Market Recap
JCI pared down on Friday’s trading session, subdued by the banking and basic industry sectors. JCI’s Top Losers: Basic Industry (-1.6%), Property (-1.5%), Agriculture (-0.7%).
INNI index dipped 0.47% as declines in construction—WSKT (-3.1%), PTPP (-3.0%), and WIKA (3.0%)—hindered its movements. The national election to occur in IH19 was a negative domestic backdrop impeded its performance as disclosed in its financial statements and a logical takeaway for Friday’s tepid close.
Daily Foreign & Domestic Sector Movement
On Friday (08/02). JCI posted foreign outflows of IDR579 billion as Trump’s administration decided to impose an additional tariffs of 10% or USD300 billion on Chinese goods. The measures take into effect on September 1st, 2019 and are subject to a 25% increase. The protracted trade wars pare the Indonesian rupiah’s exchange rate down 0.49% to IDR14,185.
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