JCI closed higher on Friday (10/18), backed by the basic industry sector. JCI’s Top Gainers: Misc. Ind.(+1.2%), Finance (+1.1%), Property (+0.9%).
INNI index rose, underpinned by construction stocks, i.e. WIKA and WSKT. Markets are optimistic about the construction sectors regaining its strong footing after the new ministers of Jokowi second term take oath on Monday (10/21).
Daily Foreign & Domestic Sector Movement
JCI posted foreign outflows of IDR338 billion. On Friday (10/18), UNVR dipped 3.63%, for its 3Q19 financial performance disappointed and 3Q19 net profits dropped 24% y-y from 3Q19. In contrast to UNVR, ERAA and GLOB rose 10.91% and 2.76%, respectively; those two gadget retail stocks benefited from the enactment of International Mobile Equipment Identity (IMEI) by the Minister of Industry. The regulation curbs illegal imported mobile phones to penetrate Indonesia’s markets and will take into effect in April 2020. The rupiah exchange rate for USD nudged up 0.05% to 14,148 per USD.
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