The U.S. market was closed on Monday (May 25) due to Memorial Day.
Commodity markets closed mixed on Monday (May 25): WTI crude was closed, Brent crude dropped 7.15% to USD 96.14/bbl, coal was flat at USD 136.45/ton, CPO slid 0.29% to MYR 4,473/ton, and gold climbed 1.35% to USD 4,571/oz.
Asian markets closed mostly higher on Monday (May 25): Hang Seng was closed, Nikkei jumped 2.87%, and Shanghai gained 0.96%. The JCI climbed 0.72% to 6,206.35, with foreign investors posting a net sell of IDR 2,221.3 billion, consisting of IDR 2,088.7 billion in the regular market and IDR 132.6 billion in the negotiated market. The largest foreign net sells in the regular market were recorded in AMMN (IDR 226.1 billion), BMRI (IDR 197.5 billion), and BUMI (IDR 160.7 billion), while the largest foreign net buys were seen in BBRI (IDR 147.1 billion), MDKA (IDR 112.1 billion), and BBCA (IDR 82.1 billion). The top leading movers were BBRI, BBCA, and ASII, while the top lagging movers were BRPT, DSSA, and AMRT.
This morning, the KOSPI opened higher (+3.16%), while the Nikkei opened lower (-0.27%). Today, we expect the JCI to move sideways, supported by a market rebound, although foreign net selling remains a key overhang.
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