Market Recap
Despite continued foreign outflows, JCI closed higher as the consumer sector, UNVR in particular, rallied. Top Gainers JCI: Consumer (+0.91%), Basic Industry (+0.76%), Agriculture (+0.73%).
INNI Index rallied by 0.44%, outpacing JCI’s hike of 0.38%. 3 out of 5 property stocks listed as top gainers on INNI Index backed the rally. Top Gainers INNI: Property (+2.1%), Agriculture (+2.0%)
Daily Foreign & Domestic Sector Movement
Foreign capital worth IDR731 billion outflowed from JCI. IDR226 billion of the total outflows came from the telecommunication sector. Whereas TLKM’s stocks dropped by 1.8% due to outflows of IDR207 billion; the banking sector posted outflows of IDR191 billion. The shaky global economy impacting emerging markets sparked jitters and foreign outflows.
In addition, the cigarette makers, with HMSP as the main stock, posted domestic outflows of IDR24 billion. As HMSP’s stocks nudged up 0.79%, GGRM’s stocks nudged down 0.16%. Thus, domestic investors took advantages of profit taking.
Download full report HERE.
