The U.S. market closed lower on Friday (Mar 27): Dow -1.73%, S&P 500 -1.67%, and Nasdaq -2.15%. The Dow Jones Industrial Average fell nearly 800 points into correction territory as oil prices surged above USD 110 amid Strait of Hormuz tensions, extending the S&P 500’s fifth consecutive weekly loss. The U.S. 10-year Treasury yield increased 0.36% to 4.428%, while the U.S. Dollar Index gained 0.25% to 100.15.

 

Commodity markets also closed mostly higher on Friday (Mar 27): WTI crude rose 5.46% to USD 99.64/bbl, Brent crude increased 4.22% to USD 112.57/bbl, coal gained 1.30% to USD 143.85/ton, CPO slid 0.40% to MYR 4,631/ton, and gold climbed 2.70% to USD 4,494/oz.

 

Asian markets closed mostly higher on Friday (Mar 27): Hang Seng rose 0.38%, Nikkei fell 0.43%, and Shanghai gained 0.63%. The JCI fell 0.94% to 7,097.06, with foreign net sell of IDR 1,764.3 billion, consisting of IDR 1,894.6 billion net sell in the regular market and IDR 130.3 billion net buy in the negotiated market. The largest foreign net sells in the regular market were recorded in BBCA (IDR 1,125.3 billion), BBRI (IDR 343.9 billion), and BBNI (IDR 123.7 billion), while the largest foreign net buys were seen in ANTM (IDR 65.1 billion), EMAS (IDR 44.3 billion), and BUMI (IDR 33.9 billion). Top leading movers were MEGA, GIAA, and JPFA, while top lagging movers were ASII, TLKM, and BMRI.

 

This morning, both KOSPI (-4.43%) and Nikkei (-5.35%) opened lower. Today, we anticipate the JCI to decline amid negative sentiment across global and regional markets.