Market Recap
JCI closed lower, subdued by the banking sector. JCI’s Top Losers: Agriculture (-1.7%),Misc. Ind. (-1.6%), Mining (-1.4%).

INNI closed lower after coal stocks dropped, i.e., PTBA (-3.5%) and ADRO (-2.6%). Coal price moving sideways was the logical takeaway for the decline.

Daily Foreign & Domestic Sector Movement
JCI suffered from foreign outflows of IDR221 billion with the largest portion of IDR81 billion pulled out from the banking sector. Asia markets were bearish due to China’s disappointing data reading, e.g., China’s Oct. manufacturing production at 4.7% y-y, retail sales at 7.2% y-y, lower than the estimate of 7.9%.

The rupiah exchange rate for USD was depreciated by 0.02% to 14,080.

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