The U.S. market closed mostly higher on Thursday (Jun 04): Dow +1.73%, S&P 500 +0.41%, and Nasdaq -0.09%. The Dow jumped nearly 900 points to a record close as investors rotated out of chip stocks and into non-tech names. The U.S. 10-year Treasury yield declined 0.48% to 4.473%, while the U.S. Dollar Index slipped 0.12% to 99.41.
Commodity markets also closed mostly lower on Thursday (Jun 04): WTI crude fell 3.10% to USD 93.04/bbl, Brent crude dropped 2.84% to USD 95.03/bbl, coal declined 0.64% to USD 147.05/ton, CPO slid 1.62% to MYR 4,601/ton, and gold climbed 0.90% to USD 4,475/oz.
Asian markets closed lower on Thursday (Jun 04): Hang Seng fell 1.48%, Nikkei fell 1.36%, and Shanghai fell 0.64%. The JCI fell 1.70% to 5,839.79, with foreign net sell of IDR 1,270.7 billion, consisting of IDR 1,433.8 billion net sell in the regular market and IDR 163.1 billion net buy in the negotiated market. The largest foreign net sells in the regular market were recorded in BBCA (IDR 463.6 billion), BBRI (IDR 451.6 billion), and TPIA (IDR 257.5 billion), while the largest foreign net buys were seen in MDKA (IDR 99.9 billion), ADRO (IDR 53.2 billion), and DEWA (IDR 44.8 billion). Top leading movers were SMMA, AMMN, and TLKM, while top lagging movers were BBRI, BBCA, and BRPT.
This morning, both the KOSPI (-5.27%) and Nikkei (-1.46%) opened lower. Today, we expect the JCI to move higher today, supported by a rebound after the recent sharp decline.
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