JCI closed higher on Friday (08/23) backed by the miscellaneous and consumer goods industries. JCI’s Top Gainers: Misc. Ind (+2.9%), Mining (+0.8%), Basic Ind. (+0.7%).
INNI index closed lower, unlike JCI’s performance, because of declines in property stocks, CTRA (-2.8%) and PWON (-2.2%).
Daily Foreign & Domestic Sector Movement
JCI closed 23 August’s trading with foreign outflows of IDR318 billion, while domestic outflows of IDR63 billion from the miscellaneous industry and IDR20 billion from the banking industry were stimuli for its big moves to Friday’s green zone. From the global highlights, markets are anticipating Jerome Powell’s speech as the Fed’s policy remains hawkish.
Back in the domestic realm, the rupiah’s exchange rate for the US dollar restrengthen as BI’s pre-emptive stance of cutting BI 7-DRRR by 25 bps to 5,50% is a stimulus for accelerating Indonesia’s economic growth.
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