Market Recap
JCI was at a tepid close, subdued by the banking and infrastructure sectors. JCI’s Top Losers: Finance (-0.9%), Agriculture (-0.6%), Basic Industry (-0.4%).
INNI index continued to close lower, held back by the banking stocks, BBRI and BMRI
Daily Foreign & Domestic Sector Movement
JCI re-posted foreign outflows of IDR795 billion, with the largest outflows of IDR408 billion posted by the banking sector. Most Asia markets retreated, like JCI’s 4-day losing streak. Thursday’s bearish markets were attributable to the intense trade dispute between the US and EU after the US trade representative released EU products, e.g. airplane, coffee, pork, and butter subject to new additional tariffs. Besides, the US payroll reading lower than the estimate leave the global economic outlook bleaker.
The rupiah’s exchange rate against USD nudged up 0.09% to 14,193.
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