The US markets closed higher on Wednesday (Jan 21): Dow +1.21%, S&P 500 +1.16%, and Nasdaq +1.18%. Wall Street ended higher on Wednesday as investors were buoyed by news that framework for an agreement on Greenland had been reached and the possibility of new US tariffs on European allies had been averted. The 10-year U.S. Treasury yield went down -0.49% (-0.021bps) to 4.246%, while the USD Index increased +0.24% to 98.8.

Commodity markets closed higher on Wednesday (Jan 21): WTI crude +0.53% to USD 60.66/bbl, Brent crude +2.18% to USD 65.25/bbl, coal +0.71% to USD 113.00/ton, CPO +1.44% to MYR 4,154/ton, and gold +1.40% to USD 4,829.39/oz.

Asian markets closed mixed on Wednesday (Jan 21): Kospi +0.49%, Hang Seng +0.37%, Nikkei -0.41%, and Shanghai +0.08%. The JCI went down -1.36% to 9,010.3 with foreign net sell of IDR 1,897.0 billion; IDR -1,884.7 billion in the regular market, IDR 564.3 million in the negotiated market, and IDR -12.9 billion in the cash market. The largest foreign outflow in the regular market was recorded by BBCA (IDR 1729.8 billion), followed by BUMI (IDR 456 billion), and UNTR (IDR 133.7 billion). The largest foreign inflow in the regular market was recorded by ASII (IDR 172.9 billion), followed by ANTM (IDR 162.9 billion), and INCO (IDR 147.4 billion). Top leading movers are DSSA, RMKE, ANTM, while top lagging movers are BBCA, ASII, UNTR.

This morning, both KOSPI (+1.92%) and Nikkei (+1.02%) are trading higher. Today, we anticipate the JCI to move up on the back of positive sentiment from regional and global markets.