JAKARTA (Yosefardi) – Foreign investors booked net sell of Rp54.5 billion on Wednesday (Dec 17), narrowing its year-to-date net buy to Rp46.24 trillion.
Investors continued realizing gains in Telkom, Perusahaan Gas Negara, and Unilever.
Telkom dropped 3.5% during this month, but still gained 26.7% year to date. Perusahaan Gas Negara fell 1.3% yesterday but gained 29.6% year to date. While Unilever declined 3.5% this month as it gained 18.1% year to date.
Coal stocks are still laggard. Indo Tambangraya lost 46.5% year to date, Bumi Resources dropped 81%, Bayan Resources shed 21%, and Berau Coal slashed 70.4%. Other laggards are Truba Alam (-81.2%), Bank Internasional Indonesia (-27.2%), Global Mediacom (-24.5%), Indomobil (-32.6%), BW Plantation (-63.6%), and Mayora (-15.7%).
While Rupiah rebounded 0.2% to Rp12,658 agains the US dollar on Wednesday, depreciating 4% year to date. Bank Indonesia has intervened the currency market including buying government bonds worth Rp1.7 trillion.
Bank Indonesia expects the inflation to reach above 2% this month, then year-on- year inflation would also reach above 8%, with impact of fuel price hike and growing consumption ahead of Christmas and New Year.
Asian Development Bank (ADB) cuts its projection for Indonesian economic growth next year to 5.6% from initial projection of 5.8%, as ADB projects lower export contribution for Indonesia economy. ADB also cuts its projection for Indonesia economic growth this year to 5.1% from initial 5.3%.