Market Recap
JCI closed lower, muted by the massive foreign net sell due to the lower-than-estimate earnings season and the futile talks between the U.S.-North Korea. Top Losers: Misc. Industry (-4.81%), Mining (-1.69%), Basic Industry (-1.59%).
Daily Foreign & Domestic Sector Movement
Foreign investors concerned about Chinese economic growth after the release of Chinese PMI, exposing JCI to foreign outflows of IDR1.3 trillion. The automotive sector posted from the biggest foreign net sell of IDR639 billion after ASII released its 4Q18 financial statements, net profit margins of which were revised downwards to 7%: the lowest for the last 3 years.
Domestic investors outflowed their funds worth IDR13 billion from the agricultural sector after the decline of 6% to IDR7,343/kg in CPO’s prices for 4 consecutive days. The further sliding prices of CPO heightened their fears of the prospect of the agricultural sector, dominated by CPO companies.
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