The U.S. market closed mostly lower on Monday (May 04): Dow -1.43%, S&P 500 -0.11%, and Nasdaq +0.70%. Dow drops 550 points as rising oil prices and escalating Iran tensions fuel market fears. The U.S. 10-year Treasury yield increased 1.55% to 4.438%, while the U.S. Dollar Index gained 0.32% to 98.37.
Commodity markets also closed mostly higher on Monday (May 04): WTI crude rose 1.28% to USD 106.42/bbl, Brent crude increased 0.38% to USD 114.44/bbl, coal gained 3.88% to USD 139.20/ton, CPO went up 1.14% to MYR 4,622/ton, and gold decreased 2.08% to USD 4,522/oz.
Asian markets closed mixed on Monday (May 04): Hang Seng rose 1.24%, Nikkei fell 0.21%, and Shanghai closed. The JCI climbed 0.22% to 6,971.95, with foreign net buy of IDR 1,921.4 billion, consisting of IDR 791.2 billion net sell in the regular market and IDR 2,712.6 billion net buy in the negotiated market. The largest foreign net sells in the regular market were recorded in BMRI (IDR 316.8 billion), GOTO (IDR 172.7 billion), and BBCA (IDR 147.3 billion), while the largest foreign net buys were seen in TINS (IDR 91.6 billion), BRPT (IDR 74.0 billion), and BBNI (IDR 41.9 billion). Top leading movers were TLKM, BBRI, and BREN, while top lagging movers were DSSA, GOTO, and TPIA.
This morning, both the KOSPI and Nikkei are closed. Today, we expect the JCI to move sideways, supported by mixed sentiment from global and regional markets.
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