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US stocks closed lower on Tuesday (5/2); Dow Jones -1.08%, S&P 500 -1.16%, and Nasdaq -1.08%. Following the Wall Street crisis in March, which led to the failure of Silicon Valley Bank and First Republic Bank, investors began to doubt the stability of smaller regional financial institutions. In addition, the Fed is anticipated to announce another quarter-point rate hike on Wednesday to cap off its two-day policy meeting, which began on Tuesday. UST 10Y yield declined -3.84% to 3.43%, and the USD index went up -0.19% to 101.96.
Commodity market experienced a mixed closing on Tuesday (5/2); WTI oil -5.4% to USD 71.59/bbl, Brent -0.2% to USD 86/bbl, coal +1.30% to USD 187.55/ton, nickel +2.87% to USD 24,955 and CPO +1.76 to MYR 3,412. Gold +1.69% to USD 2,025/toz.
Asian stocks closed higher on Tuesday (5/2); Kospi +0.91%, Nikkei +0.12%, Hang Seng +0.20%, and Shanghai closed yesterday. JCI fell -0.76% to 6,863. Foreign investors record an overall net buy of IDR 204.7 billion; IDR 226.6 billion in the regular market, and IDR -21.9 billion in the negotiated market. The largest foreign inflow in the regular market was recorded by BMRI (IDR 171 billion), followed by ASII (IDR 110.9 billion), and MDKA (IDR 66.4 billion). The largest foreign outflow in the regular market was recorded by TLKM (IDR -201.7 billion), followed by BBCA (IDR -91.7 billion), and BTPS (IDR -81.7 billion). Today's top sector gainer is IDXCYC sector, while today's top sector loser is IDXENER . Top leading movers are BMRI, BBRI, BBNI, while top lagging movers are TLKM, UNTR, BYAN.
Nikkei rose +0.12% this morning, while KOSPI fell -0.46%. We expect the JCI to move sideways today, given the mixed sentiments from global and regional markets.
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