00:00We will now look at the Spotlight market on Monday, 24th of March, 2025.
00:09It is related to the closing of the trading session 2 yesterday.
00:12ESG fell by 2% to 6,258 levels, the lowest in Asia.
00:19And the BBC fell by 5.6% after the payment of dividends on Monday.
00:25Then the technology led the sectoral weakness, the DCII stock fell by 8.8% to level 152,025.
00:33The economic agenda is from Singapore, there is data on the IHK Inti year-on-year in February.
00:38And also from Malaysia, there is a deficit savings.
00:41Malaysia is in the US dollar.
00:43Then also from the emittance agenda, BBCA, DPS Dividend Tonight, Bufa, CNMA, Temas, and Merck will hold the RUPS.
00:55And next, we will look at the opening of the Asian Stock Exchange this morning.
00:59As you can see on the television screen, a preview of the opening of the Asian Stock Exchange.
01:11Asian Stock Exchange.
01:13Asian Stock Exchange.
01:21For the Asian Stock Exchange this morning, it opened mixed with Nikkei.
01:25It opened 0.21% at level 37,757.
01:29SEI Singapore opened 0.11% at level 3,922.
01:34And Kospikore opened 0.15% at level 2,647.
01:39And Hang Seng Hongkong opened 0.25% at level 23,749.
01:51And for our discussion this morning, we are already in contact with Mr. Raden Bagus Bima, the founder of WarCop Stock.
01:57Good morning, Mr. Bima.
02:00Good morning.
02:02Thank you, Mr. Bima, for joining us this morning on MarketBus.
02:05Have you bought the stock yet?
02:06Not yet.
02:08Okay.
02:09Just like the journalists at IDX Channel, we haven't bought it yet.
02:12Because we will be on holiday on the 29th, this Saturday.
02:16Okay.
02:17Mr. Bima, while waiting for the buyers and maybe for some of you who are still waiting for the liquid THR,
02:23if we look at the movement of ESG, last week the market cap was discounted significantly weekly.
02:31And if we talk about the decline of the market cap,
02:35the market cap is identical to the capital outflow from ASIC that did the net sale.
02:39And of course, this is related to the selling of big caps.
02:45BBCA, one of them, experienced a significant gain.
02:47The classic question is, is this the right moment for us to enter, Mr. Bima?
02:56Yes, I think if the question is related to whether we can enter or not,
03:01I think we can take advantage of this moment.
03:04Because as we know, the decline of ESG started from the beginning of last week, on Tuesday,
03:11where ESG fell to minus 5%.
03:14Then it was closed at the end of the week, on Friday, there was a FTSE rebalancing.
03:20So I think these are some sentiments that were accumulated in the last week.
03:28So I think this week, hopefully, the negative sentiment will not continue.
03:33And if we look at it yesterday, there were quite a few big cap stocks that experienced a correction at the last minute,
03:39on Friday yesterday, because there was a FTSE rebalancing,
03:42including, for example, in BBCA and others,
03:46the rebalancing value of the net sale was up to 1 trillion.
03:50And it's not just in one stock, it's in several stocks.
03:54So I think we can take advantage of this moment,
03:57so we can take the opportunity for technical rebounds, especially at the beginning of the week.
04:04Fundamentally, is there anything to worry about, Mr. Bima, in your opinion?
04:10Or is this just technical, because you are projecting that there will be rebounds in the week leading up to Eid?
04:17Yes, I think fundamentally, we should still be quite confident.
04:22As far as we know, when we took at least only in the ME10,
04:27but in our regulator, when yesterday's IHSG was minus 5%,
04:31the next day we held a press conference,
04:35exposing several policies.
04:37This means that although our market conditions have dropped,
04:41but we are still getting attention from regulators.
04:48Then if we look at the ME10,
04:50like some big caps that still have a stock that is still quite large,
04:56even though there is a decrease.
04:57But we see, for example, in the BBCA stock,
04:59which has been growing very well for the past two months.
05:03So I think the drop in the price of the stock,
05:06we will continue to see the rise in the financial report, which is still growing.
05:12So I think this could be an opportunity for us to accumulate in the big caps,
05:18of course, those who still have a positive stock.
