MARKET REVIEW
Wall Street closed mostly higher as lower long-term Treasury yields and energy prices eased fears of back-to-back Fed hikes. The S&P 500 rose 0.28%, the Nasdaq slipped 0.02%, and the Dow Jones gained 1.02%, while the EuroStoxx 50 fell 0.38% and the FTSE 100 lost 0.29%.
Brent slipped overnight as renewed US-Iran mediation efforts pulled prices off five-month highs, but it is now trading at USD 109.98/barrel, up 1.09% in early Asian trade. Gold eased 0.12% to USD 4,128/oz as higher oil prices revived inflation worries and markets priced a possible December Fed hike.
The JCI closed up 5.65% to 5,279 yesterday as the exchange moved to drop high shareholding concentration stocks from the index after MSCI’s warning, led by banks and TLKM. The rupiah stood at IDR 17,987/USD, while foreigners posted net sells of IDR 2.21 trillion. Today, investors will weigh Bank Indonesia’s rate decision and firmer oil prices.
NEWS HIGHLIGHTS
- Banking – SOE Banks Weigh Buybacks
- AXIO – Sets IDR 46.72bn Dividend
- BMAS – Draws USD 85mn KBank Loan
- CENT – Refinances IDR 12.48tn Debt
- DMAS – Sets IDR 1.39tn Dividend
- EMAS – Plans 10% Private Placement
- PGEO – Targets 1.8GW by 2034
- PSGO – Fire Hits Subsidiary Mill
- TINS – Secures IDR 4tn Mandiri Facility
- VISI – Raises IDR 120bn Placement
Regards, Aldiracita Research
