Market Recap
JCI snapped higher on Friday, 01/18/19, on the back of the banking’s best performance. The miscellaneous sector also rallied as December’s motor vehicles sales posted gains. Top Gainers: Misc. Industry (+1.93%), Finance (+0.82%), Mining (+0.61%).
Daily Foreign & Domestic Sector Movement
Overseeing the continued net foreign buy of IDR928 billion, we digest that foreign investors are confident in Indonesia’s conducive political circumstances. The banking, the most favored sector by foreign investors, posted the net buy of IDR674 billion. Its large market capitalizations have made it clear that foreign investors will buy as much as possible to have profitable exposure to Indonesia.
Unlike foreign investors, domestic investors remained to favor over coal stocks as they accumulate the net buy of IDR409 billion due to the rally of 4.5% on week-to-week coal prices.
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