Market Recap
JCI pointed higher, backed by the banking sector. JCI’s Top Gainers: Mining (+3.5%), Consumer (+2.3%), Property (+2.2%).
INNI index closed higher as the mining stocks, i.e., ANTM (+5.3%) outshone due to the worsening trade wars between the US and China.
Daily Foreign & Domestic Sector Movement
Although JCI recorded ~2% gains, foreign outflows of IDR148 billion still weighed down its performance. But the banking stocks came to rescue as BBRI and BBCA outperformed by gaining foreign funds of IDR59 billion and IDR57 billion, respectively on Monday’s trading session of Dec. 02. The banking stocks’ remaining path in 2019 is still promising despite the currently tight banking liquidity. Apart from Indonesia markets, Asia markets were rebound amid concerns over the uncertain partial deals between the US and China.
Meanwhile, the rupiah exchange rate for USD slid 0.12% to 14,125.
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