The Composite Stock Price Index (IHSG) opened corrected in early trading Friday (11/2/2022) this morning. Meanwhile, foreign investors continued to record net buying.
Based on Bloomberg data, at 09.01 WIB, the IHSG opened trading by weakening 0.10 percent or 6.83 points to 6,816.80. In detail, a total of 145 stocks rose, 117 red stocks, and 241 stocks stagnated.
The latest news also shows that foreign investors have begun to record net foreign buys of Rp. 53.14 billion. Interestingly, foreign investors were also recorded to buy shares of PT Telkom Indonesia (Persero) Tbk (TLKM) for Rp. 82.5 billion, or the most so far, and made the stock rose 1.79 percent, or 80 points, to 4540.
The next increase was followed by PT Bank Mandiri (Persero) Tbk. (BMRI) worth Rp. 8.8 billion and PT Indofood CBP Sukses Makmur Tbk.n (ICBP) of Rp. 3.6 billion.
Furthermore, the shares of PT Net Visi Media Tbk. (NETV) became the top gainers at the beginning of the session after rising 9.81 percent to the position of Rp. 470. Then, it was followed by PT Indonesia Transport & Infrastructure Tbk. (IATA) which rose 6.1 percent.
Director of MNC Asset Management Edwin Sebayang explained the potential for further profit-taking in today’s trading.
He explained that the release of the latest US inflation data grew 7.5 percent, higher than the previous estimate of 7.2 percent. The biggest increase in inflation since 1982 pushed the yield on the 10-year US bond up to 2.043 percent, even the two-year US bond yield rose to 1.609 percent.
Looking at the circulating data, the Fed is expected to be more aggressive in raising interest rates than before. This will result in negative sentiment driving the fall of the DJIA Index down by 1.47 percent.
“If combined with the 0.1 percent EIDO decline and the fall in the prices of several commodities such as coal, CPO has the potential to become a negative sentiment for trading on the Indonesia Stock Exchange,” he said, Friday (11/2/2022).
Edwin estimates the JCI movement range today is between 6,755 to 6,851. Meanwhile, buy recommendations are pinned on the following stocks, including INCO, LPPF, ANTM, MAPI, MEDC, ISAT, BBNI, TOWR, JPFA, and BRPT.
 opened corrected in early trading Friday (11/2/2022) this morning. Meanwhile, foreign investors continued to record net buying.){kind=link}