The U.S. market closed higher on Friday (Feb 6): the Dow rose +2.47%, the S&P 500 gained +1.97%, and the Nasdaq advanced +2.18%. The Dow surged 1,200 points to close above 50,000 for the first time, supported by a rebound in technology stocks after several days of heavy selling and a recovery in bitcoin after having plunged more than 50%. The U.S. 10-year Treasury yield rose +0.62% (+0.026%) to 4.206%, while the U.S. Dollar Index fell -0.32% to 97.63.
Commodity markets closed mixed on Friday (Feb 6): WTI crude rose +0.76% to USD 63.55/bbl, Brent crude increased +0.74% to USD 68.05/bbl, coal declined -0.30% to USD 117.25/ton, CPO fell -1.24% to MYR 4,206/ton, and gold jumped +3.88% to USD 4,964/oz.
Asian markets closed mostly lower on Friday (Feb 6): the Hang Seng fell -1.21%, the Nikkei rose +0.81%, and the Shanghai Composite slipped -0.25%. The JCI declined -2.08% to 7,935.26, with foreign net buying of IDR 944.3 billion, consisting of IDR 774.4 billion in the regular market and IDR 169.9 billion in the negotiated market. The largest foreign net buys in the regular market were recorded in BMRI (IDR 679.9 billion), BUMI (IDR 171.4 billion), and TLKM (IDR 157.6 billion). The largest foreign net sells were seen in BBRI (IDR 213.5 billion), BBCA (IDR 109.1 billion), and MDKA (IDR 61.1 billion). The top leading movers were TLKM, SMMA, and AMRT, while the top lagging movers were BBCA, BBRI, and ASII.
This morning, both the KOSPI (+4.29%) and the Nikkei (+5.17%) opened higher. Today, we expect the JCI to rise, supported by positive sentiment from global and regional markets.
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