MARKET REVIEW
Global equities weakened after the Federal Reserve raised its policy rate by 25bps to 3.75%-4.00% and signalled further tightening. The S&P 500 fell 0.45%, the Dow Jones lost 1.21%, and the Nasdaq was nearly unchanged. Asian trading was mixed: KOSPI rose 1.37% and Nikkei gained 0.69%, while the MSCI AC Asia Index declined 1.07%.
Commodities retreated as Middle East supply risks eased. Brent fell 2.69% to USD 105.83 per barrel as Saudi Arabia moved to restore capacity on its East-West pipeline. Gold dropped 2.03% to USD 4,264.80 per ounce following the Fed’s hawkish policy signal, as the stronger dollar and higher rate expectations reduced bullion’s appeal.
The JCI fell 0.38% to 6,436.85, with turnover of IDR 12.26tn and net foreign selling of IDR 592.05bn. BBCA, BMRI, DCII, TLKM, and BREN were the largest index drags, while BYAN, AMMN, IMPC, YULE, and BBRI led the gainers. The index is now down 25.56% year-to-date.
NEWS HIGHLIGHTS
- ADES – Forms New Trading Subsidiary
- AUTO – Exports Automation Systems Regionally
- BRMS – Completes Poboya Underground Portal
- ELSA – Completes South Java Seismic Support
- GEMS – Secures Mine Electrification Loan
- HOKI – Faces Fortified Rice Allegations
- MBMA – Launches IDR 1.38tn Buyback
- MGLV – Targets 102MW Data Centres
- MOLI – Evaluates Free Float Options
- PTRO – Acquires Logistics Terminal Subsidiary
Regards, Aldiracita Research
