The U.S. market closed lower on Monday (Jul 13): Dow -0.26%, S&P 500 -0.79%, and Nasdaq -1.55%. Wall Street fell as chip stocks tumbled and oil surged on renewed U.S.–Iran tensions. The U.S. 10-year Treasury yield increased 1.37% to 4.624%, while the U.S. Dollar Index gained 0.28% to 101.24.

 

Commodity markets also closed mostly higher on Monday (Jul 13): WTI crude rose 9.42% to USD 78.14/bbl, Brent crude increased 9.59% to USD 83.30/bbl, coal gained 1.75% to USD 131.00/ton, CPO went up 0.44% to MYR 4,533/ton, and gold decreased 2.85% to USD 4,002/oz.

 

Asian markets closed mostly lower on Monday (Jul 13): Hang Seng rose 0.16%, Nikkei fell 1.92%, and Shanghai fell 2.06%. The JCI climbed 1.92% to 6,037.84, with foreign net sell of IDR 437.6 billion, consisting of IDR 412.5 billion net sell in the regular market and IDR 25.1 billion net sell in the negotiated market. The largest foreign net sells in the regular market were recorded in BBCA (IDR 490.8 billion), MAPI (IDR 159.5 billion), and ASII (IDR 88.7 billion), while the largest foreign net buys were seen in TPIA (IDR 89.6 billion), BRPT (IDR 82.7 billion), and BMRI (IDR 65.7 billion). Top leading movers were BMRI, BBRI, and AMMN, while top lagging movers were CTBN, UNVR, and BOGA.

 

This morning, both KOSPI (-0.83%) and Nikkei (-0.74%) opened lower. Today, we expect the JCI to move up following S&P Global Ratings’ affirmation of Indonesia’s sovereign credit rating at BBB with a stable outlook.