The U.S. market closed mostly higher on Tuesday (Jul 28): Dow +1.03%, S&P 500 +0.21%, and Nasdaq -0.98%. Major US indexes ended broadly stronger as strong corporate earnings and falling oil prices offset the continued slump in semiconductor stocks. The U.S. 10-year Treasury yield declined 4.25bps to 4.606%, while the U.S. Dollar Index slipped 0.12% to 101.42.
Commodity markets also closed lower on Tuesday (Jul 28): WTI crude fell 4.06% to USD 79.26/bbl, Brent crude dropped 4.83% to USD 84.09/bbl, coal declined 1.25% to USD 130.85/ton, CPO slid 0.66% to MYR 4,642/ton, and gold decreased 1.14% to USD 4,030/oz.
Asian markets closed mostly lower on Tuesday (Jul 28): Hang Seng rose 0.41%, Nikkei fell 3.95%, and Shanghai fell 1.16%. The JCI fell 0.89% to 6,130.59, with foreign net sell of IDR 1,065.3 billion, consisting of IDR 788.5 billion net sell in the regular market and IDR 276.8 billion net sell in the negotiated market. The largest foreign net sells in the regular market were recorded in BMRI (IDR 150.1 billion), BBRI (IDR 135.6 billion), and TPIA (IDR 50.9 billion), while the largest foreign net buys were seen in TINS (IDR 33.5 billion), BRPT (IDR 32.0 billion), and BBCA (IDR 19.0 billion). Top leading movers were ASII, BYAN, and AMRT, while top lagging movers were MPRO, BBCA, and BMRI.
This morning, both the KOSPI (+1.79%) and the Nikkei (+0.81%) opened higher. Today, we expect the JCI to move higher, supported by positive opening momentum across regional markets.
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