JAKARTA - PT Bank Central Asia Tbk's Chief Economist David E. Sumual assessed that the increase in the price of a number of shares of issuers in the technology sector was a boost for optimism that Indonesia's digital economy could continue to grow. In addition, some investors consider the fundamentals of technology companies to be quite good.

"Indeed, from profitability there are still many that are not positive. Investors now see solid fundamentals of technology sector companies. Currently, capital market investors are looking for issuers that have strong fundamentals and have businesses that are still wide open," said David, quoted by Antara, Thursday, May 26. .

After experiencing pressure, the shares of issuers in the technology sector have shown their 'tajinya' again. For example, the shares of PT Bukalapak.com Tbk (BUKA) which at the close of last Wednesday, May 25, increased to IDR 282 per share.

In addition, the shares of PT GoTo Gojek Tokopedia Tbk (GOTO) also experienced a significant increase. If last week its share price was depressed to Rp190 per share, at the close of yesterday the issuer which has the stock exchange code GOTO has reached Rp304 per share.

However, not all technology issuers experienced an increase. At the close of stock trading yesterday, PT Trimegah Karya Pratama Tbk (TRIM) and PT Sentral Mitra Informatika Tbk (LUCK) continued to decline. In fact, the selling pressure of the issuer's shares touched the Lower Auto Rejection (ARB).

David said that the current business cycle of technology companies, whether global, regional, or Indonesian, is indeed less profitable. This was due to the sentiment of an increase in interest rates by the Fed. Even the Fed's interest rate is expected to continue to be pulled up to 3.5 percent.

Previously, when the Fed's interest rate was zero percent, startups and technology companies experienced very significant increases.

David assessed that capital market investors actually don't need to worry about investing in technology issuers. As long as the technology company is still able to increase cash flow, its business is still running very well, and the issuer can still make its ecosystem grow, of course the prospects for the shares of technology issuers are still promising.

"If the issuer has strong fundamentals, the stock price could potentially improve. If the fundamentals are bad, natural selection will certainly occur. All technology companies that have IPOs on the IDX have the prospect of rising stock prices again. The business cycle that occurs in digital companies is consolidation," said David.


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