US stocks closed higher on Wednesday (16/7): Dow +0.53%, S&P 500 +0.32%, Nasdaq +0.25%. The markets initially faced a dip due to concerns that Trump might be preparing to fire Fed chair Jerome Powell, only to rebound later after Trump denied the rumor. The US 10-Year Treasury yield rose -0.69% (+0.031 bps) to 4.460%, and the USD index fell -0.23% to 98.4.
Commodity market closed mixed on Wednesday (16/7): WTI oil -0.21% to USD 66.65/bbl, Brent oil -0.28% to USD 68.52/bbl, coal -0.45% to USD 115.50/ton, CPO +1.49% to MYR 4,225, and gold +0.70% to USD 3,349.7/oz.
Asian markets closed lower on Wednesday (16/7): Kospi -0.90%, Hang Seng -0.29%, Nikkei -0.04%, and Shanghai -0.03%. JCI rose +0.72% to 7,192.0, with net foreign sell of IDR 1,094.6 billion; IDR 964.8 billion in regular market and IDR 129.8 billion in negotiated market. The largest foreign outflow in the regular market was recorded by BMRI (IDR 797.2 billion), followed by BBCA (IDR 316.4 billion), and SSIA (IDR 53.1 billion). The largest foreign inflow in the regular market was recorded by ASII (IDR 77.9 billion), followed by CUAN (IDR 70.5 billion), and ANTM (IDR 56.9 billion). The top leading movers were DCII, DSSA, and CDIA, while the top lagging movers were TPIA, BYAN, and AMRT.
Both Kospi (-0.86%) and Nikkei (-0.54%) opened lower this morning. Given negative sentiment from regional markets, we expect the JCI to decline today.
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