77 trillion, allowing the bourse to record a net buy of Rp451.24 billion.
Today's transaction value totaled at Rp6.08 trillion with 4.80 billion units of shares traded. With today's earnings, the IDX's year-to-date net buy value reached Rp1.74 trillion.
BISNIS.COM
