Like the regional bourse, JCI closed higher yesterday along with the subdued trade war tension and investors’ focus on the Fed’s meeting. Top Gainers: Infrastructure (+1.38%), Consumer (+1.25%), Mining (+0.85%).
Daily Foreign & Domestic Sector Movement
Yesterday, foreign investors posted the net buy of virtually IDR14.6 trillion, dominated by the banking sector posting the net buy of IDR14.5 trillion of which IDR14.2 trillion was the acquisition of BTPN by Sumitomo Mitsui Banking Corporation. The acquisition was a merger between BTPN and PT Bank Sumitomo Mitsui Indonesia.
Furthermore, domestic investors posted the net buy of IDR56 billion on the mining sector, coal in particular. They discerned the possible hike in coal price as the Indonesian government regulates the cut of coal output from 485 million tons to 479.8 million tons in 2019.
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