Morning Chatter

KBVS MORNING CHATTER
Wednesday, 1 April 2026

Headline News :
•    ANTM - Beat FY25 driven by Gold ASP, but 4Q margin weakness emerges
•    DMND – A double digit net profit growth in FY25
•    BIRD – Net profit grew 8.7% yoy in FY25 on higher revenue
•    DSNG – Net profit grew 60.2% yoy in FY25
•    GJTL – Net profit grew 4.7% yoy in FY25
•    FORE – An impressive double digit net profit growth in FY25
•    MDLA – Net profit grew 16.0% yoy in FY25
•    UNTR – Allocates IDR2 tn for a new share buyback program

Market Commentary :
U.S. stocks ended sharply higher on Tuesday (Dow +2.49%, S&P +2.91%, Nasdaq +3.83%) lifted by speculation about a potential de-escalation in the Middle East conflict that has sent oil prices soaring and ‌fueled fears of global inflation in recent weeks. In rates and FX, the U.S. 10-year Treasury yield fell -1bps (-0.23%) to 4.314%, while the U.S. Dollar Index to 99.96 (-0.48%).
Commodities moved mostly weaker: Coal -1.25% to USD142.44/ton; CPO -0.6% to MYR4,829/ton; Brent oil -9.22% to USD103.84/bbl; and gold +3.48% to USD4,668/oz. 
Asian markets mostly declined on Tuesday (Nikkei -1.58%, Hang Seng +0.15%, Shanghai -0.8%, Kospi -4.26%), as oil prices traded unevenly following reports that U.S. President Donald Trump aims to avoid a prolonged Middle East conflict. The JCI closed lower by -0.61% to 7,048.2, after moving mixed amid uncertainty surrounding the U.S.-Iran conflict, with foreign net sell of IDR1.1 tn, mainly from BBRI, BRMS, and BUMI while inflows were recorded in INDF, BMRI, and EMAS. The top laggards were BREN, BYAN, and BRMS, while INDF, MBMA, and AMRT provided some support.
Asian markets opened stronger on Wednesday (Kospi +4.77%, Nikkei +3.78%). We expect the JCI will move up amid positive sentiment from global markets.

Regards,
KBVS Research Team

 

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