Search:
Sunday, Apr-26 2015 13:15 WIB
  • AGRI 2,134.000 -71.640 (-3.248%)
  • BASIC-IND 474.060 -1.540 (-0.324%)
  • BISNIS-27 473.180 -0.500 (-0.106%)
  • COMPOSITE 5,435.350 -0.860 (-0.016%)
  • CONSUMER 2,403.580 38.580 (1.631%)
  • DBX 719.850 -4.410 (-0.609%)
  • FINANCE 807.880 -5.190 (-0.638%)
  • IDX30 492.000 1.040 (0.212%)
  • INFOBANK15 625.740 -4.280 (-0.679%)
  • INFRASTRUC 1,088.320 2.950 (0.272%)
  • Investor33 390.780 -1.070 (-0.273%)
  • ISSI 172.560 0.460 (0.267%)
  • JII 723.290 4.440 (0.618%)
  • KOMPAS100 1,197.130 1.520 (0.127%)
  • LQ45 950.480 1.640 (0.173%)
  • MANUFACTUR 1,369.980 9.400 (0.691%)
  • MBX 1,575.080 0.970 (0.062%)
  • MINING 1,248.830 0.670 (0.054%)
  • MISC-IND 1,353.250 -4.290 (-0.316%)
  • MNC36 298.780 0.190 (0.064%)
  • PEFINDO25 470.310 -3.200 (-0.676%)
  • PROPERTY 575.810 -0.670 (-0.116%)
  • SMinfra18 355.210 0.660 (0.186%)
  • SRI-KEHATI 320.950 0.350 (0.109%)
  • TOTAL_MARKET 5,435.350 -0.860 (-0.016%)
  • TRADE 978.600 1.940 (0.199%)
  • © 2010 IMQ - LKBN ANTARA
  • AALI 22,000 -1,100 (-4.76%)
  • ABBA 50 -2 (-3.85%)
  • ABDA 7,100 50 (0.71%)
  • ABMM 2,765 -50 (-1.78%)
  • ACES 680 -10 (-1.45%)
  • ACST 5,050 60 (1.20%)
  • ADES 1,375 0 (0.00%)
  • ADHI 2,975 -65 (-2.14%)
  • ADMF 6,250 25 (0.40%)
  • ADMG 137 -1 (-0.72%)
  • ADRO 970 -10 (-1.02%)
  • AGRO 97 -1 (-1.02%)
  • AGRS 145 5 (3.57%)
  • AISA 1,770 -10 (-0.56%)
  • AKPI 640 10 (1.59%)
  • AKRA 5,150 -250 (-4.63%)
  • ALDO 725 0 (0.00%)
  • ALMI 231 -15 (-6.10%)
  • AMAG 365 7 (1.96%)
  • AMFG 7,050 0 (0.00%)
  • AMRT 540 5 (0.93%)
  • ANJT 1,000 0 (0.00%)
  • ANTM 865 -5 (-0.57%)
  • APIC 540 0 (0.00%)
  • APLI 82 -5 (-5.75%) © 2010 IMQ - LKBN ANTARA
  • APLN 438 6 (1.39%)
  • ARII 413 -28 (-6.35%)
  • ARNA 535 -125 (-18.94%)
  • ARTA 224 4 (1.82%)
  • ARTI 84 -1 (-1.18%)
  • ASGR 2,200 15 (0.69%)
  • ASII 7,875 -25 (-0.32%)
  • ASJT 294 1 (0.34%)
  • ASMI 740 -5 (-0.67%)
  • ASRI 670 0 (0.00%)
  • ASRM 1,200 -90 (-6.98%)
  • ASSA 147 -7 (-4.55%)
  • ATPK 208 3 (1.46%)
  • AUTO 3,255 10 (0.31%)
  • BABP 93 0 (0.00%)
  • BABP-W 26 0 (0.00%)
  • BACA 223 -2 (-0.89%)
  • BACA-W 130 3 (2.36%)
  • BAJA 205 -1 (-0.49%)
  • BAYU 1,015 20 (2.01%)
  • BBCA 14,900 0 (0.00%)
  • BBKP 710 0 (0.00%)
  • BBNI 6,950 -175 (-2.46%)
  • BBRI 12,950 -100 (-0.77%)
  • BBTN 1,155 0 (0.00%) © 2010 IMQ - LKBN ANTARA
  • BBYB 95 1 (1.06%)
  • BCAP 1,785 -15 (-0.83%)
  • BCIP 770 -10 (-1.28%)
  • BDMN 4,530 -20 (-0.44%)
  • BEKS 89 -1 (-1.11%)
  • BEST 635 25 (4.10%)
  • BFIN 2,700 0 (0.00%)
  • BHIT 284 0 (0.00%)
  • BIPI 98 -1 (-1.01%)
  • BIPP 83 0 (0.00%)
  • BIRD 8,825 25 (0.28%)
  • BISI 1,410 -10 (-0.70%)
  • BJBR 910 -25 (-2.67%)
  • BJTM 490 -15 (-2.97%)
  • BKSL 116 -1 (-0.85%)
  • BKSW 447 89 (24.86%)
  • BMAS 320 29 (9.97%)
  • BMRI 11,900 -100 (-0.83%)
