The U.S. market closed mostly lower on Monday (May 18): Dow +0.32%, S&P 500 -0.07%, and Nasdaq -0.51%. The Nasdaq and S&P 500 fell on Monday as tech weakness weighed, while investors monitored oil prices, bond yields, and Middle East tensions. The U.S. 10-year Treasury yield declined 0.13% to 4.587%, while the U.S. Dollar Index slipped 0.09% to 99.19.
Commodity markets also closed higher on Monday (May 18): WTI crude rose 3.07% to USD 108.66/bbl, Brent crude increased 2.60% to USD 112.10/bbl, coal gained 1.10% to USD 138.00/ton, CPO went up 2.19% to MYR 4,534/ton, and gold climbed 0.59% to USD 4,567/oz.
Asian markets closed lower on Monday (May 18): Hang Seng fell 1.11%, Nikkei fell 0.97%, and Shanghai fell 0.09%. The JCI fell 1.85% to 6,599.24, with foreign net sell of IDR 463.6 billion, consisting of IDR 460.0 billion net sell in the regular market and IDR 3.6 billion net sell in the negotiated market. The largest foreign net sells in the regular market were recorded in ANTM (IDR 315.0 billion), BREN (IDR 152.5 billion), and AMMN (IDR 149.0 billion), while the largest foreign net buys were seen in BBCA (IDR 107.1 billion), BMRI (IDR 84.8 billion), and TLKM (IDR 59.2 billion). Top leading movers were TLKM, BYAN, and ASII, while top lagging movers were DSSA, TPIA, and BBRI.
This morning, the KOSPI opened lower (-1.27%), while the Nikkei opened higher (+0.83%). Today, we expect the JCI to move sideways as selling pressure eases following yesterday’s decline.
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