US stocks closed higher on Thursday (3/23): Dow Jones +0.23%, S&P 500 +0.30% and Nasdaq +1.01%. The market ended a turbulent trading session in the green as traders bet that the Fed might end its rate hike cycle soon, prompting them to start accumulating tech stocks (Microsoft, Nvidia, and Apple all advanced). The UST 10 yield slipped -1.07% to 3.45%, and the USD Index rose +0.18% to 102.5.
Commodity market was quite mixed: WTI oil fell -0.73% to USD 69.5/bbl, coal rose +0.06% to USD 176.7/ton, nickel slipped -1.13% to USD 22,511, and CPO fell -0.26 to MYR 3,571. Meanwhile, gold went up +1.2% to USD 2,011/toz.
Asian markets closed mixed on Thursday (3/23); Nikkei fell -0.17%, Hang Seng rose +2.34%, Shanghai went up +0.64% and EIDO gained +0.58%. JCI ended Tuesday’s (3/21) session at 6,691.6 (+1.20%) with net foreign buy of IDR 537.8 billion in the regular market and IDR 43.1 billion net foreign sell in the negotiated market. The largest foreign inflow in the regular market was recorded by BMRI (IDR 349 billion), followed by TLKM (IDR 143.4 billion), and BBRI (IDR 107.3 billion)). The largest foreign outflow in the regular market was recorded by GOTO (IDR 97.7 billion), followed by UNTR (IDR 24.1 billion), and GGRM (IDR 18.3 billion). The top leading movers were BMRI, TLKM, and BBCA, while the top lagging movers were MIKA, INDF, and UNTR.
Both Nikkei (-0.21%) and KOSPI (-0.13%) opened lower this morning. We expect a sideways session for JCI today, given mixed sentiments from global and regional markets.
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