The unprecedented corona shock to spread since the early of March 2020 throws all-across economic sectors into disarray and exaggerates jitters of the severe damages it brings into the global and domestic financial sector. JCI’s bearish trend at 13.5% from March to April 2020, a jump of almost 100 bps in yields of 10-year government bonds, a 4.3% rupiah depreciation showed impairment in the financial sector. JCI ended Tuesday’s trading session of March 24, 2020 at 3,937 or snapping to an 8-year low at 3,955 in June 2012. Worried investors pulled out their money circa IDR125.2 trillion from JCI’s stocks since early 2020, not to mention surging infected cases to burden JCI with significant foreign selling.
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