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.

Download full report HERE.