U.S. stocks closed slightly higher on Monday (5/15); Dow Jones +0.14%, S&P 500 +0.3%, and Nasdaq +0.66%. The U.S. market showed minimal movement as Wall Street prepared for a budget meeting between congressional leaders and President Joe Biden on Tuesday, which will discuss the possibility of raising U.S. debt ceiling. The UST 10Y yield rose +1.27% to 3.507%, and the USD index fell -0.26% to 102.43.
Commodity market was quite mixed on Monday (5/15); WTI oil +1.9% to USD 71.43/bbl, Brent +0.3% to USD 74/bbl, coal -0.7% to USD 163.75/ton, nickel -0.34% to USD 21,837 CPO -0.87% to MYR 3,541, and gold -0.01% to USD 2.021/toz.
Asian markets closed mostly higher on Monday; Kospi +0.2%, Nikkei +0.8%, Hang Seng +1.8%, and Shanghai +1.2%. JCI rose +0.1% to 6,712, with foreign investors recording an overall net buy of IDR 269.6 billion; -IDR 159.7 billion net sell in the regular market, and IDR 429.3 billion net buy in the negotiated market. The largest foreign inflow in the regular market was recorded by GOTO (IDR 91.7 billion), followed by ICBP (IDR 70.7 billion), and ASII (IDR 42.8 billion). The largest foreign outflow in the regular market was recorded by BBCA (IDR 162.5 billion), followed by TLKM (IDR 68.1 billion), and ADRO (IDR 59.4 billion). Top leading movers were ASII, CPIN, and BMRI, while the top lagging movers were BYAN, ADRO, and BBNI.
Nikkei went up +0.61% this morning, and KOSPI rose +0.63%. We expect the JCI to continue its rebound today, given positive sentiments from regional markets.