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JCI is Expected to Decline Today
US markets closed lower on Tuesday (3/9): Dow -1.51%, S&P 500 -2.12%, Nasdaq -3.26%. Market took a downturn from signs of weakness during the announcement of PMI as well as tech stocks such as NVIDIA lost -9%. The UST 10Y yield fell -0.075bps (-1.92%) to 3.8%, and USD Index rose +0.16% to 101.8.
Commodity market closed lower: WTI oil -4.30% to USD 70.4/bbl, coal -1.32% to USD 142.0/ton, nickel -1.53%, CPO -0.91% to MYR 3,933. and gold -0.25% to USD 2,493/toz.
Asian stocks closed mixed on Tuesday (3/9): Nikkei +0.14%, Hang Seng -1.67%, and Shanghai -1.10%. JCI ended the day at 7,617 (-1.01%), with foreign investors recording total net buy of IDR 116.8 billion: IDR 126.9 billion net buy in the regular market and IDR 10.1 billion net sell in the negotiated market. The largest foreign inflow in the regular market was recorded by BBRI (IDR 308.3 billion), followed by BREN (IDR 71.3 billion), and BBNI (IDR 36 billion). The largest foreign outflow in the regular market was recorded by BMRI (IDR 106.4 billion), followed by BRIS (IDR 48.5 billion), and ASII (IDR 46.1 billion). The top sector gainer was IDXHLTH sector, while the top sector loser was IDXTECH. The top leading movers were DNET, MSIN, BRMS, while top lagging movers were BREN, BMRI, TLKM.
Both Nikkei (-3.36%) and KOSPI (-2.72%) opened lower this morning. We expect JCI to move downwards today, given downturns accross all majority of the markets.
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