Morning Chatter

KBVS MORNING CHATTER
Friday, 13 June 2025

Headline News :
•    Automotive - Toyota continue its domination in May25
•    SMRA – To distribute IDR148.6 bn in dividends, a 2.1% yield
•    TOWR – Extends IDR1.0 tn loan facility until Jun-26
•    ANTM - 4.8% dividend yield
•    PTBA - 11.1% dividend yield
•    HRTA - 3.3% dividend yield
•    TINS - 5.5% dividend yield
•    NICL - 1.2% yield interim dividend
•    TPIA - Siam cement may divest 10.57% stake
•    NELY – To distribute IDR58.8 bn in dividends
•    TIFA – To distribute dividend of IDR63.93 bn
•    ERAA – Limited impact of weaker purchasing power on sales
•    WOOD – Maintains 20% yoy sales growth target despite tariff risk
•    TBLA – To distribute dividend of IDR72.18 bn
•    Coal - China low-grade cuts may hit imports

Market Commentary :
US indices closed higher on Thursday (12/06); DJIA (+0.24%), S&P 500 (+0.38%) and IXIC (+0.24%), driven by utilities', healthcare' and technology' stocks. At the same time, the US consumer and producer inflation reports showed overall price pressures remained contained in May'25, largely due to declines in the cost of gasoline, cars and housing, or services like air transport. US reported its Producer Price Index (PPI) and core PPI, which both only grew 0.1% mom. While, on yearly basis, US' PPI and core PPI grew 2.6% yoy and 3% yoy, respectively. Yet, most economists expect inflation to pick up as the impact of US tariffs begins to bite as the 90 days postponement of President Donald Trump’s "liberation day" tariffs will come to an end on July 8. Moreover, US labor market reported that its weekly initial jobless claims was at 248k or higher than expected. Thus, both USD index and US 10-Y bond yield were down to 97.89 and 4.355%, respectively. 
In Europe, STOXX600 fell 0.33% yesterday as trade optimism dimmed due to the persistent lack of clarity surrounding global trade policy, amidst mounting geopolitical tensions between Israel and Iran. Furthermore, the market still expects European Central Bank (ECB) to cut one more time of its rates by 25bps, at the end of 2025. On commodity, oil prices were up, with the August Brent Oil contract rose 0.36% to trade at USD70.02 a barrel, while US WTI delivery in July rose 0.67% to hit USD68.61 a barrel. Both prices were driven by the possibility of supply disruptions amid concerns that Israel could be preparing fresh strikes on Iran. 
Yesterday, indices in Asia closed mixed, and JCI closed 0.25% lower with IDR282.58 bn net foreign outflow. Today, JCI could continue to end lower due to higher geopolitical and economic uncertainties.

Regards, 
KBVS Research Team

 

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