US markets closed mostly higher on Tuesday (11 Nov): Dow +1.18%, S&P 500 +0.21%, and Nasdaq -0.25%. The Dow reached a new record high as optimism grew that Washington would soon end the longest government shutdown in history, while tech stocks weakened on Nvidia’s decline. The 10-year US Treasury yield fell -1.12% (-4.6 bps) to 4.072%, while USD Index slipped -0.14% to 99.475.

 

Commodity markets closed mostly higher on Tuesday (11 Nov): WTI crude +1.45% to USD 61.02/bbl, Brent +1.72% to USD 65.2/bbl, coal -1.33% to USD 111.3/ton, CPO +0.61% to MYR 4,137/ton, and gold +0.27% to USD 4,126.9/oz.

 

Asian markets closed mixed on Tuesday (11 Nov): Nikkei -0.14%, Hang Seng +0.18%, and Shanghai -0.39%. The JCI slipped -0.29% to 8,366.52, with net foreign sell of IDR 649.3 billion (IDR 638.8 billion in the regular market and IDR 10.5 billion in the negotiated market). The largest foreign outflows in the regular market were recorded by BBCA (IDR 394.1 billion), DEWA (IDR 152.5 billion), and BBRI (IDR 140 billion), while the largest inflows were seen in BUMI (IDR 493.3 billion), GOTO (IDR 122.4 billion), and ASII (IDR 98.1 billion). Top leading movers were BUMI, TLKM, and ASII, while top lagging movers were BBCA, BREN, and BBRI.

 

This morning, Asian markets opened slightly lower; Kospi -0.01% and Nikkei -0.17%. We expect the JCI to strengthen today, supported by positive sentiment from global and commodity markets.