  • BMTR 1,620 65 (4.18%)
  • BNBA 160 0 (0.00%)
  • BNBR 50 0 (0.00%)
  • BNBR-W 1 0 (0.00%)
  • BNGA 695 -95 (-12.03%)
  • BNII 198 0 (0.00%)
  • BNLI 1,620 20 (1.25%) © 2010 IMQ - LKBN ANTARA
  • BORN 50 0 (0.00%)
  • BPII 1,500 90 (6.38%)
  • BRAU 93 -1 (-1.06%)
  • BRMS 145 14 (10.69%)
  • BRNA 660 0 (0.00%)
  • BRPT 278 -3 (-1.07%)
  • BSDE 2,110 -15 (-0.71%)
  • BSIM 402 2 (0.50%)
  • BSIM-W2 147 7 (5.00%)
  • BSWD 3,360 -1,120 (-25.00%)
  • BTEK 1,200 -10 (-0.83%)
  • BTPN 4,020 10 (0.25%)
  • BULL 139 -2 (-1.42%)
  • BUMI 78 1 (1.30%)
  • BUVA 530 0 (0.00%)
  • BVIC 117 -3 (-2.50%)
  • BVIC-W3 25 -1 (-3.85%)
  • BWPT 280 -4 (-1.41%)
  • BYAN 8,025 -25 (-0.31%)
  • CASS 1,300 60 (4.84%)
  • CFIN 404 -1 (-0.25%)
  • CINT 354 9 (2.61%)
  • CKRA 170 9 (5.59%)
  • CLPI 800 0 (0.00%)
  • CMNP 2,470 65 (2.70%) © 2010 IMQ - LKBN ANTARA
  • CNKO 80 -3 (-3.61%)
  • COWL 570 -5 (-0.87%)
  • COWL-W 2 1 (100.00%)
  • CPGT 84 1 (1.20%)
  • CPIN 3,425 0 (0.00%)
  • CPRO 67 1 (1.52%)
  • CSAP 545 -25 (-4.39%)
  • CTRA 1,475 20 (1.37%)
  • CTRP 770 -5 (-0.65%)
  • CTRS 3,025 25 (0.83%)
  • CTTH 71 -3 (-4.05%)
  • DAJK 680 20 (3.03%)
  • DART 785 0 (0.00%)
  • DEWA 50 0 (0.00%)
  • DGIK 142 -1 (-0.70%)
  • DILD 685 5 (0.74%)
  • DLTA 283,500 0 (0.00%)
  • DNAR 145 -2 (-1.36%)
  • DNET 915 -5 (-0.54%)
  • DOID 100 -2 (-1.96%)
  • DSFI 113 -2 (-1.74%)
  • DSNG 4,630 -95 (-2.01%)
  • DYAN 81 -2 (-2.41%)
  • ECII 1,125 -5 (-0.44%)
  • EKAD 492 -2 (-0.40%) © 2010 IMQ - LKBN ANTARA
  • ELSA 585 0 (0.00%)
  • ELTY 50 0 (0.00%)
  • EMDE 90 1 (1.12%)
  • ENRG 80 1 (1.27%)
  • EPMT 3,000 0 (0.00%)
  • ERAA 825 5 (0.61%)
  • ERTX 935 25 (2.75%)
  • ESSA 2,200 0 (0.00%)
  • ETWA 158 0 (0.00%)
  • EXCL 4,405 65 (1.50%)
  • FASW 1,545 -10 (-0.64%)
  • FISH 1,700 -100 (-5.56%)
  • FMII 450 0 (0.00%)
  • FORU 720 20 (2.86%)
  • FREN 75 -1 (-1.32%)
  • FREN-W 40 -1 (-2.44%)
  • GAMA 50 0 (0.00%)
  • GDST 68 -2 (-2.86%)
  • GEMA 312 1 (0.32%)
  • GEMS 1,800 -30 (-1.64%)
  • GGRM 54,500 1,400 (2.64%)
  • GIAA 585 -5 (-0.85%)
  • GJTL 1,200 -35 (-2.83%)
  • GLOB 1,140 40 (3.64%)
  • GOLL 162 0 (0.00%) © 2010 IMQ - LKBN ANTARA
  • GOLL-W 30 0 (0.00%)
  • GPRA 275 5 (1.85%)
  • GREN 179 -1 (-0.56%)
  • GSMF 104 -1 (-0.95%)
  • GWSA 171 0 (0.00%)
  • GZCO 114 0 (0.00%)
  • HADE 51 1 (2.00%)
  • HDTX 605 25 (4.31%)
  • HERO 1,920 0 (0.00%)
  • HEXA 3,300 0 (0.00%)
  • HITS 710 0 (0.00%)
  • HMSP 74,000 0 (0.00%)
  • HOME 201 1 (0.50%)
  • HOTL 125 -8 (-6.02%)
  • HOTL-W 16 -1 (-5.88%)
  • HRUM 1,280 0 (0.00%)
  • IATA 77 1 (1.32%)
  • IBFN 341 1 (0.29%)
  • IBST 3,090 90 (3.00%)
  • ICBP 14,100 0 (0.00%)
  • IGAR 280 3 (1.08%)
  • IIKP 2,250 -745 (-24.87%)
  • IKBI 1,085 -5 (-0.46%)
  • IMPC 8,050 25 (0.31%)
  • INAF 277 0 (0.00%) © 2010 IMQ - LKBN ANTARA
  • INCI 245 0 (0.00%)
  • INCO 2,725 40 (1.49%)
