Market Recap
JCI closed at slightly lower. Further foreign outflows, in the financial sector particularly, held back JCI. Top Losers: Basic Industry (-1.14%), Agriculture (-0.73%), Infrastructure (-0.49%).
Daily Foreign & Domestic Sector Movement
Yesterday’s foreign outflows amounted to IDR559 billion, with the banking sector posting the biggest outflows of nearly IDR293 billion. Investors remained wait-and-see after the Fed confirmed to release the U.S. retail sales data. The prior reading was disappointing as it plunged to the lowest figure of 1.2%. The Fed cautiously reads the currently updated data to figure out whether or not the U.S. consumption has rebounded from the lowest level in 2018.
Meanwhile, domestic outflows from the construction sector were worth IDR34 billion, as WEGE’s stocks rallied by 3.87%. Thus, domestic investors took the best chance of the moment to take profits from WEGE’s stocks.
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