MARKET REVIEW
Global equities weakened, with the S&P 500 falling 0.45%, the Nasdaq down 0.78%, and the Dow Jones declining 0.63%. European indices also retreated, while Asian markets were broadly softer: Hang Seng lost 1.00%, KOSPI fell 0.85%, and the MSCI AC Asia Index dropped 1.07%. The risk-off tone persisted ahead of the Federal Reserve’s policy decision.
Oil remained elevated as supply disruptions in Saudi Arabia and Libya tightened the global market. Brent rose 2.90% to USD 108.75 per barrel after Saudi Arabia’s East-West pipeline remained offline. Gold was little changed at USD 4,304.50 per ounce, as higher energy prices sustained inflation concerns and rate-hike expectations ahead of the Federal Reserve decision.
The JCI fell 1.13% to 6,461, with turnover of IDR 12.71tn and net foreign selling of IDR 354.2bn. BYAN, BBRI, BBCA, BMRI, and CASA were the largest index drags, while BREN, ANTM, KLBF, DSSA, and MAPI led the gainers. The index is now down 25.28% year-to-date.
NEWS HIGHLIGHTS
- ADCP – Faces PKPU Court Petition
- DRMA – Forms EV Components JV
- MKNT – Restores Positive Equity Base
- MNCN – Partners on Media Ecosystem
- TOWR – Develops Wi-Fi 8 Technology
- UVCR – Completes 9.59mn Share Buyback
Regards, Aldiracita Research
