The US market closed mixed on Tuesday (Mar 10): Dow -0.07%, S&P 500 -0.21%, and Nasdaq +0.01%. Major US stocks lost steam yesterday with S&P 500 giving up early gains to skid into negative territory as investors weighed fading hopes for earlier-than-expected end to the US-Israeli war on Iran against backdrop of renewed military threats and ongoing worries of economic stagflation. The US 10-year Treasury yield increased +1.46% to 4.156%, while the US Dollar Index slipped -0.35% to 98.83.

Commodity markets closed mostly lower on Tuesday (Mar 10): WTI crude fell -11.94% to USD 83.45/bbl, Brent crude dropped -11.28% to USD 87.80/bbl, coal declined -8.83% to USD 131.10/ton, CPO slid -3.04% to MYR 4,428/ton, and gold climbed +1.04% to USD 5,192/oz.

Asian markets closed higher on Tuesday (Mar 10): Hang Seng rose +2.17%, Nikkei jumped +2.88%, and Shanghai gained +0.65%. The JCI climbed +1.41% to 7,440.91, with foreign net sell of IDR 2,626.3 billion, consisting of IDR 1,932.8 billion net sell in the regular market and IDR 693.5 billion net sell in the negotiated market. The largest foreign net sells in the regular market were recorded in BBRI (IDR 434.4 billion), PTRO (IDR 186.1 billion), and TLKM (IDR 123.8 billion), while the largest foreign net buys were seen in ITMG (IDR 80.2 billion), MEDC (IDR 72.8 billion), and AADI (IDR 47.7 billion). Top leading movers were DSSA, BRMS, and BBCA, while top lagging movers were TLKM, BREN, and TPIA.

This morning, both KOSPI (+2.38%) and Nikkei (+1.86%) opened higher. Today, we expect the JCI to move up on the back of positive sentiment from regional markets.