BI Interest Rates Rise: Does it Mount Pressure on Property Issuers?

The stock performance of property issuers, already under pressure throughout this year, faces the potential for further strain due to the rise in benchmark interest rates.

Tim Redaksi

26 Apr 2024 - 17.25
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BI Interest Rates Rise: Does it Mount Pressure on Property Issuers?

(Bisnis Photo)

Bisnis, JAKARTA — The property sector stock index continues to rank among the year's weakest performers. Regrettably, news of Bank Indonesia (BI)'s decision to raise the benchmark interest rate will likely compound the pressure on this sector. Despite these challenges, are there still appealing stocks within this domain?

Interestingly, the property sector stock index, or IDX Sector Properties & Real Estate (IDXPROP), exhibited a modest strengthening of 0.24% on Wednesday (24/4/2024) following BI’s announcement of a 25 bps increase in the benchmark interest rate to 6.25%.

In trading session on Thursday (25/4/2024), IDXPROP experienced a decline of -0.22%. This downturn mirrors the performance of the composite index or IHSG, which also saw a decrease of 0.27% to 7,155.29, following a 0.90% increase yesterday in response to BI’s decision.

With the current standings, IDXPROP has registered a year-to-date (YtD) decline of -13.25% throughout 2024. This places IDXPROP as the third-worst performing sectoral index this year, following the IDX Sector Technology and IDX Sector Transportation & Logistics.

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© Copyright 2024, Hak Cipta Dilindungi Undang - Undang.