Morning Chatter

KBVS MORNING CHATTER
Friday, 1 August 2025

Headline News :
•    BBRI - 1H25 net income -11.25% yoy
•    BRMS - 2Q25 softer quarter, strong 1H25 performance
•    BELI - 2Q25 solid growth, margin gains continue
•    MARK - 2Q25 missed estimates on soft glove demand
•    PTBA - 2Q25 missed estimates, mild recovery in volume
•    MNCN - 2Q25 missed, digital now largest contributor
•    SCMA - 2Q25 missed, net profit rises on cost discipline 
•    ISAT – Books IDR2.3 tn net profit in 1H25
•    PWON – Books IDR1.4 tn net profit in 1H25
•    BSDE – Books IDR1.3 tn net profit in 1H25
•    MYOR – Net profit declined 32.08% yoy in 1H25
•    ICBP – Net profit grew 56% yoy in 1H25
•    UNVR – Shows signs of recovery with net profits rising to IDR2.2 tn in 1H25
•    CMRY – Revenue grew 16.59% yoy in 1H25 
•    PBID – Still relying on the domestic market
•    AMRT – Books an IDR1.88 tn net profit in 1H25, up 5.03% yoy
•    MDIY – Launches “Hemat Mat Mat” campaign
•    SMDR – Net profit grew 30% yoy in 1H25

Market Commentary :
On Thursday (31/07), US indices closed lower; DJIA (-0.74%), S&P 500 (-0.37%) and IXIC (-0.03%), as losses in the Healthcare, Consumer Goods and Financials sectors led shares lower. On economic data, US Personal Consumption Expenditure (PCE) and core PCE price index was up 2.6% yoy and 2.8% yoy respectively in June'25, but on monthly basis, both were maintained 0.3% mom. On US labor market, US weekly initial jobless claims was at 218k or better than anticipated (222k). Thus, USD index rose to 100.25, but US 10-Y bond yield was down to 4.38%. 
In Europe, STOXX600 closed 0.75% lower yesterday, as the market was disappointed by a series of corporate reports, i.e. Sanofi (NASDAQ:SNY), Ferrari, and beverage makers as they were strugling with the latest US tariff (around 15%). The good news was, EU unemployment rate was at 6.2% or better than anticipation. On commodity, oil prices were down, with Brent crude futures down 0.92% to USD71.80 a barrel, and US WTI was down 0.89% to USD69.38 a barrel, due to a toned down geopolitical tensions 
Yesterday, most of indices in Asia closed lower, with JCI closed 0.87% lower and recorded IDR1.26 tn net foreign outflow. The JCI may close lower today due to a stronger USD and a potential rebound in oil prices, even as geopolitical and economic uncertainties begin to ease.

Regards,
KBVS Research Team

 

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