{"id":9633,"date":"2024-07-08T00:00:00","date_gmt":"2024-07-07T17:00:00","guid":{"rendered":"http:\/\/mandiri.test\/uncategorized-id\/equity-market-commentary-june-2024\/"},"modified":"2026-01-19T16:36:37","modified_gmt":"2026-01-19T09:36:37","slug":"equity-market-commentary-june-2024","status":"publish","type":"post","link":"https:\/\/mandiri-invest.azdevs.my.id\/en\/market-update\/equity-market-commentary-june-2024\/","title":{"rendered":"Equity Market Commentary : June 2024"},"content":{"rendered":"
\n
\n
\n

Great Sale<\/h2>\n

 <\/p>\n

The biggest challenge in June 2024 was the pressure on the exchange rate. The depreciation of the Rupiah was driven by the elevated Fed rate due to a strong US economy. This issue affected not only the Rupiah but also other emerging market currencies. Additionally, domestic challenges contributed to the weaker exchange rate. The market was concerned about the expansionary fiscal policy of the incoming government, which could increase the debt ratio and widen the budget deficit. However, the current finance minister and the elected government have assured that the debt ratio and state budget will remain prudent and stable. The Rupiah has since stabilized, and there is potential for it to strengthen in the second half of 2024.<\/p>\n

The stock market experienced a “great sale,” with the JCI index excluding seven stocks falling below 6,000 with a PE ratio as low as 8.6x. This presented a significant buying opportunity for investors, as the current economic fundamentals remain sound without major pressures like those during the pandemic or economic crises. Our target for the JCI index in 2024 is 7,400 at a PE ratio of 14.8x. We believe now is an opportune time to add more domestic equity funds because of the compelling valuation and the clear bottom of the correction, offering more upside potential than downside risk. We expect most stocks, particularly large-cap ones, to recover by the second half of 2024.<\/p>\n<\/div>\n<\/div>\n

 <\/p>\n<\/div>\n

Product Recommendation<\/h2>\n

 <\/p>\n\n\n\n\n\n\n\n\n\n
EQUITY FUND<\/th>\n<\/tr>\n<\/thead>\n
MITRA A<\/a><\/td>\nMITRA invests in majority domestic stocks, with a focus on Big Cap stocks. Categorized as a Long-Term investment with high risk. Investors bear the risk associated with the equity portfolio.<\/td>\n<\/tr>\n
MICB A<\/a><\/td>\nMICB primarily invests in stocks included in the LQ45 index. Categorized as a Long-Term investment with high risk. Investors bear the risk associated with the equity portfolio.<\/td>\n<\/tr>\n
EQUITY INDEX AND ETF FUND<\/th>\n<\/tr>\n
FTSE ESG A<\/a><\/td>\nFTSEESG primarily invests in stocks included in the FTSE Indonesia ESG Index. Categorized as a Long-Term investment with high risk. Investors bear the risk associated with the equity portfolio.<\/td>\n<\/tr>\n
XMLF<\/a><\/td>\nMandiri ETF LQ45 is an ETF that invests in blue-chip stocks listed in the LQ45 Index. Categorized as a Long-Term investment with high risk. Investors bear the risk associated with the portfolio of these stocks.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

\n

For More Information<\/h3>\n

Contact Mandiri Investasi – (021) 526 3505
\nMandiri Investasi Whatsapp – 0816 86 0003
\nMandiri Investasi Email – cs@mandiri-investasi.co.id<\/a>
\nMandiri Investasi Website – www.mandiri-investasi.co.id<\/a><\/p>\n

\n

DISCLAIMER<\/em>
\n
\nThe opinions expressed in the article are for general informational purposes only and are not intended to provide specific advice or recommendations for individuals or specific mutual fund or investment products. It is intended solely to provide education about the financial industry. Views reflected in the content may change at any time without notice. All performance data and investment returns mentioned in this article cannot be used as a basis for calculation to buy or sell a mutual fund. This data is performance records based on historical data and is not a guarantee of future mutual fund performance. Investment through mutual funds carries risks. Investors are required to read and understand the prospectus before deciding to invest through mutual funds.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

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