JCI Might Move Sideways Today
US stocks closed higher on Monday (7/3); Dow Jones +0.03%, S&P 500 +0.12%, and Nasdaq +0.12%. U.S. markets closed early before the Fourth of July holiday and will also be closed on Tuesday. Last Friday, the Nasdaq Composite achieved its highest first-half gain since 1983, surging by 31.7%. Simultaneously, the S&P 500 experienced its best first-half performance since 2019, with a significant jump of 15.9%. These remarkable gains were fueled by the excitement surrounding artificial intelligence, which boosted tech stocks.The UST 10Y yield rose +0.31% (+0.012 bps) to 3.853%, and the USD index rose +0.07% to 102.99.
Commodity market moved down on Monday (7/3); WTI oil -0.7% to USD 70.15/bbl, Brent +0.9% to USD 76/bbl, coal -1.10% to USD 148.1/ton, nickel closed at USD 20,434 and CPO +5.34% to MYR 3,985. Gold -0.03% to USD 1,929/toz.
Asian markets moved sideways: Kospi -1.49%, Nikkei +1.4%, Hang Seng +2.06%, and Shanghai +0.62%, with foreign investors recording an overall net buy of IDR 253.1 billion; IDR 194.8 billion in the regular market, and IDR 58.3 billion in the negotiated market. The largest foreign inflow in the regular market was recorded by BMRI (IDR 237.8 billion), followed by BBRI (IDR 105.9 billion), and BBNI (IDR 75.6 billion). The largest foreign outflow in the regular market was recorded by BBCA (IDR 327.7 billion), followed by UNTR (IDR 81.1 billion), and PTBA (IDR 34.4 billion). Today's top sector gainer is IDXENER sector, while today's top sector loser is IDXTECH. Top leading movers are MDKA, BYAN, INKP, while top lagging movers are BBRI, GOTO, ARTO.
Kospi rose +0.02% this morning, and Nikkei slipped -0.61%. We expect the JCI to move sideways today, given the mixed sentiments from global and regional markets.