MARKET REVIEW
The JCI slid 1.88% to 6,031, closing at its session low, as a hawkish Fed outlook weighed on emerging-market assets after the September FOMC minutes kept another hike on the table and 10-year US Treasury yields hovered near their highest since 2002. Softer September consumer confidence added to the caution, while selling concentrated in BBRI, AMMN, BMRI and BREN.
Asian markets fell broadly as elevated US bond yields after the Fed minutes curbed risk appetite. The KOSPI led losses, down 2.62%, while Shenzhen fell 1.63%, the Hang Seng 1.43% and the Nikkei 1.42%. India’s Sensex lost 1.44%, the ASX 200 0.77% and the SET 0.86%.
European markets opened mostly lower. The DAX 40 fell 0.88% and the CAC 40 0.72%, pulling the STOXX 600 down 0.37%, while the FTSE 100 opened flat.
NEWS HIGHLIGHTS
- BI – Consumer Confidence Slips to 118.1
- OJK – Sees Limited MSCI Exit Risk
- Domestic – Prabowo Launches USD 10.2bn IWIP Projects
- Domestic – Ride-Hailing Rule Sets 8% Fee
- Commodity Sector – CPO Rebounds on Indian Demand
- Coal Sector – ADRO, PTBA Step Up Exploration
- Construction Sector – ADHI-PTPP Merger Set for November
- BUAH – Sets IDR 20bn Interim Dividend
- WBSA – Adds Tugboats, Barges Worth IDR 48bn
- WIFI – IRA Network Tops 3,100 Sites
Regards, Aldiracita Research
