Supported by Foreign Funds, JCI Returns to Green! Almost 7,000

IDX Composite opened green by 0.48% to 6,951.35 on Wednesday (16/3/2021). IDX Composite continued to rise at 09.20 PM with an appreciation of 0.77% and moved at the level of 6,967.81.

The shares that were bought the most by foreigners were PT Bank Negara Indonesia Tbk (BBNI) and PT Bank Central Asia Tbk (BBCA) with a net buy of Rp38 billion and Rp68 billion, respectively. Meanwhile, the shares most sold by foreigners were shares of PT Merdeka Copper Gold Tbk (MDKA) and PT PP Tbk (PTPP) with a net buy of Rp11 billion and Rp6 billion, respectively.

From abroad, investors will be watching the release of Japan’s trade balance data as of February 2022 at 06.50 AM. The market consensus compiled by Tradingeconomics predicts that the trade balance of the Land of the Rising Sun will still return to a deficit of JPY 112.6 billion.

Meanwhile, in the US, market consensus predicts that US oil stocks will decrease by 0.97 million barrels, from the previous period’s position of 1.86 million barrels. Then, gasoline stocks are also expected to fall by 1.73 million barrels as of March 11, from the previous decline of 1.41 million barrels. This data will also be observed by investors because the level of oil inventories will also affect the price of petroleum products, which in turn can have an impact on inflation.

March 10, 2022, CNBC Indonesia