MARKET REVIEW
Wall Street fell as a chipmaker selloff stretched to an eighth session on worries over debt-funded AI spending and rate-hike risk. The S&P 500 fell 1.09%, the Nasdaq lost 2.15% and the Dow Jones slipped 0.34%. In Europe, the EuroStoxx 50 rose 0.58% and the FTSE 100 gained 0.38%.
Brent climbed toward USD 110/barrel late last week on Strait of Hormuz disruption and drone strikes on Russian energy sites, but it is now at USD 108.00/barrel, down 1.69%. Gold edged up 0.28% to USD 4,160/oz, supported by safe-haven demand after the equity selloff.
The JCI plunged 11.57% to 5,185, its steepest fall since 1998, after MSCI proposed reclassifying Indonesia to Standalone status. The rupiah weakened to IDR 18,012/USD, while foreign investors posted net sells of IDR 3.35 trillion. Today, investors will weigh BEI’s clarification meeting with MSCI, the new 7% ARB limit and Wall Street’s tech-led losses.
NEWS HIGHLIGHTS
- BEI – Narrows ARB to 7%
- BEI – 358 Issuers Miss Free-Float
- Mining Sector – Revised RKAB Quotas Approved
- MSCI – BEI Seeks Clarification Today
- BMRI – Clarifies Jhonlin Loan Collateral
- DMAS – Lifts Presales Target 42%
- ERTX – Secures USD 9mn HSBC Limit
Regards, Aldiracita Research
