Heavy Buying on Higher Grade Multifinance Names

Investors become more defensive to respond recent market uncertainty amidst ongoing IDR sharp depreciation. Transaction volume in Indonesia secondary market dropped to IDR 3691 trillion last week, down by 13% WoW. Transaction frequency was also down to 394 times from 424 times in earlier week. Secondary flow skewed to AAA names dominating 70% of the total transaction in last week trading. We saw heavy buying in higher rated multifinance names. Among gainers are; Adira Dinamika Multi Finanace, Tbk (ADMF:IJ) 8.75% 2016 (idAAA), TAFS 9.25% 2018 (idAAA) and FIFA 9.25% 2018 (idAAA). All these three bonds have posted heavy volume of more than IDR 150 billion last week sending the prices shifting back to approaching their par.

Solid Indonesia Secondary Market Activities

Three New Eximbank Bonds to Color Indonesia Secondary Trading Next Week

Banks and Multifinance Bonds Led Indonesia Weekly Secondary Flows

Bond Market Mixed amidst Bank Indonesia Meeting

Bank Indonesia Intervention Market Worth IDR11.9Trn