Market Recap
JCI was rebound yesterday along with the rally in the financial sector. Top Gainers JCI: Finance (+1.22%), Infrastructure (+1.03%), Consumer (+0.45%).
INNI Index was rebound at 0.68%, backed by the infrastructure sector (+2.91%) and the banking sector (+1.78%). BI estimates that the credit growth will settle at 10%-12% in 2019. Thus, the banking and infrastructure sectors are top-pick stocks for investors.
Daily Foreign & Domestic Sector Movement
Yesterday’s foreign inflows were at IDR306 billion as foreign investors invested IDR121 billion in the banking sector. Besides, inflows of IDR104 billion also poured into the telecommunication sector. BI’s governors stated that Turkey may not spark domino effects on Indonesia, and it boosted foreign investors’ confidence in Indonesia’s stock market.
Domestic inflows into the poultry industry were at IDR81 billion after Indonesian authorities released a 10% reduction of the poultry feeds production with a view to maintaining the balance between demand and supply.
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