Market Recap
JCI fell at the sharpest as investors concerned about slowing momentum of the global economy. Top Losers JCI: Consumer (-2.77%), Misc. Industry (-2.46%), Property (-1.75%).

INNI Index slowed at 2.44%, much deeper than that of 1.75% in JCI due to the sharp downward of 4.66% in the consumer sector. ICBP and INDF stocks dropped at 9% as intense competition between domestic peers and consumers’ preference for imported instant noodles fueled jitters of downward profit margins.

Daily Foreign & Domestic Sector Movement
Foreign outflows of IDR148 trillion, with the automotive sector, posting the biggest outflows of virtually IDR196 billion upset JCI. Declining automotive sales in January and February 2019 dimmed investors’ confidence in the bright prospect of this sector. Indeed, Friday’s 2% steep losses in the U.S. stock markets made a much murkier backdrop.

But, foreign inflows of IDR46 billion still poured into the banking sector. The poultry industry was exposed to domestic outflows of IDR38 billion. KKR, one of JPFA’s shareholders, reduce its portfolios in JPFA with the execution price of IDR2,200 per share. It causes JPFA’s prices to move closer to KKR’s selling price.

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