Market Recap
JCI was at a lower close, held back by the banking and consumer sectors. JCI’s Top Losers: Misc. Industry (-2.4%), Basic Industry (-1.6%), Finance (-1.5%).
INNI Index dropped 1.63%, aligning with JCI’s moderated pace as property stocks weighed JCI down, e.g., CTRA (-4.6%) and WIKA (-4.1%).
Daily Foreign & Domestic Sector Movement
IDR1.1 trillion worth of foreign outflows fled from JCI. It revealed that the banking sector, posting a net sell of IDR581 billion suffered at most, while the telecommunication sector struggled with less net sell of IDR220 billion. The US’s boycotts on buying telecommunication equipment made by Huawei escalated the trade battle.
Additionally, domestic investors withdrew their funds of IDR66.8 billion and IDR20.7 billion from the miscellaneous and trading sectors, respectively.
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