JCI finished Tuesday’s trading lower, the consumer goods and basic industry hampered its moves to the green zone. JCI’s Top Losers: Basic Ind. (-2.3%), Consumer (-1.2%), Misc. Ind(-0.9%).
INNI index dipped 0.29% as the miners, ADRO and PTBA dropped. Investors estimate struggling coal prices is a dismal coal outlook.
Daily Foreign & Domestic Sector Movement
JCI continued to post foreign outflows of IDR1 trillion for two days in a row. The miners hit hardest by the capital outflows of IDR83 billion as foreign investors’ intense anxieties about the current geopolitical chaos–political turmoil in Hong Kong and Argentina—urged them to pull their money from EM bourses, including JCI. Adding to the broader geopolitical tensions is slumping US treasury with a 10-year tenor alarming a recession. From domestic highlights, the Indonesian rupiah’s exchange rate for USD still weakens.
The retailer and banking sectors are dim due to domestic outflows of IDR370 billion and IDR321 billion, respectively.
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