Market Recap
JCI closed lower yesterday, suppressed by the downwards revisions to China’s economy and further foreign capital outflows. Investors also awaited the release of Consumers Confidence Index (CCI) of February. Top Losers: Consumer (-1.43%), Property (-1.27%), Trade (-0.95%).
Daily Foreign & Domestic Sector Movement
Foreign investors concern about the downward revisions to China’s economic growth to negatively impact on Indonesia’s trade balance due to Indonesia’s major export commodities demanded by China. The fears caused foreign outflows of virtually IDR1.1 trillion from JCI, with outflows of IDR565 billion and IDR305 billion from the banking and automotive sectors, respectively.
Meanwhile, domestic investors spent their funds of IDR10 billion on the cement sector. The domestic outflows were less substantial in amount because domestic investors showed little concerns about China’s economy.
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