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JCI Might Move Sideways Today
US stocks closed higher on Monday (7/17); Dow Jones +0.22%, S&P 500 +0.1%, and Nasdaq +0.10%. This week, the momentum of the second-quarter earnings season intensifies as major financial institutions like Bank of America, Morgan Stanley, and Goldman Sachs report their results. The UST 10Y yield fell -1.3% (-0.51 bps) to 3.809%, and the USD index moved down -0.07% to 99,842.
Commodity market closed mostly lower on Monday (7/17); WTI oil -1,76% to USD 74.1/bbl, Brent +0.0% to USD 81/bbl, coal -0.42% to USD 131.10/ton, nickel closed at USD 20,924, CPO +1.0% to MYR 3,895, and gold -0.29% to USD 1,959/toz.
Asian stocks closed mixed on Monday (7/17); Kospi -0.4%, Nikkei -0.1%, Hang Seng +0.3%, and Shanghai -0.9%. JCI ended the session at 6,867 (-0.0%), with foreign investors recording a total net buy of IDR 622.1 billion; IDR 615.4 billion in the regular market, and IDR 6.7 billion in the negotiated market. The largest foreign inflow in the regular market was recorded by BBRI (IDR 266.8 billion), followed by BMRI (IDR 95.2 billion), and BUKA (IDR 50.6 billion). The largest foreign outflow in the regular market was recorded by BBCA (IDR 45.6 billion), followed by BBNI (IDR 37.4 billion), and ASII (IDR 24.3 billion). The top leading movers were BYAN, GOTO, BBRI, while the top lagging movers were ASII, MDKA, TPIA.
Nikkei rose +0.76% this morning, while KOSPI slipped -0.07%. We expect the JCI to move sideways today, given rather mixed sentiments from global and regional markets
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