The U.S. market closed mostly lower on Tuesday (Feb 10): Dow +0.10%, S&P 500 -0.33%, and Nasdaq -0.59%. The S&P 500 ended lower amid weaker-than-expected retail sales data and investor concerns over the impact of artificial intelligence on the financial sector. The U.S. 10-year Treasury yield declined 1.33% (-0.056%) to 4.145%, while the U.S. Dollar Index slipped 0.01% to 96.85.
Commodity markets also closed lower on Tuesday (Feb 10): WTI crude fell 0.47% to USD 64.14/bbl, Brent crude dropped 0.35% to USD 68.80/bbl, coal declined 1.06% to USD 116.25/ton, CPO slid 1.56% to MYR 4,160/ton, and gold decreased 0.64% to USD 5,025/oz.
Asian markets closed higher on Tuesday (Feb 10): Hang Seng rose 0.58%, Nikkei jumped 2.28%, and Shanghai gained 0.13%. The JCI climbed 1.24% to 8,131.74, with foreign net sell of IDR 708.1 billion, consisting of IDR 917.5 billion net sell in the regular market and IDR 209.4 billion net buy in the negotiated market. The largest foreign net sells in the regular market were recorded in BUMI (IDR 483.1 billion), BBCA (IDR 328 billion), and DEWA (IDR 145.6 billion), while the largest foreign net buys were seen in BMRI (IDR 472.7 billion), TLKM (IDR 122.6 billion), and UNTR (IDR 72.2 billion). Top leading movers were ASII, BMRI, and CASA, while top lagging movers were BYAN, BBCA, and EMAS.
This morning, KOSPI opened higher (+0.19%) while Nikkei is closed. Today, we expect the JCI to move higher, supported by positive sentiment from regional markets.
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