US stocks closed lower on Wednesday (21/5): Dow -1.91%. S&P 500 -1.61%. Nasdaq -1.41%. The markets lost steam on Wednesday as bond yields continued to rise, putting pressure on equities while Wall Street grew concerned about the swelling US debt. The UST 10Y yield rose +2.79% (+0.125 bps) to 4.607%, while USD index fell -0.55% to 99.6.
Commodity market closed mixed on Wednesday (21/5): WTI oil -2.10% to USD 61.24/bbl, Brent oil -0.72% to USD 64.91/bbl, coal +0.19% to USD 105.85/ton, CPO -0.36% to MYR 3,896, and gold +0.70% to USD 3,313.5/oz.
Asian stock exchanges closed mostly higher on Wednesday (21/5): Kospi +0.91%. Hang Seng +0.62%. Nikkei -0.61%. and Shanghai +0.21%. JCI rose +0.67% to 7,142.5, with foreign investors recording net buy of IDR 960.4 billion; IDR 992.8 billion net buy in regular market and IDR 32.4 billion net sell in negotiated market. The largest foreign outflow in the regular market was recorded by CUAN (IDR 133.4 billion), followed by PGEO (IDR 66.4 billion), and ASII (IDR 65.6 billion). The largest foreign inflow in the regular market was recorded by BBCA (IDR 479.7 billion), followed by ANTM (IDR 258.8 billion), and BBRI (IDR 143.6 billion).. The top leading movers were BBCA, BBRI, and AMMN, while the top lagging movers were ASII, DCII, and GOTO.
Both Kospi (-0.55%) and Nikkei (-1.03%) opened lower this morning. We expect the JCI to move up today, supported by positive sentiments from the recently announced BI rate cut.
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