05:21Okay, if we dig from the POV or maybe the point of view of the market itself,
05:26if we look at some of the past times,
05:28there are statements that are more or less vague,
05:31related to the capital market in Indonesia.
05:33How is this then enough to point to a conclusion,
05:38related to the concern or maybe the attention of the government itself to the capital market in Indonesia?
05:44And what should the government actually learn from the reaction that happened yesterday, Mr. Habib?
05:54Yes, we can't deny that.
05:56It didn't just happen last week,
05:58it has been happening since the end of the year in 2024.
06:02So indeed, the role of the government in the movement of IHSG is very important.
06:10We feel how investors, both local and foreign,
06:19really see and appreciate everything related to stock investment,
06:27which is conveyed by the government.
06:29This is how we can see the sensitivity of our current investors
06:33to whatever is conveyed by the government,
06:36whether by the ministry or even by the president.
06:40Even the smallest things are of great concern at least for now.
06:45So in my opinion, what the government is conveying right now is very much awaited by our investors.
06:51This is very much formed by itself,
06:56that the market wants policies,
07:01which may have been said yesterday,
07:04related to buyback without being dominated by the European Union.
07:08This is one of the positive signals,
07:10but it's not enough there.
07:12Investors want something that can reassure foreign investors.
07:17Because no matter what, the portion of foreign investors coming out,
07:21as mentioned earlier, is already relatively large.
07:25Okay. Net Forensics yesterday didn't show foreign investors, are you sure?
07:31Yes, of course.
07:33Yes, of course, foreign investors do sales,
07:38not even just last week.
07:39If we take it much longer, from the beginning of the year,
07:43of course, this should be a serious concern.
07:47Especially if we know that this is not just one or two issues.
07:54This is also related to what was said yesterday,
07:57related to the decrease in state income,
07:59then how our rupee value is now quite comfortable at 16,500,
08:04even though this is a very high level,
08:06which should be a very important concern for investors.
08:10Yes, I think we all agree with what happened at ISG,
08:14or maybe a very volatile fluctuation at ISG.
08:17This is enough to illustrate or perhaps reflect the investor's outlook,
08:22and also the economic conditions in Indonesia.
08:25So this should be considered by stakeholders,
08:30one of which is the government.
08:33Okay, you said earlier that looking at the potential for the future,
08:36there will be an upside potential.
08:39But if we look at it historically,
08:41let's say on the eve of Eid,
08:43what is the market movement usually like?
08:46And historically, is there always a pattern repetition, Mr. Bima?
08:55Yes, I think it's almost the same every year,
08:58only different during COVID.
09:01Because during COVID, when it entered 2021,
09:04in 2021, it became a market condition.
09:082020 and 2021 became a very crowded condition.
09:13Even though it entered the fasting month,
09:16even before Eid,
09:19the market conditions were very attractive,
09:22and the volume was increasing.
09:25But it didn't happen after that.
09:27After that, in 2023, and also last year, in 2024,
09:31and we can see that this year,
09:34the more sentiment, of course, the stock price movement can be maintained.
09:38As we know, from the beginning of the fasting month this year,
09:44until last week, it was still very crowded.
09:48Information that made the stock price quite crowded.
09:51So if we talk about habits in the fasting month,
09:55it depends on what sentiment there was that year.
09:58Coincidentally, this year, the sentiment is still quite hot,
10:01so the market condition is still quite volatile.
10:04In addition, in this fasting month,
10:07we are still colored with information about buybacks,
10:10and also investors are still afraid of the existence of foreign net sales
10:15that are still continuing, even getting bigger,
10:17like what happened last Friday.
10:19So this will still be,
10:21the condition is still crowded, in my opinion, in the last four days.
10:24Alright, trading this month, if I'm not mistaken,
10:26it's the same as Thursday, right, Mr. Bima?
10:28Yes, that's right.
10:29In terms of investment, we can then pay attention to it.
10:31Alright, in the next segment,
10:32we will start with a little discussion about the BBC,
10:34or maybe the recommendations related to the BBC,
10:36and also the IPO from UP, is it interesting or not, Mr. Bima?
10:39We will continue in the next segment,
10:41and investors, stay with us, we will be right back.
Comments