MARKET REVIEW
Wall Street fell as disappointing earnings, including Meta’s, revived doubts over the AI trade and hit chipmakers. The S&P 500 fell 1.21%, the Nasdaq lost 2.60%, and the Dow Jones edged up 0.02%. In Europe, the EuroStoxx 50 dropped 1.96%, while the FTSE 100 slipped 0.26%.
Brent crude jumped about 4% overnight to a five-month high on Houthi attacks in Saudi Arabia and now trades at USD 113.03/barrel, down 0.12%. Gold slid about 2.7% to a two-month low as oil-driven inflation worries lifted Fed hike bets, and now trades at USD 4,039/oz, up 0.03%.
The JCI closed up 1.12% to 5,388 yesterday, led by SOE banks after Danantara began buying shares. The rupiah weakened to IDR 18,038/USD and foreign investors posted net sells of IDR 1.49 trillion. Today, investors will weigh Wall Street’s tech sell-off, firm oil prices and HSC stocks leaving the JCI from 2 November.
NEWS HIGHLIGHTS
- BEI – Reinstates FILM HSC Status
- Cement Sector – Sept Demand Rises 3%
- BYAN – BEI Questions Transfer Price
- DCII – 9M26 Profit Rises 11.5%
- DEWA – Sets Up Logistics Subsidiary
- PGUN – 9M26 Profit Rises 33.53%
- PPGL – Plans 6:4 Bonus Shares
- PTPP – 9M26 Profit Jumps 46-Fold
- TSPC – Sets IDR 338bn Interim Dividend
- WSKT – 9M26 Revenue Jumps 53.73%
Regards, Aldiracita Research
