JCI closed lower, held back by the basic industry and banking stocks. JCI’s Top Losers: Basic Ind. (-1.0%), Property (-0.6%), Finance (-0.4%).
Like JCI, INNI index closed lower, constrained by declines in construction stocks, i.e., WSKT, WIKA, and PTPP. The declines in construction stocks were attributable to the possible termination of state-owned infrastructure holding.
Daily Foreign & Domestic Sector Movement
JCI was still vulnerable to slight foreign outflows of IDR38 billion the largest proportion of which accounted for IDR27 billion was pulled out from the cigarette stocks. A glance at commodities, Crude Oil Brent and West Texas Intermediate Jan ’20 Futures Contracts tumbled as the uncertain partial deals between the US and China lingered still. Accordingly, OPEC and Russia agreed on extending the output cut until the mid of 2020.
Meanwhile, the rupiah exchange rate for USD was flat at 14,092.
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