A flood of sentiments—negative sentiments in particular—dragged JCI to well below 1.3%. Despite foreign inflows of IDR869 billion, JCI nudged up 0.44% on Monday, 04/29/2019. That was underlined by investors’ wait-and-see stance ahead of the U.S. 1Q19 earnings season. JCI, on Tuesday, continued to strengthen as foreign investors posted inflows of IDR51 trillion, stemming from the merger between PT Bank Danamon Indonesia (BDMN) and PT Bank Nusantara Parahyangan Tbk (BBNP). On Thursday, JCI recorded foreign outflows of IDR191 billion as investors awaited outcomes of trade deals between the U.S. and China and the Fed’s stance of leaving FFR unchanged amid benign inflation. USDIDR depreciation weighed JCI down. On Friday, it weakened further as investors panicked the U.S. and China found no deals over tit-for-tat trade disputes. Both economic powerhouses are getting to next-week final laps, possible to end without deals and spreading jitters of new chapters of trade wars.
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