The U.S. market closed higher on Tuesday (Mar 17): Dow +0.10%, S&P 500 +0.25%, and Nasdaq +0.47%. The U.S. stock market rose sharply as investors reacted to easing oil prices and temporary optimism about geopolitical tensions. The U.S. 10-year Treasury yield declined 0.42% to 4.199%, while the U.S. Dollar Index slipped 0.14% to 99.58.
Commodity markets also closed mostly lower on Tuesday (Mar 17): WTI crude rose 2.90% to USD 96.21/bbl, Brent crude increased 3.20% to USD 103.42/bbl, coal declined 0.19% to USD 134.75/ton, CPO slid 1.57% to MYR 4,581/ton, and gold decreased 0.02% to USD 5,006/oz.
Asian markets closed mostly lower on Tuesday (Mar 17): Hang Seng rose 0.13%, Nikkei fell 0.09%, and Shanghai fell 0.85%. The JCI climbed 1.20% to 7,106.84, with foreign net sell of IDR 679.2 billion, consisting of IDR 155.2 billion net buy in the regular market and IDR 834.4 billion net sell in the negotiated market. The largest foreign net sells in the regular market were recorded in BBCA (IDR 216.8 billion), BBRI (IDR 158.5 billion), and GOTO (IDR 64.3 billion), while the largest foreign net buys were seen in EMAS (IDR 727.8 billion), AADI (IDR 113.6 billion), and TLKM (IDR 72.9 billion). Top leading movers were DCII, TLKM, and MDKA, while top lagging movers were BREN, ASII, and GOTO.
This morning, both the KOSPI (+3.00%) and Nikkei (+2.98%) opened lower. Today, we expect the JCI to decline due to geopolitical tensions that occurred during the holiday, but with slight improvement as tensions ease.
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