The U.S. market closed lower on Thursday (Mar 12): Dow -1.56%, S&P 500 -1.52%, and Nasdaq -1.78%. U.S. markets ended lower as surging oil prices linked to the Iran conflict raised concerns over inflation and potential supply disruptions. The U.S. 10-year Treasury yield increased 0.74% to 4.261%, while the U.S. Dollar Index gained 0.51% to 99.74.
Commodity markets also closed mostly higher on Thursday (Mar 12): WTI crude rose 9.72% to USD 95.73/bbl, Brent crude increased 9.22% to USD 100.46/bbl, coal gained 2.85% to USD 138.75/ton, CPO went up 0.93% to MYR 4,541/ton, and gold decreased 1.88% to USD 5,079/oz.
Asian markets closed lower on Thursday (Mar 12): Hang Seng declined 0.70%, Nikkei slipped 1.04%, and Shanghai edged down 0.10%. The JCI fell 0.37% to 7,362.12, with foreign net buy of IDR 1,001.1 billion; IDR 905.5 billion in the regular market, and IDR 95.6 billion in the negotiated market. The largest foreign inflow in the regular market was recorded by ADRO (IDR 209.7 billion), followed by AADI (IDR 196.3 billion), and BMRI (IDR 194.9 billion). The largest foreign outflow in the regular market was recorded by BBRI (IDR 153.5 billion), followed by BBNI (IDR 126.5 billion), and INCO (IDR 62.8 billion). Top leading movers are DCII, BBCA, BMRI, while top lagging movers are BREN, DSSA, BRMS.
This morning, both KOSPI (-2.41%) and Nikkei (-1.55%) opened lower. Today, we anticipate the JCI to decline amid negative sentiment across global and regional markets.
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