10 Stocks Collapse Hit by ARB, Beware Half of Coal!


Jakarta, CNBC Indonesia – When the Composite Stock Price Index (JCI) closed in a flat position, aka minus 0.01% at 6,416, it turned out that there were 10 stocks that fell to touch the lower auto rejection limit (ARB) 7% in trading last Thursday (7/07). 10/2021).

Interestingly, half of the 10 shares include coal mining shares.

Trading data showed that the JCI closed down 0.01% to 6,416.396 at the close of the second trading session on Thursday (7/10). The value of trade transactions reached Rp 17.94 trillion with a net foreign buy in the regular market of Rp 2.24 trillion. Meanwhile, foreigners recorded a net sale in the negotiating market and cash market of Rp 619.11 billion.

Shares of the non-cyclical consumer goods sector became the sector that rose the most, amounting to 2.90%. Meanwhile, the energy sector became the ballast, which was minus 3.40%.

There were 220 stocks rising, 289 stocks lower and 150 stocks stagnant.

The following is a list of the top 10 losers stocks that touched the ARB limit on Thursday (7/10).

A Row of 10 Stocks Subject to ARB Thursday (7/10)

1. Adaro (ADRO), shares -6.97%, to Rp 1,735, transactions Rp 742.6 B, week -1.42%

2. Indika (INDY), -6.94%, to Rp 2,010, transactions Rp 162.6 billion, a week +5.79%

3. Matahari Putra (MPPA), -6.94%, to Rp. 805, transactions of Rp. 6.7 billion, a week -20.30%

4. Eagle High (BWPT), -6.93%, to Rp. 94, transaction of Rp. 30.7 billion, a week +11%

5. Indo Tambangraya (ITMG), -6.92%, to Rp. 23,875, transactions of Rp. 222.0 B, a week +15%

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6. Delta Dunia (DOID), -6.90%, to IDR 324, transactions IDR 46.1 billion, a week -1.82%

7. DMS Propertindo (KOTA), -6.75%, to Rp. 152, transactions of Rp. 39.4 B, a week +0.66%

8. Multipolar (MLPL), -6.67%, to Rp. 448, transactions of Rp. 135.1 B, a week -21.40%

9. Medco Energi (MEDC), -6.56%, to IDR 570, transactions IDR 61.7 billion, a week +4%

10. Bumi Resources (BUMI), -6.52%, to Rp. 86, transactions of Rp. 19.8 billion, a week +30.30%

Based on the data above, there were 5 coal stocks that collapsed to ARB, namely ADRO, INDY, ITMG, and BUMI.

Then, there is one palm oil issuer, the Rajawali Group and Malaysian BUMN Felda BWPT, the Lippo Group duo MPPA and MLPL, one KOTA property issuer, and the rest are oil and gas issuers belonging to the Panigoro MEDC family.

Coal stocks dominate the list above. ADRO shares, for example, fell 6.97% to Rp 1,735/share, INDY shares fell 6.94%, and ITMG shares fell 6.92%.

Photo: Gainers-Losers October 7, 2021, BEI
Gainers-Losers October 7, 2021, BEI

The weakening of coal stocks occurred in line with profit-taking after these stocks recently experienced an upward trend in the midst of a surge in coal commodity prices which had penetrated US$ 280/ton.

Last Wednesday, the price of coal on the ICE Newcastle (Australia) market was recorded at US$ 236/ton, a drop of 15.71% compared to the previous day.

Naturally, coal prices have gone up for 10 consecutive days. During those 10 days, the increase reached 57.04%.

Although last Thursday fell, but in the last week, coal prices still posted a 37.95% increase on a point-to-point basis. During the past month, the increase reached 32.32%.

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Since the end of 2020 (year-to-date), the price of this commodity has skyrocketed by 188.68%. It seems that no other commodity has experienced a price increase as sharp as coal.

BWPT shares were also hit by 6.93% ARB, after rising in the last 2 days. Like coal stocks, palm oil issuers are also bustling down today in line with profit-taking after the surge in the last few days.

Then, MPPA shares slumped to ARB 6.94% to Rp 805/share. With this, MPPA shares have fallen for 5 consecutive days, with 3 of them touching the ARB.

For three dollars, MLPL’s shares also penetrated the ARB 6.67% to Rp 448/share. MLPL shares have been immersed in the red zone for 5 consecutive days, 3 of which have fallen by more than 6%.

The weakening occurred when PT Application Karya Anak Bangsa aka Gojek officially held a 6.74% stake in MPPA after buying it from MLPL on 4 October.

Previously, Gojek purchased 507,142,900 MPPA shares from Multipolar at a price of Rp 700/share, equivalent to 6.74%.

CNBC INDONESIA RESEARCH TEAM

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