Wall Street Turun, Volume Perdagangan Relatif Ringan
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00:00The next episode is about the economic agenda.
00:09There is data about the IHK Vietnam in August,
00:13and the Vietnam trade crisis in August.
00:16From the United States, there is data about the unemployment claim.
00:20From Europe, there is data about the total number of unemployed in France.
00:24Meanwhile, there is data about the EMITEN agenda.
00:29For the EMITEN agenda, there are BTPN, CBPE, and BINO.
00:34Meanwhile, there is data for DPII, KUM, Dividend, and Tonight.
00:39Next, we will look at the opening of the main Asian exchanges this morning.
00:44As you can see on the screen for the main Asian exchanges,
00:47this morning, Compaq opened weak,
00:50with Nikkei opened weak 0.38% at level 38,224.
00:55STI Singapore opened weak 0.21% at level 3,384.
01:00KOSPI Korea opened weak 0.86% at level 2,666.
01:04And Hang Seng Hong Kong opened weak 1.02%.
01:17To discuss this morning on Marketbuzz,
01:19we have contacted Mr. Chandra Pasaribu,
01:21Head of Research Analyst PT Yuanta Securities Indonesia.
01:24Good morning, Mr. Chandra.
01:26Good morning.
01:28Thank you for joining us on Marketbuzz.
01:31May we all be healthy, Mr. Chandra.
01:33Amen.
01:34Mr. Chandra, talking about the movement of IHSG,
01:37it broke the record again.
01:39Even IHSG has set the highest record,
01:4212 times in a row since the beginning of this year.
01:47What is the main trigger?
01:50Actually, especially from the FED rate,
01:53because now there is an explanation,
01:55the market calculation even has 50 basis points of expectation.
02:01So, the decline in September,
02:04September itself should be 25,
02:07but there is speculation that it can be 50.
02:09But for 2024, it looks like maybe 50 basis points of decline in FED,
02:15the likelihood is quite high.
02:17That is the main trigger.
02:19If we look at the domestic sentiment,
02:21especially for the incentive in the property sector,
02:23and also the trend regarding the Acuan flower tribe from Bank Indonesia,
02:29that has been prepared to enter the era of the low flower tribe.
02:34At the same time, this is also a booster for the property or real estate sector,
02:41so that it supports and also supports the breakthrough of IHSG to the latest record in the last election.
02:47Yes, in essence, with a lower flower rate,
02:50it will actually support the entire sector.
02:54So, it's not just limited to the property sector.
02:57Because basically, with a low flower rate,
02:59the financing cost or the investment fee will be cheaper.
03:03And of course, it will induce further growth in the entire sector.
03:10For the property sector itself,
03:13if I look at it, maybe there is a little bit of hype.
03:18Because to be honest, actually the PPN review,
03:21the regulation has been implemented and then extended.
03:26So, even from a few months ago,
03:29when the PPN review was there,
03:32the property sector actually enjoyed the incentive.
03:36So, maybe there was a little bit of additional boost when the flower rate dropped.
03:42But it must be remembered that the purchase of the property was not done simultaneously.
03:47So, people buy a house with a rather long consideration.
03:51Not simultaneously.
03:52Look, the PPN is free, the flower rate drops, I'll buy a house tomorrow.
03:55No, the decision is not like that.
03:57Okay.
03:58Except for those who have been waiting for these incentive moments,
04:01it has been done.
04:03It has been prepared for a long time to enter and buy property.
04:06Speaking of the movement from summer basis property,
04:08BSD and also CTRA, yesterday it rose above 5%.
04:11It means that even if you jump into this sentiment,
04:14for the property sector,
04:16in your opinion, is it still interesting enough or not?
04:19Or is it too expensive, Mr. Candra?
04:22If you look at the fundamentals,
04:25maybe the upside is relatively limited.
04:27Because back then,
04:29the PPN incentive was actually already in place,
04:33only extended.
04:35But in terms of market momentum,
04:38maybe it will still be positive
04:40because there is a flower rate drop.
04:42But I think in terms of earnings,
04:45maybe the impact is not too immediate.
04:47And not too significant.
04:49Although, if you look at the market momentum,
04:52it's actually a bit positive.
04:54Okay.
04:55Breaking the ISG record for the 12th time since the beginning of this year,
04:59does this change the target from you?
05:03Mr. Candra, related to the ISG,
05:05for the short and medium term?
05:09To be honest, we have been consistent since the beginning of the year.
05:12So, at 7,600,
05:13coincidentally now it has touched up.
05:15If we look back in terms of market momentum,
05:19actually there is still potential,
05:21maybe it can be pushed at 7,800.
05:24To be honest.
05:25Because we are still waiting for the decline of the FED.
05:27There is still a question mark between 25 and 50.
05:31If it's 50, maybe the earnings can still be more significant.
05:34So, I think maybe towards the end of the year,
05:37maybe at 7,800, there is a fairly high likelihood.
05:40Okay.
05:41It is possible to reach 7,800,
05:44but so far it is still in line with what you projected.
05:48You can be the most optimistic,
05:51you can enter the 7,600 level.
05:53Okay.
05:54If we talk about the transaction value
05:57in Indonesia's capital market,
06:01yesterday this also happened
06:03because there was a stock crossing
06:05that yesterday could pass 100 trillion rupiahs
06:08in a day, in terms of transaction volume.
06:11But since the record,
06:13what is the transaction value trend, Mr. Candra?
06:17Actually, there is a slight increase.
06:20So, indeed at the time,
06:22maybe a month ago,
06:24the turnover market was around 10 to 9 trillion a day.
06:28But recently, with the issue of the FED,
06:31the level of the flowers will be lowered,
06:33foreign participants are actually quite significant.
06:36So, the inflow is quite good.
06:38So, it also supports trading turnover.
06:42But if it's a crossing,
06:44it's usually more strategic.
06:46So, we should look at
06:48maybe more to the ordinary daily transactions.
06:53Because the crossing occurs once in a while.
06:55Okay. Interesting, Mr. Candra.
06:57We will continue in the next segment.
06:59Stay with us, we'll be right back.