  • INDF 7,375 -25 (-0.34%)
  • INDS 1,315 -35 (-2.59%)
  • INDX 434 3 (0.70%)
  • INDY 350 0 (0.00%)
  • INKP 975 -5 (-0.51%)
  • INPC 78 0 (0.00%)
  • INTA 255 -2 (-0.78%)
  • INTP 23,325 125 (0.54%)
  • IPOL 103 0 (0.00%)
  • ISAT 4,055 -30 (-0.73%)
  • ISSP 193 -3 (-1.53%)
  • ITMG 14,725 150 (1.03%)
  • JAWA 331 -1 (-0.30%)
  • JIHD 950 70 (7.95%)
  • JKSW 88 -2 (-2.22%)
  • JPFA 620 -15 (-2.36%)
  • JPRS 205 -4 (-1.91%)
  • JSMR 6,875 -25 (-0.36%)
  • KAEF 1,190 10 (0.85%)
  • KARW 500 15 (3.09%)
  • KBLI 137 1 (0.74%)
  • KBLM 144 1 (0.70%)
  • KBLV 2,290 -10 (-0.43%) © 2010 IMQ - LKBN ANTARA
  • KBRI 53 0 (0.00%)
  • KBRI-W 1 0 (0.00%)
  • KDSI 400 -3 (-0.74%)
  • KIAS 120 1 (0.84%)
  • KICI 269 9 (3.46%)
  • KIJA 307 -3 (-0.97%)
  • KKGI 980 -5 (-0.51%)
  • KLBF 1,905 15 (0.79%)
  • KOIN 340 0 (0.00%)
  • KPIG 1,295 0 (0.00%)
  • KRAH 1,090 10 (0.93%)
  • KRAS 392 -1 (-0.25%)
  • KREN 535 -5 (-0.93%)
  • LAMI 286 3 (1.06%)
  • LAPD 50 0 (0.00%)
  • LCGP 565 0 (0.00%)
  • LEAD 1,410 5 (0.36%)
  • LINK 5,800 0 (0.00%)
  • LION 8,750 250 (2.94%)
  • LMPI 162 -8 (-4.71%)
  • LMSH 8,550 675 (8.57%)
  • LPCK 12,125 200 (1.68%)
  • LPKR 1,315 -10 (-0.75%)
  • LPLI 660 0 (0.00%)
  • LPPF 18,325 125 (0.69%) © 2010 IMQ - LKBN ANTARA
  • LPPS 222 -4 (-1.77%)
  • LRNA 146 1 (0.69%)
  • LRNA-W 36 2 (5.88%)
  • LSIP 1,520 -10 (-0.65%)
  • LTLS 705 5 (0.71%)
  • MAGP-W 7 0 (0.00%)
  • MAIN 1,540 -40 (-2.53%)
  • MAMI 50 0 (0.00%)
  • MAPI 5,600 50 (0.90%)
  • MASA 330 10 (3.12%)
  • MAYA 1,540 0 (0.00%)
  • MBAP 1,290 0 (0.00%)
  • MBSS 960 10 (1.05%)
  • MBTO 153 0 (0.00%)
  • MCOR 276 5 (1.85%)
  • MDIA 3,750 0 (0.00%)
  • MDLN 565 5 (0.89%)
  • MDRN 447 -1 (-0.22%)
  • MEDC 3,100 10 (0.32%)
  • META 178 0 (0.00%)
  • META-W 157 12 (8.28%)
  • MFIN 960 0 (0.00%)
  • MGNA-W 32 0 (0.00%)
  • MICE 336 0 (0.00%)
  • MIKA 25,350 -250 (-0.98%) © 2010 IMQ - LKBN ANTARA
  • MIRA 50 0 (0.00%)
  • MLBI 9,625 25 (0.26%)
  • MLIA 630 -10 (-1.56%)
  • MLPL 810 -30 (-3.57%)
  • MLPT 1,045 0 (0.00%)
  • MNCN 2,440 25 (1.04%)
  • MPMX 770 -20 (-2.53%)
  • MPPA 3,805 50 (1.33%)
  • MRAT 289 0 (0.00%)
  • MSKY 1,560 60 (4.00%)
  • MTDL 770 0 (0.00%)
  • MTFN 263 -8 (-2.95%)
  • MTLA 420 -5 (-1.18%)
  • MYOH 491 -2 (-0.41%)
  • MYOR 25,900 0 (0.00%)
  • MYRX 730 5 (0.69%)
  • MYRXP 58 0 (0.00%)
  • MYTX 100 -5 (-4.76%)
  • NAGA 128 0 (0.00%)
  • NIKL 97 0 (0.00%)
  • NIPS 615 5 (0.82%)
  • NIRO 206 0 (0.00%)
  • NOBU 790 0 (0.00%)
  • NRCA 1,130 -20 (-1.74%)
  • NRCA-W 210 -38 (-15.32%) © 2010 IMQ - LKBN ANTARA
  • PADI 650 50 (8.33%)
  • PANR 535 5 (0.94%)
  • PANS 5,150 25 (0.49%)
  • PBRX 474 5 (1.07%)
  • PEGE 209 0 (0.00%)
  • PGAS 4,640 -60 (-1.28%)
  • PGLI 68 3 (4.62%)
  • PJAA 2,350 -50 (-2.08%)
  • PKPK 63 -4 (-5.97%)
  • PLAS 1,575 -5 (-0.32%)
  • PLIN 3,450 -45 (-1.29%)
