U.S. stock markets closed lower on Tuesday (January 13), with the Dow Jones down 0.80%, the S&P 500 down 0.19%, and the Nasdaq down 0.10%. The S&P 500 declined as investors sold JPMorgan shares despite better-than-expected performance, while grappling with volatility triggered by a series of proposals floated by President Donald Trump in recent days. The U.S. 10-year Treasury yield fell 0.14% (–0.6 bps) to 4.178%, while the U.S. Dollar Index rose 0.28% to 99.16.

 

Commodity markets were mixed on Tuesday (January 13). WTI crude oil prices rose 2.38% to USD 61.03 per barrel, Brent crude gained 2.51% to USD 65.47 per barrel, coal prices increased 1.16% to USD 108.65, CPO prices declined 0.64% to MYR 4,064, while gold prices fell 0.24% to USD 4,586.5 per ounce.

 

Most Asian stock markets closed higher on Tuesday (January 13), with the Hang Seng up 0.90% and the Shanghai Composite down 0.64%, while the Nikkei surged 3.10%. Indonesia’s Composite Index (JCI) closed higher by 0.72% at 8,948.3. Foreign investors recorded a total net buy of IDR 1,986 billion. In the regular market, foreign investors posted a net buy of IDR 1,446.6 billion, while the negotiated market saw foreign net buying of IDR 539.4 billion. The largest foreign net buys in the regular market were recorded in INCO (IDR 274.8 billion), ASII (IDR 229.3 billion), and MBMA (IDR 197.9 billion). Meanwhile, the largest foreign net sells were recorded in HRTA (IDR 113 billion), BBCA (IDR 98.9 billion), and BBRI (IDR 92.8 billion). The top leading movers were ASII, TLKM, and MBMA, while the top lagging movers were BRMS, BUMI, and IMPC.

 

This morning, the Kospi index opened higher by 0.20%, while the Nikkei also opened up 0.90%. We expect the JCI to trade higher today, supported by positive sentiment from international and regional markets.