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JCI is Expected to Move Up Today
US stocks closed lower on Monday (1 Dec): Dow -0.90%, S&P 500 -0.53%, and Nasdaq -0.38%. Investors turned cautious following recent gains as concerns over interest rate path resurfaced, with Treasury yields edging higher ahead of upcoming economic data releases. The 10-year US Treasury yield rose +1.29% (+5.2 bps) to 4.091%, while the USD Index slipped -0.05% to 99.4140.
Commodity markets closed mostly higher on Monday (1 Dec): WTI oil +1.55% to USD 59.46/bbl, Brent oil +1.43% to USD 63.26/bbl, coal -1.86% to USD 108.35/ton, CPO -0.51% to MYR 4,093, and gold rose +0.44% to USD 4,273.7/oz.
Asian markets closed mixed on Monday (1 Dec): Nikkei -1.89%, Hang Seng +0.67%, and Shanghai +0.65%. The JCI rose +0.47% to 8,548.79, with net foreign sell of IDR 120.5 billion; IDR -104.3 billion in the regular market, and IDR -16.2 billion in the negotiated market. The largest foreign outflow in the regular market was recorded by BBRI (IDR 428.2 billion), followed by BUMI (IDR 192 billion), and MINA (IDR 74.8 billion). The largest foreign inflow in the regular market was recorded by FILM (IDR 179.9 billion), followed by BBCA (IDR 171.7 billion), and ENRG (IDR 126.1 billion). Top leading movers are TLKM, BBCA, DSSA, while top lagging movers are ASII, RISE, BRPT.
This morning, both Kospi (+0.99%) and Nikkei (+0.56%) opened higher. We expect the JCI to move upward today amid positive sentiment from regional markets.
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