JCI is Expected to Move Up Today
US stocks closed mostly higher on Monday (4/8): Dow +1.34%, S&P 500 +1.47%, Nasdaq +1.95%. Wall Street bounced back strongly as markets recovered from last week's sell-off driven by weak labor data and lingering trade concerns. The 10-year US Treasury yield fell -3.65% (-16.0 bps) to 4.220%, and the USD Index dropped -0.36% to 98.784.
Commodity markets closed mixed on Monday (4/8): WTI oil -1.57% to USD 66.27/bbl, Brent oil -1.31% to USD 68.76/bbl, coal -0.22% to USD 114.90/ton, CPO -1.39% to MYR 4,186, and gold +0.86% to USD 3,429.2/oz.
Asian markets closed mixed on Monday (4/8): Kospi -1.25%, Hang Seng +0.92%, Nikkei -1.25%, and Shanghai +0.66%. The JCI fell -0.97% to 7,464.65, with net foreign sell of IDR 1,017 billion; IDR -939.2 billion in the regular market, and IDR -77.8 billion in the negotiated market. The largest foreign outflow in the regular market was recorded by AMMN (IDR 226.4 billion), followed by BBRI (IDR 214 billion), and BMRI (IDR 158.2 billion). The largest foreign inflow in the regular market was recorded by TLKM (IDR 77.9 billion), followed by DSSA (IDR 47.7 billion), and EMTK (IDR 30.7 billion). Top leading movers were BMRI, TLKM, CDIA, while top lagging movers were AMMN, BREN, TPIA.
This morning, both Kospi (+1.89%) and Nikkei (+0.50%) opened higher. We expect the JCI to move upward today following positive cues from global and regional markets.
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