Market Recap
JCI was at the higher close yesterday as the financial and basic industry sectors strengthened. Investors also awaited the release of trade balance data. Top Gainers JCI: Basic Industry (+2.03%), Misc. Industry (+2.02%), Finance (+0.91%).
INNI Index nudged up 0.44% yesterday as LPPF’s stocks rebounded by 7.2% after John Riady succeeded his father, James Riady, to manage Lippo group’s projects.
Daily Foreign & Domestic Sector Movement
Yesterday’s foreign outflows were at IDR313 billion. The biggest outflows were from the telecommunication and trade sectors of IDR148 billion and IDR87 billion, respectively. Despite the outflows, JCI rebounded by 0.56%, backed by the foreign inflows of IDR64 billion into the financial sector. Gradually-raising foreign inflows into the financial sector put Indonesia’s equity on the spotlight.
Meanwhile, domestic inflows of IDR65 billion run into the poultry sector. After the downward revision of 20%-30% since February, the sector starts to accumulate capital inflows.
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