JCI Might Sideways Today
US market was closed on Monday (9/4) for Labor Day. Meanwhile, European markets closed flat, giving up their earlier gains (Stoxx 600 went up by +0.8% at one point) in a relatively slow trading day (trading volumes were below the 30-day average by almost a third). The UST 10Y yield rose +0.024bps (+0.57%) to 4.2%, and the USD Index closed at 104.2.
Commodity market was quite mixed: WTI oil +0.36% to USD 85.9/bbl, coal +0.19% to USD 156.6/ton, nickel closed at USD 21,014, CPO -1.36% to MYR 3,985, and gold -0.14% to USD 1,964/toz.
Asian markets closed higher; Nikkei +0.7%, Hang Seng +2.5%, and Shanghai +1.4%. EIDO rose +0.87%, and JCI ended yesterday’s session at 6,997 (+0.3%), with foreign investors recording an overall net buy of IDR 468.1 billion; IDR 278.7 billion in the regular market, and IDR 189.4 billion in the negotiated market. The largest foreign inflow in the regular market was recorded by BBNI (IDR 407.1 billion), followed by BBRI (IDR 55 billion), and BRMS (IDR 34.4 billion). The largest foreign outflow in the regular market was recorded by BBCA (IDR 100.3 billion), followed by TLKM (IDR 70.2 billion), and MEDC (IDR 40.1 billion). The top leading movers were BBRI, BBNI, and AMMN, while top lagging movers were GOTO, BRPT, and CPIN.
Nikkei (+0.05%) opened higher this morning, while KOSPI (-0.15%) opened lower. We expect the JCI to move sideways today, given rather mixed sentiments from global and regional markets.