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JCI Might Move Sideways Today
US stock market was closed on Monday (5/29) due to Memorial Day, while stock futures went up Monday night after the Biden administration and Republican lawmakers reached a tentative deal to raise the US debt ceiling, preventing a default. Meanwhile, European markets showed mixed reactions towards the tentative deal; DAX -0.2%, Stoxx 600 -0.1%, and FTSE +0.74%. The UST 10Y yield fell -0.63% to 3.773%, and the USD index closed at 104.21.
Commodity market was quite mixed on Monday (5/29); WTI oil +0.37% to USD 72.9/bbl, Brent -0.3% to USD 77/bbl, coal closed at USD 140.65/ton, nickel closed at USD 24.846, CPO -0.25% to MYR 3,545, and gold -0.07% to USD 1,962/toz.
Asian markets closed higher: Kospi +0.72%, Nikkei +0.11%, Shanghai +0.28%. JCI fell -0.09% to 6,681, with foreign investors recording an overall net sell of IDR 422.6 billion; IDR -310 billion in the regular market, and IDR -112.6 billion in the negotiated market. The largest foreign outflow in the regular market was recorded by BBRI (IDR -124.5 billion), followed by TLKM (IDR -123.1 billion), and BBCA (IDR -85.1 billion). The largest foreign inflow in the regular market was recorded by GOTO (IDR 84 billion), followed by ADRO (IDR 46.2 billion), and UNVR (IDR 35.8 billion). Top leading movers were TLKM, GOTO, and KLBF, while the top lagging movers were BYAN, BBRI, and BUMI.
Nikkei (+0.36%) opened higher this morning, while KOSPI is closed for the day. We expect the JCI to move sideways today, given mixed sentiments from global and regional markets.
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