  • PNBN 1,280 -20 (-1.54%)
  • PNBS 252 1 (0.40%)
  • PNBS-W 142 3 (2.16%)
  • PNIN 835 -5 (-0.60%)
  • PNLF 322 -1 (-0.31%)
  • POLY 61 -3 (-4.69%)
  • PRAS 188 0 (0.00%)
  • PSAB 715 0 (0.00%)
  • PSDN 106 -19 (-15.20%)
  • PSKT 800 5 (0.63%)
  • PTBA 10,525 125 (1.20%)
  • PTIS 820 90 (12.33%)
  • PTPP 4,020 0 (0.00%)
  • PTRO 760 0 (0.00%) © 2010 IMQ - LKBN ANTARA
  • PTSN 95 -5 (-5.00%)
  • PTSP 7,600 50 (0.66%)
  • PWON 500 -10 (-1.96%)
  • PYFA 124 -1 (-0.80%)
  • R-LQ45X 973 6 (0.62%)
  • RAJA 1,300 -15 (-1.14%)
  • RALS 810 -15 (-1.82%)
  • RANC 355 -6 (-1.66%)
  • RBMS 84 2 (2.44%)
  • RICY 167 -2 (-1.18%)
  • RIGS 220 18 (8.91%)
  • RMBA 595 25 (4.39%)
  • ROTI 1,150 15 (1.32%)
  • RUIS 229 2 (0.88%)
  • SAME 3,050 0 (0.00%)
  • SCMA 3,300 10 (0.30%)
  • SDMU 297 -3 (-1.00%)
  • SDPC 82 -1 (-1.20%)
  • SGRO 1,870 -5 (-0.27%)
  • SHID 398 -1 (-0.25%)
  • SIAP 264 -5 (-1.86%)
  • SIDO 500 0 (0.00%)
  • SILO 14,025 500 (3.70%)
  • SIMP 675 -5 (-0.74%)
  • SIPD 740 -35 (-4.52%) © 2010 IMQ - LKBN ANTARA
  • SMBR 343 -1 (-0.29%)
  • SMCB 1,555 5 (0.32%)
  • SMDR 9,700 250 (2.65%)
  • SMGR 13,525 -25 (-0.18%)
  • SMMT 1,970 -25 (-1.25%)
  • SMRA 1,930 10 (0.52%)
  • SMRU 342 1 (0.29%)
  • SMSM 4,560 -240 (-5.00%)
  • SOCI 570 5 (0.88%)
  • SPMA 197 3 (1.55%)
  • SRAJ 212 -1 (-0.47%)
  • SRIL 277 4 (1.47%)
  • SRSN 50 0 (0.00%)
  • SRTG 4,800 -10 (-0.21%)
  • SSIA 1,220 5 (0.41%)
  • SSMS 2,140 -10 (-0.47%)
  • SSTM 84 -5 (-5.62%)
  • STAR 50 0 (0.00%)
  • SUGI 392 -1 (-0.25%)
  • SULI 62 0 (0.00%)
  • SUPR 10,000 -650 (-6.10%)
  • TARA 498 1 (0.20%)
  • TAXI 1,095 20 (1.86%)
  • TBIG 9,050 -350 (-3.72%)
  • TBLA 585 -20 (-3.31%) © 2010 IMQ - LKBN ANTARA
  • TELE 965 -5 (-0.52%)
  • TIFA 206 0 (0.00%)
  • TINS 895 0 (0.00%)
  • TIRT 73 -1 (-1.35%)
  • TKIM 795 0 (0.00%)
  • TLKM 2,905 50 (1.75%)
  • TMAS 1,690 -5 (-0.29%)
  • TMPI 456 -1 (-0.22%)
  • TMPI-W 2 1 (100.00%)
  • TMPO 115 1 (0.88%)
  • TOBA 835 -10 (-1.18%)
  • TOTL 975 10 (1.04%)
  • TOTO 3,920 -80 (-2.00%)
  • TOWR 4,000 0 (0.00%)
  • TPIA 3,000 0 (0.00%)
  • TPMA 338 -2 (-0.59%)
  • TRAM 56 -1 (-1.75%)
  • TRIL 50 0 (0.00%)
  • TRIS 364 3 (0.83%)
  • TRST 320 4 (1.27%)
  • TSPC 2,090 -15 (-0.71%)
  • TURI 740 5 (0.68%)
  • ULTJ 3,885 -110 (-2.75%)
  • UNSP 50 0 (0.00%)
  • UNTR 23,075 100 (0.44%) © 2010 IMQ - LKBN ANTARA
  • UNVR 43,000 1,250 (2.99%)
  • VICO-W 13 0 (0.00%)
  • VIVA 487 -2 (-0.41%)
  • VRNA 184 0 (0.00%)
  • WAPO 78 0 (0.00%)
  • WEHA 234 0 (0.00%)
  • WICO 70 1 (1.45%)
  • WIIM 494 0 (0.00%)
  • WIKA 3,510 -20 (-0.57%)
  • WINS 500 1 (0.20%)
  • WOMF 114 0 (0.00%)
  • WSKT 1,785 -5 (-0.28%)
  • WTON 1,200 0 (0.00%)
  • XCID 97 0 (0.00%)
  • XIIF 595 3 (0.51%)
  • XISI 363 1 (0.28%)
  • ZBRA 178 8 (4.71%)
BBM Bersubsidi Naik, Pasar Modal Slow Down Sejenak
Published: 28 Mar 2012 14:50 WIB


