JCI Hit Hardest Last Week
Last week, JCI was suffered as it tumbled deepest among its global equity peers. foreign securities companies’ analysts revised downwards JCI’s rating from 20%, an overweight state, to 10%, an underweight state, dragged JCI sharpest. They argued JCI’s bullish favor from May 2018 to date is at the overbought of 34% compared to emerging markets’ MSCI indexes. Additionally, the banking sector with the highest valuation and BI’s hawkish stance sent a fear full signal of domestic liquidity tightening, stunting the growth in the banking sector. Last week’s foreign net sell of IDR3.3 trillion narrated the 2019 biggest net sell. On YTD basis, foreign investors still posted the
net buy of IDR10.9 trillion in Indonesia’s equity market.

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