Research & Stock Picks

Morning Briefs

19 November 2024

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JCi is Expected to Move Up Today (19/11)

US stocks closed mostly higher on Monday (18/11): Dow -0.13%, S&P 500 +0.39%, Nasdaq +0.60%. S&P and Nasdaq managed to recover some of their losses as Tesla resumed its post-election rally; investors are now looking ahead to the release of Nvidia’s earnings to see the trend in AI. The UST 10Y yield fell -0.63% (-0.028 bps) to 4.416%, and the USD index declined -0.46% to 106.19.

 

Commodity markets closed mostly higher on Monday (18/11): WTI oil +3.19% to USD 67.02/bbl, Brent oil +2.70% to USD 72.96/bbl, coal +0.00% to USD 141.75/ton, CPO -3.03% to MYR 4,900, and gold +1.89% to USD 2,611/toz.

 

Asian stocks closed mixed on Monday (18/11): Kospi +2.16%, Nikkei -1.09%, Hang Seng +0.77%, and Shanghai -0.21%. EIDO +0.15%, while JCI ended the day at 7,134.3 (-0.38%), with foreign investors recording an overall net sell of IDR 982.6 billion; IDR 1,053.8 billion net sell in the regular market, and IDR 71.2 billion net buy in the negotiated market. The largest foreign outflow in the regular market was recorded by BBRI (IDR 487.2 billion), followed by BBCA (IDR 293.3 billion), and ADRO (IDR 266.4 billion). The largest foreign inflow in the regular market was recorded by GOTO (IDR 37.1 billion), followed by BUMI (IDR 35 billion), and INDF (IDR 33.2 billion). The top leading movers were AMMN, GOTO, BRMS, while top lagging movers were BBRI, BBCA, BREN.

 

Both Nikkei (+0.63%) and KOSPI (+0.32%) opened higher this morning. We expect the JCI to move up today, supported by positive sentiments from global and regional markets.

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