Banks and Multifinance Bonds Led Indonesia Weekly Secondary Flows
Corporate flows were active on last week trading, led by multifinance and banks bonds. Total weekly flows were IDR 3,055 bn, rising from IDR1,778 bn last previous week. Trading frequency was also increasing, almost doubled from 283x last week to 493x. Trading activity last week was skewed to multifinance and banks bonds with a combined trades reaching IDR1,582 bn (52% of total weekly flows). Notable trades were: Adira Dinamika Multi Finance, Tbk (ADMF:IJ) 9.5% 2018, Bank Permata, Tbk (BNLI:IJ) 9.4% 2019 and newly issued Waskita (WSKT:IJ) 10.4% 2018 with a total market volume of IDR 783 bn. Buying interest brought down ADMF 9.5% 2018 yield to 8.69% (-83 bps). While Bank Permata 9.4% 2019 yield widened 12 bps to 10.38%. In addition, buying also seen on the newly issued Waskita i.e. Waskita 10.4% 2018 which traded above its par with yield tightened marginally to 10.32%.