IMQ, Jakarta —  Rencana pemerintah untuk menaikkan harga BBM eceran bersubsidi pada awal April 2012 akan direspon dengan “guncangan kecil” di pasar modal.

Para pelaku dan analis pasar modal menilai kebijakan kenaikan harga BBM tersebut dinilai rasional dan dapat dipahami pelaku bisnis. Secara umum, pergerakan IHSG juga sudah berdapatasi dengan kebijakan fiskal tersebut sehingga harga-harga ekuitas juga dianggap “priced in” dengan dampak inflasi yang akan ditimbulkan.

Besaran kenaikan harga BBM sebesar Rp1.500 atau sekitar 33,33% tersebut dinilai cukup wajar dan rasional serta sesuai dengan ekspektasi pasar. Dengan kenaikan sebesar itu, pasar menilai para emiten hanya tertekan kinerjanya karena inflasi dalam periode relatif singkat.

Kenaikan BBM sebesar Rp1.500 tersebut diprediksi mendorong inflasi sekitar 1,3-1,5% pada Maret, karena harga kebutuhan pokok sudah merangkak naik sekalipun faktanya kenaikan BBM masih diperdebatkan di DPR. Dorongan inflasi masih akan terjadi hingga April-Mei. Pemerintah sendiri menargetkan inflasi year-on-year hingga akhir tahun sebesar 5,4% plus minus 1%.

