Market Recap
After rallying, JCI closed flat yesterday due to the continued net foreign sell, particularly in the banking sector. Top Losers: Basic Industry (-1.09%), Misc. Industry (-0.64%), Finance (-0.16%).

Daily Foreign & Domestic Sector Movement
While awaiting the outcome of trade deals between the U.S. and China, foreign investors posted the net sell of IDR619 billion, with the banking sector posting the first’s biggest foreign net sell of IDR145 billion. Meanwhile, the automotive sector posted the second’s biggest foreign net sell of IDR104 billion.

Domestic investors posted the net sell of IDR33 billion for the telecommunication sector as the possible consolidation among operators to create more healthy telecommunication industry and to prevent the price war. The consolidation talks involve stocks of XL Axiata (EXCL), Smartfren Telecom (FREN), and Indosat (ISAT).

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