Market Recap
JCI closed lower yesterday as the financial sector posted foreign outflows. JCI’s top losers: Basic Industry (-1,19%), Mining (-0,84%), Finance (-0,525).

INNI Index moderated at 0.37% as BMRI was revised downwards by 2.7%. Yet, construction stocks such as WIKA, JSMR, WSKT, and PTPP rallied by 2%-5.6%. JSMR’s rally because its DINFRA was oversubscribed; thus, JSMR prepared an alternative funding, i.e, zero coupon bond.

Daily Foreign & Domestic Sector Movement
Investor Yesterday’s foreign outflows were at IDR424 billion as the banking sector posted foreign net sell of IDR155 billion. Like the banking sector, the agricultural sector also recorded foreign outflows of virtually IDR114 billion. Although the CPO industry has endeavored to boost demand for CPO by the increment in mixed biodiesel from 20% to 30%, foreign investors are still
skeptical about the rising stockpiles of CPO.

Domestic investors posted net sell for the toll-road industry, i.e, outflows of IDR38 billion from JSMR. Yesterday’s hike of nearly 4.6% in JSMR was a logical takeaway for domestic profit taking.

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