Market Recap
JCI closed lower, held back by the infrastructure sector and taking profit. JCI’s Top Losers: Mining (-1.7%), Infrastructure (-1.4%), Misc. Industry (-1.2%).
INNI Index slipped 0.80% as construction stocks muted ,e.g., PTPP (-2.4%) and WSKT (-2.7%). Investors’ concerns about Jokowi’s new ministries to hinder the ongoing infrastructure progress held the construction sector back.
Daily Foreign & Domestic Sector Movement
JCI recorded foreign outflow of IDR189 billion. Chinese 4W sales in May slumped to 16.14% y-y, a steep decline compared with April’s 14.15% as the bruising trade war hurts Beijing economy. Foreign investors remain to retain wait-and-see stance as they are awaiting the release of the Consumer Price Index (CPI) and retail sales.
Domestic investors fled their funds of IDR46 billion from the retail sector and IDR2 billion from the basic industry sector.
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