MARKET REVIEW
The JCI fell 1.33% to 5,864 as hotter-than-expected US September inflation (3.7% YoY) lifted Fed hike expectations and kept US Treasury yields elevated, raising the risk of capital outflows from emerging markets. Caution ahead of the MSCI index review added to the pressure, leaving every sector in the red, with big caps BREN, DSSA, BBCA and TPIA dragging the index most.
Asian markets slumped as a deepening tech sell-off, sparked by the US inflation data and doubts over AI spending, hammered chipmakers. The KOSPI plunged 7.57% and the Nikkei lost 4.90%, while the Shanghai Composite fell 1.59%, the Hang Seng 1.03% and the ASX 200 0.09%.
European markets opened lower, tracking the risk-off tone in Asia. The STOXX 600 slipped 0.23%, the DAX fell 0.61% and the CAC 40 eased 0.25%, while the FTSE 100 was flat at -0.01%.
NEWS HIGHLIGHTS
- Global – OPEC Sees China Oil Demand Contracting
- BI – External Debt Rises 5.6% in August
- Danantara – Takes Direct Control of PLN Batam
- Domestic – Tax Office Taps 30 Digital VAT Collectors
- Commodity Sector – Palm Oil Exports Seen Falling 15.4%
- Construction Sector – Mid-Size Projects Shift to Private Firms
- MMIX – Targets 21.9% Revenue Growth in 2027
- PRDA – Plans 1:5 Stock Split
- PTRO – Plans 170mn-Share Rights Issue
- TPIA – Completes CA-EDC Deal with Danantara, INA
Regards, Aldiracita Research
