The US stocks closed higher on Wednesday (3/5): Dow +1.14%, S&P 500 +1.12%, Nasdaq +1.46%. The US markets rallied on Wednesday after President Trump provided a one-month auto tariff exemption for Mexico and Canada. 10Y UST yield rose +0.92% (+0.039bps) to 4.285%, while the USD Index weakened -1.36% to 104.3.

 

Commodities market showed mixed movements on Wednesday (3/5); WTI oil prices dropped -2.86% to USD 66.31/bbl, Brent oil fell -2.46% to USD 69.45/bbl, coal prices rose +2.56% to USD 104.10/ton, and CPO increased +1.47% to MYR 4,418. Gold prices edged up slightly by +0.05% to USD 2,919.39/oz.

 

Asian stock markets closed higher on Wednesday (3/5): Kospi +1.16%, Hang Seng +2.84%, Nikkei +0.23%, and Shanghai +0.53%. JCI closed higher at 6,531.4 (+2.37%), with foreign investors recorded an overall net sell of IDR 78 billion; IDR 119 billion in the regular market, and IDR -197 billion in the negotiated market. The largest foreign outflow in the regular market was recorded by BMRI (IDR 421.6 billion), followed by PTRO (IDR 54 billion), and BRIS (IDR 46.2 billion). The largest foreign inflow in the regular market was recorded by BBRI (IDR 147.5 billion), followed by BBCA (IDR 119.7 billion), and RATU (IDR 53.5 billion). Top leading movers are BBCA, AMRT, CASA, while top lagging movers are AMMN, TPIA, BREN.

 

This morning, Kospi opened higher at +0.47%, and Nikkei gained +0.85%. We expect JCI to move up today on the back of positive sentiment from regional markets.