The U.S. market closed mostly lower on Wednesday (Jun 24): Dow +0.35%, S&P 500 -0.10%, and Nasdaq -0.43%. Yesterday, Wall Street ended the session mostly lower, pressured by continued pullbacks in megacap technology and AI-related chip stocks. The U.S. 10-year Treasury yield declined 10.47bps to 4.392%, while the U.S. Dollar Index gained 0.20% to 101.61.

Commodity markets also closed lower on Wednesday (Jun 24): WTI crude fell 3.92% to USD 70.34/bbl, Brent crude dropped 4.33% to USD 73.74/bbl, coal declined 1.94% to USD 129.05/ton, CPO slid 0.54% to MYR 4,633/ton, and gold decreased 2.86% to USD 3,999/oz.

Asian markets closed mostly higher on Wednesday (Jun 24): Hang Seng rose 0.33%, Nikkei fell 0.88%, and Shanghai gained 0.11%. The JCI fell 3.56% to 5,883.88, with foreign net sell of IDR 1,170.5 billion, consisting of IDR 1,231.2 billion net sell in the regular market and IDR 60.7 billion net buy in the negotiated market. The largest foreign net sells in the regular market were recorded in BBRI (IDR 272.8 billion), TPIA (IDR 218.1 billion), and AMMN (IDR 111.5 billion), while the largest foreign net buys were seen in BREN (IDR 219.4 billion), ANTM (IDR 39.1 billion), and INDF (IDR 17.4 billion). Top leading movers were MORA, BBCA, and BYAN, while top lagging movers were TLKM, BMRI, and AMMN.

This morning, both KOSPI (+2.25%) and Nikkei (+2.31%) opened higher. Today, we expect the JCI to move up on the back of declining global oil prices and positive sentiment from strong opening in regional markets.