Investment Outlook - Battle for Liquidity

Why Indonesian Equity Market is lagging?

Top of Concerns from the Global perspectives:

1. Increased 10 Year US T-Bill Yield as the main concern arise over the potential of tantrum before tapering off;
2. The hike of COVID-19 cases and its mutation pull the trigger of future lockdown;
3. The Battle of Liquidity: the rising appetite toward Crypto assets;

Concerns to Domestic Market:

1. Lower test for COVID-19 cases vs slower rollout of vaccines haunt the domestic economy recovery;
2. Unfavorable result of macro data release create concern over earning and GDP growth;
3. The “exhausted retail investors” vs the noise from the rebalancing agenda from the big boys of local institution;
4. All eyes on execution rather sentiment: SWF case for construction and battery holding for nickel mining.
5. Primbon Index 2021 : sideways pattern until May’21 and better outlook in 2H21.

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