JCI’s rebound was back to a record, supported by the infrastructure sector. JCI’s Top Gainers: Infrastructure (+1.3%), Basic Industry (+1.0%), Trade (+0.7%).
INNI index outperformed JCI’s rebound as INTP, a basic industry stock, advanced 4.3%. The ongoing infrastructure projects during Jokowi’s administration heighten investors’ optimism about the II semester more buoyant profits promised by that sector.
Daily Foreign & Domestic Sector Movement
Yesterday, JCI attracted IDR809 billion of foreign inflows with the largest inflows of IDR412 billion into the banking sector. All Asian bourses but JCI were slowed. The US strong job data whittled away the probability of another FFR cut as markets are anxious about the US hard-landing economy if FFR cuts are not appropriate for 2019.
Domestic money of IDR53 billion and IDR9 billion flocked into the mining and agricultural sectors.
Download full report HERE.