Akakarta, CNBC Indonesia – Financial markets are differing this week, with market players receiving a negative mood from a country where cases of coronavirus (Covid-19) disease have hit record highs, but the positives are coming from outside.
The Composite Price Index (JCI) continued its rally for 9 consecutive weeks after gaining 0.47% to 5,810.4483 During that period, the total JCI increased by almost 18% and was at its highest level since February.
Although it managed to gain a foothold, foreign investors achieved net sales of almost 4 trillion rankings last week.
Meanwhile, the rupee exchange rate weakened 0.11% against the US dollar from 14,085 Rp / US $ this week, ending its never weakening performance in the last 9 weeks. Details, strengthened for 8 weeks and a week of stagnation.
Subsequently, the majority of bond prices strengthened, as seen from yield-nya who is experiencing a decline. To know, the movement of the yield compared to the best with the price of the bond, when the price increases, the yield will decrease, and vice versa.
Yield The 1-year tenor Government Securities (SBN) increased by 0.4 basis points (bps) to 3.801%, yield other tenors have shrunk. This means that only 1 year the tenor SBN weakened, and the rest strengthened.
Yield SBN tenor in 10 years dropped from 2 bps to 6.198% and is still close to the lowest level since January 2018.
The pressure on the financial markets came after the Covid-19 cases on Sunday (November 29, 2020) set a record increase of 6,267 cases. The record then broke again on Thursday (12.03.2020), the number of new cases was recorded at 8,369 people.
In the last 2 weeks, the average number of cases also increased to 1.03% per day, compared to the previous 2 weeks of 0.92% per day.
The spokesperson of the Working Group for Handling Covid-19, prof. Viku Adisamito even said that additional cases could not be tolerated.
“We can see that we have set new records in the last few days. We have never reached over 5,000 before, but unfortunately the positive cases are increasing, even per day, reaching more than 8,000 cases. This is a very large number and can not be tolerated. “, Said Prof. Viku, at a press conference on Thursday (March 12, 2020).
This jump in cases certainly worries investors if large-scale social constraints (PSBBs) are tightened again, which could hamper the recovery of Indonesia’s economy.
Bad news for the domestic financial market on Monday (12.07.2020) tomorrow, because the cases “Kovid-19” today and yesterday were over 6,000 people.
Based on the data from the Indonesian Ministry of Health, 6,089 new cases were registered on Sunday (June 12, 2020) by 12:00 pm, while yesterday there were 6,020 cases.
As a result, there is a risk that the JCI market, the rupee and the bonds will weaken on Monday.