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The Majority of BUMN Shares getting Strengthen, Is that because of Erick Thohir?

After the Advanced Indonesian Cabinet (Kabinet Indonesia Maju) was officially inaugurated, the majority of BUMN issuers' shares turned green.
Illustration: Indonesian Stock Exchange -  After the Advanced Indonesian Cabinet (Kabinet Indonesia Maju) was officially inaugurated, the majority of BUMN issuers' shares turned green at the close of trade on Thursday (10/24/2019).

For example, Aneka Tambang (ANTM) shares rose 2.09 percent to Rp 975. Then Bank Rakyat Indonesia (BBRI) shares gained 2.87 percent to Rp 4,300. Bank Mandiri (BMRI) shares rose 2.12 percent to Rp 7,225. Then the shares of Bank Negara Indonesia (BBNI) jumped 4.64 percent to Rp 7,900.

Then Waskita Karya (WSKT) shares rose 1.21 percent to Rp 1,670 and shares of Wijaya Karya (WIKA) gained 1.43 percent to Rp 2,130. 

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Does the strengthening mean that investors responded positively to the appointment of Erick Thohir as Minister of BUMN

Director of Avere Investama, Teguh Hidayat said, the strengthening of the majority of BUMN shares was because the market responded positively to the cabinet announcement, not just the election of Erick Tohir as Minister of BUMN

However, if it's specific about the Erick Tohir effect as Minister of BUMN, the market will still see how its performance will be. Because, Erick is known as a figure with minimal experience in government. He is more active in the world of sports and his business in private business. 

Teguh assessed, besides Jokowi's administration's new cabinet sentiment, it's time for the red plate stock to rise again after being pressured by a number of sentiments in the last few months, such as the presidential election, demonstrations, and trade war that never ended. 

Teguh projected that the rise in shares of BUMN issuers could continue, because the stocks that were rising were still far from their highest positions due to a fairly large market correction before.

For example, BMRI shares which are currently at the level of Rp 7,225 are still relatively cheap because previously the price of BMRI was perched at the level of Rp 10,000 per share. (*) 

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