JCI Might Move Up Today
US stocks closed higher on Monday (8/28); Dow Jones +0.62%, S&P 500 +0.63%, and Nasdaq +0.84%. Several tech stocks, including Meta, Apple, and Nvidia, gained some points, and 3M stocks went up by more than 5% after sources indicated that the company is prepared to resolve lawsuits related to alleged defects in its earplugs. The UST 10Y yield went down -0.69% (-0.029 bps) to 4.202%, and the USD index fell -0.02% to 104.06.
Commodity market mostly went up on Monday; WTI oil +0.3% to USD 80.07/bbl, Brent +0.3% to USD 85/bbl, coal +0.16% to USD 164/ton, nickel closed at USD 20.771, CPO -1.31% to MYR 3,911, and gold +0.44% to USD 1,948/toz.
Asian markets moved up; Kospi +1.0%, Nikkei +1.7%, Hang Seng +1.00%, and Shanghai +1.1%. JCI ended Monday’s session at 6,922 (+0.38%), with foreign investors recording an overall net buy of IDR 1.37 trillion; IDR -271.5 billion net sell in the regular market, and IDR 1.64 trillion net buy in the negotiated market. The largest foreign inflow in the regular market was recorded by BMRI (IDR 90.7 billion), followed by EXCL (IDR 23.9 billion), and BRMS (IDR 20.7 billion). The largest foreign outflow in the regular market was recorded by BBCA (IDR 243.2 billion), followed by INCO (IDR 48.4 billion), and BBRI (IDR 46.2 billion). The top leading movers were BMRI, BRPT, and AMMN, while the top lagging movers were BBRI, BBCA, and TLKM.
Both Nikkei (+0.36%) and KOSPI (+0.26%) opened higher this morning. We expect the JCI to move up today, given positive sentiments from global and regional markets