US stocks closed higher on Monday (4/3); Dow Jones +0.98%, S&P 500 +0.37%, and Nasdaq -0.37%. The market showed some resilience despite the oil production cut of 1.16 million oil barrels per day from OPEC+, which might provide some boost for inflation and fuel recession fears. The UST 10Y yield fell -1.67% to 3.415%, and the USD index slipped -0.47% to 102.16.

 

Commodity market mostly went up on Monday (4/3); WTI oil +6.28% to USD 80.42/bbl, Brent +5.00% to USD 84/bbl, coal +3.63% to USD 200/ton, CPO +3.38% to MYR 3,885, while nickel slipped -2.88% to USD 23,061 and gold fell -0.58% to USD 2,000/toz.

 

Asian markets closed slightly higher on Monday: Kospi -0.18%, Nikkei +0.52%, Hang Seng +0.04%, and Shanghai +0.72%. JCI ended Monday’s session at 6,827.17 (+0.32%) with net foreign buy of IDR 590.8 billion in the regular market and net foreign sell of IDR 104.3 billion in the negotiated market. The largest foreign inflow in the regular market was recorded by BBRI (IDR 254.8 billion), followed by BBCA (IDR 186.5 billion), and BMRI (IDR 82.4 billion). The largest foreign outflow in the regular market was recorded by ITMG (IDR 53.5 billion), followed by UNTR (IDR 48.8 billion), and ADMR (IDR 37.2 billion). The top leading movers were BMRI, ASII, and TPIA, while the top lagging movers were GOTO, BBCA, and TLKM.

 

Asian markets opened mixed this morning (Nikkei +0.52%, Kospi -0.18%). We expect the JCI to move sideways today, given the mixed sentiments from global and regional markets.