Buyback Boom: BBCA, BUKA, and HRUM Lead Indonesia’s Stock Market
Indonesia's stock market sees a buyback boom led by BBCA, BUKA, and HRUM, with over IDR10.4 trillion spent, signaling confidence amid market volatility.
(Bisnis.Com) 01/01/70 07:00 18667
Bisnis.com, JAKARTA—Over the past two months, Indonesia’s capital market has seen a major wave of share buybacks from large-cap companies, with a total value exceeding IDR10.4 trillion, making it one of the most active buyback periods since the pandemic.
From PT Bank Central Asia Tbk. (BBCA), PT Bukalapak.com Tbk. (BUKA), to PT Harum Energy Tbk. (HRUM), a series of major firms appear to be moving in unison with a strategy that many analysts describe as both a “signal of confidence” and a “defensive maneuver amid market pressure.” This trend has drawn market attention, unfolding amid a somewhat paradoxical backdrop of a volatile yet buoyant IDX Composite index (IHSG).
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