Market Recap
JCI closed higher as the banking sector picked up. JCI’s Top Gainers: Consumers (+1.3%), Finance (+0.9%), Misc. Industry (+0.7%).
INNI index advanced, backed by the property stocks, i.e. PWON and CTRA. A number of banks (BCA and BMRI) plans to lower their mortgage loan rates are boosts for the property stocks.
Daily Foreign & Domestic Sector Movement
JCI saw foreign investors pulling out IDR185 billion from its portfolios as the construction sector suffered from the largest foreign outflows of IDR99 billion. Like JCI, most of Asia markets closed higher. A glance at commodities, Australia ICE NewCastle coal prices rocketed by 3.11% to USD69.55/ ton: the highest price since Oct. 1. The rising coal price was positive momentum for coal stocks, i.e. PTBA (+3.7%) and ADRO (+2.4%) and was underpinned by markets’ optimism about high demands for coal in November and December. The rupiah exchange rate against USD was depreciated by 0.04% to 14.150.
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