Singapore, CNBC Indonesia – Shares of automotive product manufacturers, which are the holding companies of PT Astra International Tbk (ASII), Jardine Cycle & Carriage Limited (JCYC.SI), shot on the Singapore Exchange shortly after the results of rapid calculations (quick count) The Indonesian general elections were announced.
Since 14:00 local time, the JCYC.SI stock price started to rise and eventually managed to close to 4.35% to S $ 35.98 / share. This is the highest daily growth since November 7 last year.
The positive sentiment of the prediction of the victory of pair number 01 Joko Widodo – Ma & # 39; ruf Amin was a motorcycle that raised the share price of the Singapore-based issuer.
result some quick count at 5:00 PM WIB, for example Denny Jaya & # 39; s Indonesian Survey Institute (LSI) with a total vote of 87.60% and a victory for incumbents with 55.11%.
Kedai Kopi with a total vote of 63.45% and recorded a win in pair number 01 with 51.63%.
Jemmy Paul & # 39; s CEO Sucorinvest Asset Management, as quoted by Bloomberg, said that one of Jardine's stock sentiments was the prediction of the Jokowi-Amin pair victory, which in turn would provide a positive picture for the automotive sector, in particular Jardine's subsidiary in Indonesia, Astra International.
Jardine has a 50.1% interest in ASII, where the majority (90%) of the company's annual income comes from Astra International, as revealed in the December 2018 financial report.
Paul's prediction is also driven by the assumption that the current win will encourage the continuation of the CSPI (Composite Stock Price Index) rally in the next few days.
JCI is also predicted to have the highest performance in February last year, which is 6,689.29 points.
Jardine is a conglomerate company from Singa that deals with assembly, distribution and sale of motor vehicles, heavy equipment, financial services and information technology.
Jardine Cycle & Carriage was founded in 1899 and is the sixth largest public company in Singapore. Currently, the company has a market capitalization of up to S $ 13.64 billion, which is equivalent to Rp 141.45 trillion (exchange rate of Rp 10.370 / S $).
In addition to Astra, Jardine also has business networks in Indonesia through Mandarin Oriental Hotels and PT Tunas Ridean Tbk (TURI).
RESEARCH TEAM OF CNBC INDONESIA
(dwa / bag)