Market Review
Wall Street closed at record highs on June 2, driven by a tech rally led by Nvidia following a new PC chip launch. The S&P 500 rose 0.26%, the Nasdaq gained 0.42%, and the Dow Jones edged up 0.09%. In Europe, the STOXX 600 fell 0.5% as renewed Gulf hostilities and conflicting Iran-US peace talk signals dampened sentiment.
Brent crude settled at USD 91.12/barrel, up 4.24%, as Iran threatened to suspend peace talks, keeping Hormuz disruption risk alive. Gold retreated to USD 4,560.5/oz, down 1.87%, as strong US manufacturing data reinforced higher-for-longer rate bets. Coal firmed to USD 136.75/ton, up 2.60%.
The JCI closed down 0.05% to 6,127.38 on May 29, the final session before the Idul Adha break. Foreign investors recorded net sells of IDR 8,519.77 billion on the day, extending year-to-date outflows to IDR 45.45 trillion. The rupiah held at IDR 17,789/USD.
News Highlights
- Global – Trump Moves to Salvage Iran Talks
- Commodity Sector – Indonesia Launches DSI Commodity Export
- EMAS – Starts Deep Drilling 3,600m at Pani
- MEJA – Acquires 45% Coal Mine for US$100M
- SINI – Plans Rp3.6T Rights Issue for Coal
- SOCI – Secures Rp3T Financing from SMI
Regards, Aldiracita Research
