The U.S. market closed higher on Monday (Mar 09): Dow +0.50%, S&P 500 +0.83%, and Nasdaq +1.38%. The S&P 500 rebounded from earlier losses and the Dow rose about 200 points as oil prices fell after President Donald Trump signaled the war with Iran could be nearing its end. The U.S. 10-year Treasury yield declined 1.03% to 4.096%, while the U.S. Dollar Index gained 0.19% to 99.18.
Commodity markets also closed mostly higher on Monday (Mar 09): WTI crude rose 4.26% to USD 94.77/bbl, Brent crude increased 6.76% to USD 98.96/bbl, coal gained 4.73% to USD 143.80/ton, CPO went up 4.58% to MYR 4,567/ton, and gold decreased 0.64% to USD 5,139/oz.
Asian markets closed lower on Monday (Mar 09): Hang Seng fell 1.35%, Nikkei fell 5.20%, and Shanghai fell 0.67%. The JCI fell 3.27% to 7,337.37, with foreign net buy of IDR 1,109.8 billion, consisting of IDR 749.8 billion net buy in the regular market and IDR 360.0 billion net buy in the negotiated market. The largest foreign net sells in the regular market were recorded in BMRI (IDR 269.6 billion), BBRI (IDR 169.9 billion), and BBCA (IDR 106.8 billion), while the largest foreign net buys were seen in BUMI (IDR 137.8 billion), PTRO (IDR 134.5 billion), and MDKA (IDR 121.0 billion). Top leading movers were DCII, SMMA, and MORA, while top lagging movers were BBRI, BYAN, and BREN.
This morning, both the KOSPI (+5.07%) and the Nikkei (+2.67%) opened higher. Today, we expect the JCI to move up on the back of positive sentiment from global and regional markets.
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