Market Recap
JCI was at a tepid close due to a food of profit taking. JCI’s Top Losers: Infrastructure (-2.3%), Finance (-1.7%), Consumer (-1.6%).
INNI Index dropped at 0.86%, held by back by the infrastructure and utilities sectors, i.e. JSMR (-5.7%) and TLKM (-3.4%). Meanwhile, BMRI muted (-4.5%) after BNLI’s postponed acquisition.
Daily Foreign & Domestic Sector Movement
JCI recorded yesterday’s foreign outflow of IDR302 billion; the telecommunication sector posted the biggest outflow of IDR316 billion. Thus, in contrast to its bullish Asian peers, JCI was bearish. Profit taking, triggered by rupiah appreciated at 1% for 3 consecutive days was the major cause of JCI’s declines.
Rupiah appreciation drove domestic investors to withdraw IDR 684 form the basic industry and IDR108 billion from the mining industry.
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