Market Recap
JCI closed lower, held back by the banking sector. Top Losers JCI: Basic Industry (-2.0%), Finance (-1.9%), Property (-1.5%).
INNI Index moderated at 1.38, dropping deeper than JCI’s 1.00%. Declines were attributable to tumbling property stocks, i.e., PTPP (-4,9%) dan PWON (-4,3%).
Daily Foreign & Domestic Sector Movement
Indonesian’s 1Q19 economy only grew by 5.07% y-y, much lower than 4Q19 growth of 5.18% y-y and consensus of 5.19% y-y. Declining global oil and gas prices, and struggling cars’ production and sales in 1Q19 slowdown economic growth. That caused JCI to suffer from the foreign net sell of IDR836 billion.
Meanwhile, the consumer and property sectors respectively posted the net sell of IDR122 billion and IDR21 billion.
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