Market Recap
Despite BI’s monetary stance and the bearish favour in the regional market, JCI nudged up, backed by the stellar banking performance and the further net foreign buy. Top Gainers: Basic Industry (+0.76%), Finance (+0.49%), Trade (+0.36%).
Daily Foreign & Domestic Sector Movement
Foreign investors completed the net buy of IDR1 trillion in the banking sector and IDR170 billion in the automotive sector. The unchanged 7-day Reverse Repo Rate was a positive sentiment for the banking sector because it provides the banking sector the ease of setting strategies and targeting margins.
Additionally, domestic investors posted the net buy of IDR45 billion in the construction sector. We estimate domestic investors tended to buy on weakness over Construction Property and Real Estate Index sliding by 1.53%.
Download full report HERE.
