The U.S. market closed higher on Tuesday (May 05): Dow +0.73%, S&P 500 +0.81%, and Nasdaq +1.03%. Yesterday, Wall Street closed higher on the back of strong corporate earnings and easing oil prices. The U.S. 10-year Treasury yield declined 0.32% to 4.424%, while the U.S. Dollar Index gained 0.07% to 98.44.
Commodity markets also closed mostly higher on Tuesday (May 05): WTI crude fell 3.90% to USD 102.27/bbl, Brent crude dropped 3.99% to USD 109.87/bbl, coal gained 0.36% to USD 139.70/ton, CPO went up 1.90% to MYR 4,710/ton, and gold climbed 0.77% to USD 4,557/oz.
Asian markets closed higher on Tuesday (May 05): Hang Seng fell 0.76%, Nikkei closed, and Shanghai closed. The JCI climbed 1.22% to 7,057.11, with foreign net sell of IDR 518.3 billion, consisting of IDR 317.9 billion net sell in the regular market and IDR 200.4 billion net sell in the negotiated market. The largest foreign net sells in the regular market were recorded in BMRI (IDR 342.2 billion), BBCA (IDR 144.8 billion), and ANTM (IDR 116.6 billion), while the largest foreign net buys were seen in BBRI (IDR 244.5 billion), BRPT (IDR 138.0 billion), and BUVA (IDR 50.7 billion). Top leading movers were TLKM, BBRI, and BREN, while top lagging movers were DSSA, GOTO, and TPIA.
This morning, KOSPI opened higher at +5.09%. Today, we expect the JCI to move up on the easing of global crude oil prices.
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