US stocks closed mostly lower on Friday (8/18): Dow Jones +0.07%, S&P 500 -0.01%, and Nasdaq -0.20%. Nasdaq suffered as most major tech stocks continued their decline, including Meta, Amazon, Microsoft, and Alphabet, notching its third consecutive losing week (the first since December). Investors are anticipating Nvidia's latest quarterly results, which are scheduled to be released on Wednesday. Additionally, they are looking forward to Fed Chair Jerome Powell's speech in Jackson Hole on Friday morning. The UST 10Y yield fell -0.035bps (-0.82%) to 4.29%, and the USD Index fell -0.19% to 103.37.
Commodity market was quite mixed: WTI oil +1.07% to USD 81.25/bbl, coal +1.70% to USD 149.5/ton, nickel -0.77% to USD 20,169.5, CPO +1.97% to MYR 3,922, and gold +0.07% to USD 1,916.5/toz.
Asian markets closed lower; Nikkei -0.6%, Hang Seng -2.1%, and Shanghai -1.0%. JCI ended Friday’s session at 6,860 (-0.6%), with foreign investors recording an overall net sell of IDR 258.2 billion; IDR -509.2 billion in the regular market, and IDR 251 billion in the negotiated market. The largest foreign outflow in the regular market was recorded by ASII (IDR 167.5 billion), followed by TLKM (IDR 122.6 billion), and BBCA (IDR 66.5 billion). The largest foreign inflow in the regular market was recorded by BMRI (IDR 43.4 billion), followed by EXCL (IDR 34.2 billion), and BBRI (IDR 30.1 billion). The top leading movers were BBRI, ADMR, and AMMN, while the top lagging movers were ASII, TLKM, and BBCA.
Both Nikkei (-0.43%) and KOSPI (-0.61%) opened lower this morning. We expect the JCI to decline today, given negative sentiments from global and regional markets.