US stocks closed higher on Wednesday (12/6): Dow +0.24%, S&P 500 +0.38%, and Nasdaq +0.24%. The markets gained steam as President Trump once again urged the Fed to cut interest rates significantly, citing easing inflationary pressures. The UST 10Y yield dropped -1.27% (-0.056 bps) to 4.362%, while the USD Index fell -0.72% to 97.9.
Commodity prices mostly weakened on Wednesday (12/6): WTI oil -0.41% to USD 68.53/barrel, Brent oil -0.59% to USD 69.40/barrel, coal +0.75% to USD 107.50/ton, CPO remained unchanged at MYR 3,839, and gold +0.92% to USD 3,385.9/oz.
Asian stock exchanges closed slightly higher on Wednesday (12/6): Kospi +0.45%, Hang Seng -1.36%, Nikkei -0.65%, and Shanghai +0.01%. The JCI fell -0.25% to 7,204.4, with foreign investors recording net sell of IDR 282.2 billion; IDR 211.6 billion in regular market and IDR 70.6 billion in negotiated market. The largest foreign outflow in the regular market was recorded by ADRO (IDR 74.6 billion), followed by PGAS (IDR 62.6 billion), and PGEO (IDR 61.4 billion). Conversely, the largest foreign inflow was recorded by BRMS (IDR 112.4 billion), followed by BBNI (IDR 53.3 billion), and ANTM (IDR 49.7 billion). The top leading movers were AMMN, BBCA, and DSSA, while the top lagging movers were TPIA, PGAS, and BREN.
Both Kospi (-0.52%) and Nikkei (-1.34%) opened lower this morning. We expect the JCI to decline today, pressured by negative sentiment from regional markets.
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