Market Recap
JCI was at modest pace yesterday as the worsening trade relation between the U.S. and China and the profit taking by domestic investors. Top Losers: Trade (-1.25%), Property (-0.98%), Agriculture (-0.88%).
Daily Foreign & Domestic Sector Movement
Foreign investors reposted the net buy of IDR607 billion of which the amount of USD585 billion was contributed by the net buy of the banking sector. The stocks of PT Bank Mitraniaga Tbk (NAGA) was the biggest contributor to the net buy. NAGA sold for 1.17 billion stocks (or 71.68% ownership) to Industrial Bank of Korea with the par value of IDR409/stock or equal to IDR478 billion. The net buy resulted in the increase of 25% in NAGA’s stocks in yesterday’s trading session.
The domestic investors performed the net buy of IDR95 billion on the telecommunication infrastructure sector along with the plans of the additional telecommunication towers in 3,000 locations in 2019.
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