Market Recap
JCI dipped another trading close after massive capital outflows. JCI’s Top Losers: Misc. Industry (-2.6%), Basic Industries (-1.7%), Consumer (-1.7%).
INNI index dropped another record close at 1.41%, held back by KRAS’s 3.8% decline.The idle blast furnace project causing the resignation of one of KRAS’s commissioners slowed its stocks movement.
Daily Foreign & Domestic Sector Movement
JCI recorded foreign outflows of IDR1.5 trillion as the banking stocks—BUKU IV stocks in particular—posted the largest outflows of roughly IDR493 billion. In addition, domestic investors also fled their funds of IDR37 billion and IDR13 billion from the retailer and miscellaneous portfolios. From the global highlights, Chinese industry posted June’s weak earnings slumping 3.1% y-y to USD87.5 billion compared with June 2018 as the trade battles undermine its economy.
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