Market Recap
JCI closed higher, backed by the banking and basic industry sector. JCI’s Top Gainers: Agri (+1.3%), Basic Ind. (+1.2%), Mining (+1.1%).

JPFA is INNI’s top gainer after posting a 5.4% gain. The gain was attributable to curb of DOC supply, driving foreign inflows.

Daily Foreign & Domestic Sector Movement
JCI recorded foreign outflows of IDR231 billion, with the banking sectors posting the largest outflows of IDR238 billion. PT Bank Danamon Indonesia Tbk (BMDN) posted lower-than-estimate earnings. Its net profits lowered 15% y-y from IDR3.08 trillion in 3Q18 to IDR2.59 trillion in 3Q19. Declines in net profits also caused BMDN’s stocks to dip 1.09%. In addition, the Minister of Finance issued PMK Number 152/PMK.010/2019 on excise duties on tobacco products, rising 21.56% lower than 23%. However, cigarettes stocks such as HMSP and GGRM negatively responded to the excised duties and dipped 2.83% and 0.87%, respectively.

Download full report HERE.