The U.S. market closed mostly higher on Monday (Mar 02): Dow -0.15%, S&P 500 +0.04%, and Nasdaq +0.36%. The S&P 500 finished nearly flat after rebounding from early losses as traders bought the dip following U.S. and Israeli strikes on Iran. The U.S. 10-year Treasury yield increased 2.46% to 4.035%, while the U.S. Dollar Index gained 0.79% to 98.38.

 

Commodity markets also closed higher on Monday (Mar 02): WTI crude rose 6.28% to USD 71.23/bbl, Brent crude increased 7.26% to USD 77.74/bbl, coal gained 10.09% to USD 128.70/ton, CPO went up 2.60% to MYR 4,147/ton, and gold climbed 0.82% to USD 5,322/oz.

 

Asian markets closed mostly lower on Monday (Mar 02): Hang Seng fell 2.14%, Nikkei fell 1.35%, and Shanghai gained 0.47%. The JCI fell 2.65% to 8,016.83, with foreign net sell of IDR 631.3 billion, consisting of IDR 490.9 billion net sell in the regular market and IDR 140.4 billion net sell in the negotiated market. The largest foreign net sells in the regular market were recorded in MEDC (IDR 528.0 billion), BBCA (IDR 196.4 billion), and BBNI (IDR 119.0 billion), while the largest foreign net buys were seen in ANTM (IDR 156.6 billion), PTRO (IDR 146.9 billion), and AADI (IDR 145.9 billion). Top leading movers were ENRG, BRMS, and MDKA, while top lagging movers were BREN, BMRI, and ASII.

This morning, both KOSPI (-2.16%) and Nikkei (-0.79%) opened lower. Today, we expect the JCI to continue its decline amid uncertainties in global and regional markets.