JCI was bullish due to the Fed’s dovish stance after the FOMC meeting. The Fed’s stance sent the Rupiah lower than USDIDR14,000 and picked up the banking sector. Top Gainers: Finance (+1.73%), Infrastructure (+1.68%), Mining (+1.56%).
Daily Foreign & Domestic Sector Movement
Yesterday, foreign investors posted the net sell of almost IDR11.5 trillion. A large amount of net sell should not bring any jitters because the net sell of IDR12.95 was the acquisition value of SMCB by SMGR. SMGR and Holderfin B.V. entered into a conditional sales & purchase agreement (CSPA) for the acquisition virtually worth USD917 million on November 12, 2018. The foreign net buy of IDR877 billion in the banking sector brought JCI to reign at bull favor to 1.06%.
Meanwhile, domestic investors ploughed into the net buy of IDR219 billion on the poultry feeds. Another to the preference for the poultry feeds, CPIN’s stock is also preferred stocks by domestic investors as it succeeded to mark the net buy of IDR181 billion. The estimated lower inflation figure of 0.50% m-m in January than that of 0.62% m-m in December 2018 makes the poultry feeds the top-pick stock targeted by domestic investors.
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