IHSG was rebound after a deep plunge as stocks of the banking sector strengthened. JCI’s Top Gainers: Finance (+2.4%), Consumer (+2.1%), Misc. Ind. (+1.7%).
INNI index was rebound, backed by construction stocks—WIKA in particular.
Daily Foreign & Domestic Sector Movement
JCI recorded foreign outflows of IDR857 billion, with stocks of the banking sector to account for the largest outflows of IDR485 billion. JCI and Asia bourses revived from a deep plunge and were in the green after Trump affirmed a 0% payroll tax rate in 2020. In contrast to banking stocks, PTBA was one of mining stocks recorded the largest foreign inflows of IDR17 billion on Tuesday’s trading session of March 10, 2020, while its export performance in 2020 only hovered at 35%-40% of the total sales. In addition, the rupiah exchange rate against USD was appreciated by 0.28% to 14,352.
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