Akibat kenaikan inflasi akan mendorong otoritas moneter BI untuk mengubah BI rate di atas 5,75%. Jika ini terjadi tentu akan menekan kinerja emiten saham dan akan membuat pasar merespons negatif. Perbankan akan cenderung meningkatkan cost of debt kepada emiten sehingga akan menekan net profit-nya sehingga EPS turun.

Di sisi lain, emiten yang memiliki obligasi dengan floating rate juga akan terkena dampaknya. Jadi kestabilan pasar modal 2012 akan lebih ditentukan oleh kebijakan moneter BI.

Kenaikan inflasi tersebut dinilai tidak berdampak signifikan terhadap kinerja ekonomi nasional yang cukup solid terutama karena permintaan domestik dan ekspor komoditas RI relatif stabil dan cukup kuat.

Selain itu, prospek pertumbuhan infrastruktur pada 2012 juga akan menopang pertumbuhan ekonomi nasional. Jadi secara umum, guncangan kenaikan BBM tersebut dapat diredam oleh indikator-indikator makro yang kuat.

Namun jika kenaikan di atas Rp1.500, tampaknya ada resistensi yang kuat dari pasar karena akan menimbulkan tekanan fundamental emiten BEI. Beberapa sektor yang akan berpotensi tertekan untuk sementara saja, seperti sektor konsumer, automotif, properti dan jasa keuangan.

Hal yang lebih mencemaskan pelaku pasar justru jika kenaikan BBM tertunda atau bahkan dibatalkan sama sekali karena akan menimbulkan risiko fiskal yang lebih besar ketimbang BBM dinaikkan. Pasar menilai defisit fiskal yang akan terjadi lebih berisiko dan merugikan perekonomian nasional.

Sejalan dengan analisis tersebut, para investor asing pun cenderung mendukung kenaikan BBM dengan besaran tersebut dari pada mengambil risiko defisit fiskal di atas 3-4%.

Saat ini, ekonomi global sudah menunjukkan pemulihan di jalur positif terutama AS (The Fed) yang berhasil melakukan kebijakan moneter untuk penciptaan lapangan kerja mulai menunjukkan hasil. Meskipun UE masih terbelit masalah imbalances fiskal, namun beberapa upaya Bank Sentral Eropa dan IMF mulai menunjukkan hasil positif. Kondisi global ke depan diprediksi akan memberikan tenaga tambahan bagi IHSG hingga 4.600 di akhir tahun.
Author: Perdana Wahyu Sentosa
-
POPULAR NEWS