The U.S. market closed mostly higher on Thursday (Jul 02): Dow +1.14%, S&P 500 +0.00%, and Nasdaq -0.80%. Gains in the Dow were driven by rotation into cyclical and value names following the June jobs data, while weakness in Tesla and continued pressure on semiconductor and AI-related stocks dragged the Nasdaq lower. The U.S. 10-year Treasury yield increased 0.4 bps to 4.483%, while the U.S. Dollar Index slipped 0.53% to 100.86.
Commodity markets also closed mostly higher on Thursday (Jul 02): WTI crude rose 0.16% to USD 68.69/bbl, Brent crude increased 0.32% to USD 71.80/bbl, coal declined 0.12% to USD 129.25/ton, CPO slid 1.12% to MYR 4,506/ton, and gold climbed 2.28% to USD 4,122/oz.
Asian markets closed lower on Thursday (Jul 02): Hang Seng fell 0.75%, Nikkei fell 2.47%, and Shanghai fell 2.03%. The JCI climbed 0.87% to 5,744.56, with foreign net sell of IDR 237.8 billion; IDR -322.6 billion in the regular market, and IDR 84.8 billion in the negotiated market. The largest foreign outflow in the regular market was recorded by BBRI (IDR 194.6 billion), followed by MAPI (IDR 82.6 billion), and ASII (IDR 75.7 billion). The largest foreign inflow in the regular market was recorded by BBCA (IDR 143.1 billion), followed by TPIA (IDR 83.9 billion), and BMRI (IDR 75.4 billion). Top leading movers are BBCA, BMRI, BRPT, while top lagging movers are MORA, BREN, BYAN.
This morning, both KOSPI (-0.49%) and Nikkei (-1.36%) opened lower. Today, we expect the JCI to move down due to weak opening momentum from regional markets.
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