The U.S. market closed higher on Monday (Mar 16): Dow +0.83%, S&P 500 +1.01%, and Nasdaq +1.22%. The S&P 500 rebounded on Monday after three consecutive weeks of losses, supported by easing oil prices as investors monitored developments in the Iran war. The U.S. 10-year Treasury yield declined 1.42% to 4.216%, while the U.S. Dollar Index slipped 0.65% to 99.71.
Commodity markets also closed mostly lower on Monday (Mar 16): WTI crude fell 5.28% to USD 93.50/bbl, Brent crude dropped 2.84% to USD 100.21/bbl, coal declined 1.68% to USD 135.00/ton, CPO went up 1.79% to MYR 4,654/ton, and gold decreased 0.26% to USD 5,006/oz.
Asian markets closed mostly lower on Monday (Mar 16): Hang Seng rose 1.45%, Nikkei fell 0.13%, and Shanghai fell 0.26%. The JCI fell 1.61% to 7,022.29, with foreign net buy of IDR 1,022.8 billion, consisting of IDR 177.4 billion net buy in the regular market and IDR 845.4 billion net buy in the negotiated market. The largest foreign net sells in the regular market were recorded in BBCA (IDR 400.1 billion), BBNI (IDR 201.6 billion), and BBRI (IDR 131.3 billion), while the largest foreign net buys were seen in EMAS (IDR 564.6 billion), AADI (IDR 160.0 billion), and ARCI (IDR 82.4 billion). Top leading movers were EMAS, SMMA, and CPIN, while top lagging movers were DSSA, BRMS, and AMMN.
This morning, both the KOSPI (-2.32%) and Nikkei (-0.50%) opened lower. Today, we anticipate the JCI will move up amid positive sentiment from global and regional markets.
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