Market Recap
JCI slowed, suppressed by the banking and consumers goods industries. JCI’s Top Losers: Mining (-1.2%), Finance (-0.8%), Consumer (-0.4%).
INNI, in contrast to JCI, nudged up, backed by health care stocks, e.g. MIKA (+2.7%) and SILO (+1.1%).
Daily Foreign & Domestic Sector Movement
JCI gave up IDR68 billion worth of foreign outflows, with the largest amount of IDR67 billion was posted by the telecommunication sector. A glance at commodities, the outlook of the steel industry is less bright as China’s economy slows, evidenced by Sept. PMI at 44.2, much lower than 50. Another to weak PMI reading, the US and China trade get bitter as the US blocks any investments in Chinese companies. The ban rattled Asia markets, making them vulnerable to foreign outflows.
The rupiah exchange rate against USD was appreciated 0.16% to 14,174.
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