The U.S. market closed lower on Tuesday (Mar 03): Dow -0.83%, S&P 500 -0.94%, and Nasdaq -1.02%. The Dow plunged as much as 1,200 points on Iran-conflict volatility before closing about 400 points lower, despite some easing after President Trump’s remarks. The U.S. 10-year Treasury yield increased 0.62% to 4.059%, while the U.S. Dollar Index gained 0.68% to 99.05.
Commodity markets also closed mostly higher on Tuesday (Mar 03): WTI crude rose 4.67% to USD 74.56/bbl, Brent crude increased 4.71% to USD 81.40/bbl, coal gained 7.23% to USD 138.00/ton, CPO went up 0.94% to MYR 4,186/ton, and gold decreased 4.38% to USD 5,089/oz.
Asian markets closed lower on Tuesday (Mar 03): Hang Seng fell 1.12%, Nikkei fell 3.06%, and Shanghai fell 1.43%. The JCI fell 0.96% to 7,939.77, with foreign net buy of IDR 3,448.0 billion, consisting of IDR 1,172.0 billion net sell in the regular market and IDR 4,620.0 billion net buy in the negotiated market. The largest foreign net sells in the regular market were recorded in ANTM (IDR 279.9 billion), BBRI (IDR 181.8 billion), and AADI (IDR 127.8 billion), while the largest foreign net buys were seen in BMRI (IDR 93.9 billion), PTBA (IDR 88.1 billion), and ENRG (IDR 60.8 billion). Top leading movers were ENRG, BRMS, and MDKA, while top lagging movers were BREN, BMRI, and ASII.
This morning, both KOSPI (-5.92%) and Nikkei (-2.60%) opened lower. Today, we expect the JCI to continue its decline amid uncertainties in global and regional markets.
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