Market Recap
JCI moved at modest pace yesterday along with January’s Consumer Confidence Index (IKK), which on annual basis is lower. Top Losers: Agriculture (-0.93%), Basic Industry (-0.84%), Mining (-0.60%)
Daily Foreign & Domestic Sector Movement
Foreign net buy was at IDR373 billion, with the banking sector secured the largest amount of IDR273 billion. BBRI’s stocks posting the foreign net buy of IDR197 billion was the first-highly demanded stock. That’s attributable to its outstanding performance. Its revenue surged 16% to IDR25.5 trillion; net profits skyrocketed by 256% to IDR8.8 trillion.
Meanwhile, domestic net buy was at IDR76 billion on the pulp and paper sector, marking outperformance thanks to the hike of 16% in the price of bleached hardwood papers from USD900/ton in 2017 to USD1000/ton in 2018. For most of 2019, the uptrend demand for paper sends its price to soar at 8% in 2019.
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