The U.S. market closed higher on Wednesday (May 20): Dow +1.31%, S&P 500 +1.08%, and Nasdaq +1.54%. Yesterday, Wall Street closed stronger as oil prices and U.S. Treasury yields slid amid growing optimism that the conflict in the Middle East could soon be resolved. The U.S. 10-year Treasury yield declined 1.73% to 4.586%, while the U.S. Dollar Index slipped 0.24% to 99.09.
Commodity markets also closed mostly lower on Wednesday (May 20): WTI crude fell 8.82% to USD 98.26/bbl, Brent crude dropped 5.63% to USD 105.02/bbl, coal declined 1.40% to USD 137.45/ton, CPO slid 0.04% to MYR 4,583/ton, and gold climbed 1.37% to USD 4,544/oz.
Asian markets closed lower on Wednesday (May 20): Hang Seng fell 0.57%, Nikkei fell 1.23%, and Shanghai fell 0.18%. The JCI fell 0.82% to 6,318.50, with foreign net buy of IDR 249.2 billion, consisting of IDR 130.8 billion net sell in the regular market and IDR 380.0 billion net buy in the negotiated market. The largest foreign net sells in the regular market were recorded in BBCA (IDR 375.7 billion), BBRI (IDR 221.0 billion), and TPIA (IDR 140.5 billion), while the largest foreign net buys were seen in BUMI (IDR 223.4 billion), BMRI (IDR 217.7 billion), and ADRO (IDR 111.3 billion). Top leading movers were MORA, SMMA, and BMRI, while top lagging movers were BRPT, TPIA, and BREN.
This morning, both KOSPI (+5.88%) and Nikkei (+3.11%) opened higher. Today, we expect the JCI to move sideways amid mixed sentiment from global and domestic market.
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