Market Recap
JCI was at a tepid close on Friday (07/05), held back by the banking sector. JCI’s Top Losers: Misc. Industry (-1.1%), Finance (-0.5%), Agriculture (-0.5%).

INNI index closed lower, aligning with JCI performance as the banking sector, i.e. BMRI (-2.5%) impeded JCI’s movements. BMRI is re-evaluating the Philippines and Vietnam-based banks, but markets negatively respond to the acquisition, resulting in foreign outflows of roughly IDR313 billion.

Daily Foreign & Domestic Sector Movement
On Friday (07/05), JCI witnessed foreign outflows of IDR150 billion with the biggest outflows of IDR224 billion running out from the banking sector. JCI–unlike the bull favor of Asia market–was bearish as the profit taking prevailed. Another negative sentiment is July’s coal benchmark price tumbling to USD71.92/ ton due to Russian coal supply to Asia markets and coal stockpiles.

Domestic investors fled their funds of IDR190 billion and IDR62 billion from the banking and mining sectors.

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