The U.S. market closed higher on Friday (May 22): Dow +0.58%, S&P 500 +0.37%, and Nasdaq +0.19%. The Dow rose over 270 points to a record close as oil prices eased and hopes grew for a Middle East conflict resolution. The U.S. 10-year Treasury yield declined 0.26% to 4.558%, while the U.S. Dollar Index slipped 0.02% to 99.24.
Commodity markets also closed mostly higher on Friday (May 22): WTI crude rose 0.26% to USD 96.60/bbl, Brent crude increased 0.94% to USD 103.54/bbl, coal declined 0.80% to USD 136.45/ton, CPO went up 0.63% to MYR 4,486/ton, and gold decreased 0.74% to USD 4,509/oz.
Asian markets closed higher on Friday (May 22): Hang Seng rose 0.86%, Nikkei jumped 2.68%, and Shanghai gained 0.87%. The JCI climbed 1.10% to 6,162.05, with foreign net sell of IDR 309.5 billion, consisting of IDR 1,068.4 billion net sell in the regular market and IDR 758.9 billion net buy in the negotiated market. The largest foreign net sells in the regular market were recorded in BBCA (IDR 322.3 billion), BMRI (IDR 287.8 billion), and TPIA (IDR 156.3 billion), while the largest foreign net buys were seen in MDKA (IDR 173.6 billion), TINS (IDR 80.9 billion), and INCO (IDR 73.2 billion). Top leading movers were MDKA, EMAS, and BRMS, while top lagging movers were TLKM, ASII, and BYAN.
This morning, the KOSPI is closed, while the Nikkei opened higher (+2.10%). Today, we expect the JCI to rebound after a week of decline, supported by positive sentiment from regional and global markets.
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