MARKET REVIEW
Wall Street closed lower as strong PMI data and a weak Treasury auction pushed US yields to multi-decade highs. The S&P 500 fell 0.75%, the Nasdaq lost 1.13%, and the Dow Jones slipped 0.68%. In Europe, the EuroStoxx 50 eased 0.39% and the FTSE 100 dipped 0.03%.
Brent crude jumped 3.86% to USD 103.08/barrel as Iran rejected US threats and uncertainty over US-Iran talks persisted. Gold extended its decline overnight as strong US PMI data and hawkish Fed remarks lifted the dollar, but it is now trading at USD 4,289/oz, up 0.09% in early Asian trade.
The JCI closed up 1.56% to 6,375 yesterday after Bank Indonesia held the BI-Rate at 5.75%, led by consumer discretionary, energy and basic materials. The rupiah firmed to IDR 17,800/USD, while foreign investors posted net sells of IDR 461.34 billion. Today, investors will weigh Wall Street’s losses, surging US yields and firmer oil prices.
NEWS HIGHLIGHTS
- SOE – BP BUMN Trims Subsidiaries
- ARKO – Secures USD 9.8mn Solar Financing
- ASII – Tightens Non-Core Investments
- BIPP – Forms Hospitality Subsidiary
- BUVA – Invests in Bali Entertainment
- INET – Leads 6,870km Subsea Cable
- MGLV – Secures IDR 10.75tn BBNI Loans
- SMGR – Expands Biomass Fuel Use
- UNTR – Komatsu Sales Fall 21%
Regards, Aldiracita Research
