On Friday (05/17), JCI was at a tepid close as the banking sector weakened. JCI’s Top Losers: Finance (-1.8%), Infrastructure (-1.6%), Consumer (-1.2%).
INNI Index fell sharply by 2%, much steeper than JCI’s 1.17%. That was on the back sliding retail stocks, i.e., MAPI (-6.1%) and RALS (-4.5%).
Daily Foreign & Domestic Sector Movement
On Friday (05/17), foreign investors pulled IDR789 billion worth of net sell from JCI. From the global outlook, on-pause US-China negotiation is likely to impact on soy commodity. The US is exposed to permanent loss of its Chinese soy-export markets, while China will never hit 2016-American imported soy volume.
Foreign outflows were followed by the domestic net sell of IDR91 billion and IDR4 billion in the retail and agricultural sectors.
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