Research & Stock Picks

Daily Report

06 November 2023

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JCI Might Continue its Upward Trend Today (6/11)

US stocks closed higher on Friday (11/3): Dow Jones +0.66%, S&P 500 +1.38% and Nasdaq +0.94%. Stocks rallied on Friday after a soft jobs report drove bond yields lower, and the major averages registered their best week in 2023. The UST 10Y yield fell -1.93% (-0.090 bps) to 4.576%, and the USD Index slipped -1.04% to 105.24.

 

Commodity market closed mixed on Friday (11/3): WTI oil -2.51% to USD 80.51/bbl, coal +2.08% to USD 122.50/ton, nickel +1.31% to USD 18,198, CPO -0.48% to MYR 3,762, and gold +0.28% to USD 1,992.20/toz.

 

Asian markets closed mixed on Friday (11/3); Nikkei +1.1%, Hang Seng +2.5%, Shanghai +0.7%, and KOSPI +1.1%. JCI ended Friday’s session at 6,788.9 (+0.55%), with foreign investors recording an overall net buy of IDR 309.6 billion; IDR 452.3 billion in the regular market, and IDR -142.7 billion in the negotiated market. The largest foreign inflow in the regular market was recorded by BBRI (IDR 223.4 billion), followed by BBCA (IDR 169.3 billion), and ASII (IDR 46.7 billion). The largest foreign outflow in the regular market was recorded by GOTO (IDR 41.3 billion), followed by BELI (IDR 25.9 billion), and MEDC (IDR 17.5 billion). The top leading movers were BBRI, ASII, and ADRO, while the top lagging movers were BMRI, AMMN, and TLKM.

 

Both Nikkei (+1.10%) and KOSPI (+2.06%) opened higher this morning. We expect the JCI to continue its upward trend today, supported by positive sentiments from global and regional markets.

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