The US market closed lower on Tuesday (Feb 3): the Dow fell 0.34%, the S&P 500 declined 0.84%, and the Nasdaq dropped 1.43%. The S&P 500 slid nearly 1% as investors sold technology stocks and rotated into shares more closely linked to economic recovery. The US 10-year Treasury yield fell 0.42% (-0.018) to 4.265%, while the US Dollar Index declined 0.22% to 97.40.

 

Commodity markets closed mixed on Tuesday (Feb 3): WTI crude rose 2.76% to USD 63.95/bbl, Brent crude gained 1.55% to USD 67.33/bbl, coal fell 1.29% to USD 115.10/ton, CPO slipped 0.33% to MYR 4,229/ton, and gold jumped 6.12% to USD 4,947/oz.

 

Asian markets closed higher on Tuesday (Feb 3): Hang Seng rose 0.22%, Nikkei surged 3.92%, and Shanghai increased 1.29%. The IHSG rose 2.52% to 8,122.6, with foreign net buy of IDR 833.8 billion; foreign net sell of IDR 759.8 billion in the regular market and net sell of IDR 74 billion in the negotiation market. The largest foreign net sells in the regular market were recorded in BMRI (IDR 278.2 billion), BBCA (IDR 256.5 billion), and ANTM (IDR 198.8 billion). Meanwhile, the largest foreign net buys in the regular market were seen in BUMI (IDR 199.8 billion), DEWA (IDR 115.3 billion), and RAJA (IDR 90.4 billion). Top leading movers were DCII, ASII, and TPIA, while top lagging movers were FILM, MORA, and TLKM.

 

This morning, the KOSPI opened higher (+0.32%) while the Nikkei opened lower (-1.00%). Today, we expect the IHSG to move sideways, pressured by MSCI-related issues.