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JCI is Expected to Decline Today
US stocks closed higher on Monday (9/9): Dow +1.20%, S&P 500 +1.16%, Nasdaq +1.16%. US stocks rebounded on Monday as investors bought the dip after Wall Street's worst week of the year, anticipating that a likely Federal Reserve rate cut later this month will support a slowing economy, with technology shares leading the gains. The UST 10Y yield fell -0.30% (-0.011 bps) to 3.705%, and USD Index rose +0.37% to 101.6.
Commodity market closed mostly higher on Monday (9/9); WTI oil +1.55% to USD 68.72/bbl, Brent oil +1.10% to USD 71.84/bbl, coal +0.11% to USD 141.7/ton, CPO -0.15% to MYR 3,895, and gold +0.38% to USD 2,507/toz.
Asian stocks closed lower on Monday (9/9): Kospi -0.33%, Hang Seng -1.42%, Nikkei -0.48%, and Shanghai -1.06%. JCI ended the day at 7,702.7 (-0.25%), with foreign investors recording an overall net buy of IDR 251.6 billion; IDR 422.5 billion net buy in the regular market, and IDR -170.9 billion net sell in the negotiated market. The largest foreign inflow in the regular market was recorded by BBNI (IDR 158.5 billion), followed by ADRO (IDR 96.3 billion), and BMRI (IDR 84.1 billion). The largest foreign outflow in the regular market was recorded by BBRI (IDR 99.8 billion), followed by ASII (IDR 40.6 billion), and ANTM (IDR 34.6 billion). The top leading movers were PANI, BBNI, and KLBF, while the top lagging movers were BBRI, BYAN, and SILO.
Both Nikkei (-0.26%) and KOSPI (-0.46%) opened lower this morning. We expect the JCI to decline today, given negative sentiments from regional markets.
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