|
Market Recap JCI close lower as the banking sector tanked. JCI’s Top Losers: Mining (-1.9%), Misc. Ind (-1.7%), Basic Ind. (-0.6%). INNI index plunged and recorded worse performance than JCI. As political unrest against controversial bills dragged INNI’s portfolios down. |
|
Daily Foreign & Domestic Sector Movement Foreign investors pulled out their funds of IDR773 billion from JCI; that was a nine-day losing streak. Unlike JCI, most of Asia markets were at bearish close after Chinese officials will re-schedule a visit to farms in Montana. In the domestic backdrop, Indonesia’s political unrest fueled fears as foreign investors fled their money from Indonesia; large cap. stocks positioning as the top 5 foreign outflows portrayed the concerns. The rupiah Indonesia, meanwhile, was depreciated 0.02 to 14,114 against USD. |
|
Today’s Outlook: APBN Deficit Grows Larger The Dow Jones dipped 0.35% to 26,807 after the US Congress announced to impeachment inquiry into Trump. Trump’s intimidating speech against what he considered China’s unfair trade before the UN fueled markets’ fear. In the domestic backdrop, the Ministry of Finance projects state budget (APBN) deficit to widen if tax revenues are lower than the estimated amount. |
|
Company News BMRI : Revenues from Remittance Transfers BBRI : Promotes Digital Platform for Start-up BBCA : Pursues KPR Distribution Domestic & Global News APBN Deficit Widens to 1.24% from Aug. GDP Consumer Confidence Falls Sharply in September |
Download full report HERE
