Quiet Weekly Flows amidst Lackluster Market Sentiment
Last week’s IDR weakness that tumbles back to IDR 13,695/USD coupled with lackluster market sentiment have stirred market participant on the sideline. Trading activities on last week trading were weak with total market volume declined 27% WoW to IDR 2,246bn vs IDR 3,055 bn in the previous week. Meanwhile, trading frequency decreased slightly to 493x to 432x. Most active traded bonds based on trading frequency were; Agung Podomoro Land, Tbk (APLN:IJ) 9.25% 2016, Bumi Serpong Damai, Tbk (BSDE:IJ) 9.5% 2019 and Express Transindo Utama, Tbk (TAXI:IJ) 12.25% 2019 with trading frequency reaching 13-20x. Selling drove APLN 9.25% 2016 yield widening to 12.29% (+226 bps WoW) while BSDE 9.5% 2019 also saw rising yield to 12.15% (10 bps WoW). Meanwhile, TAXI 12.25% 2019 was traded back at its lowest yield of 12.94% after rising to 16.3% in the previous week.
