Indonesia Market Recap
JCI snapped lower, suppressed by the banking sector. Top Losers : Basic Industry (-2.3%), Consumer (-1.1%), Infrastructure (-0.9%).
Unlike JCI, INNI Index was flat at -0.01%. Massive foreign inflows of IDR108 billion run into BBRI. Meanwhile, BBCA’s AGM approved the dividend payment of IDR340/stock. Meanwhile, IDX is reviewing the plan of deleting KRAS after it posts loss over the last 7 consecutive years.
Daily Foreign & Domestic Sector Movement
Foreign net buy was worth IDR546 billion with the basic industry, i.e. SMGR, posting net buy of IDR18.4 billion. Foreign investors positively responded to SMGR and SMCB consolidation with a view to accelerating downstream expansion, increasing production capacities, and product diversification.
Meanwhile, domestic inflows of IDR242.2 billion run into the banking sector and IDR70.82 into the consumer sector along with the national election to be held next week.
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