Morning Chatter

KBVS MORNING CHATTER
Friday, 8 May 2026

Headline News :
•    SMDR – 1Q26 net profit declined –35.0% yoy
•    LTLS – A IDR500.0 bn capex allocation for FY26 expansion
•    CMRY – First yogurt export to Vietnam
•    WSKT – Secured IDR3.1 tn in new contracts in 1Q26
•    HRTA – Higher 1Q26 revenue on the back of rising gold prices
•    SMGR – Targets infrastructure projects with rapid-setting concrete
•    COCO – Acquires 99.99% stake in Momogi Group
•    GMFI – 1Q26 net profit grew 78.3% yoy
•    RATU – Distribute IDR122.2 bn in dividends
•    TPIA – CA-EDC plant construction reaches 66% completion

Market Commentary :
US indices closed lower yesterday (07/05); DJIA (-0.63%), S&P 500 (-0.38%) and IXIC (-0.13%) as hopes for an imminent peace deal between the US and Iran faded after Iran claimed that US military had attacked its oil tankers, to which Iran retaliated by attacking US warships. Moreover, the US is also considering to restart an operation to safely guide commercial ships through the Strait of Hormuz. From US labor market, Challenger, Grey & Christmas released their US Challenger jobs cut data in Apr'26 at 83.387k vs 60.620k. While, the US dept of labor reported that its weekly initial jobless claims were better than anticipated at 200k (vs 205k). Thus, both USD index and US 10-Y bond yield rose to 98.08 and 4.382%, yesterday. Moreover, there is a possibility that the Fed would hold interest rates steady through the end of the year on a resilient labor market and higher energy prices.
In Europe, the STOXX 600 closed lower (-1.1%) yesterday, amid rising tensions in the Middle East. On economy, EU released their Mar'26 retail sales data that was above market expectation. EU' retail sales in Mar'26 grew 1.2% yoy, but on monthly basis, it declined -0.1% mom. Furthermore, France released their trade balance data, which in Mar'26 France recorded around EUR6.9 bn deficit or below market expectation. As a result, France recorded around EUR8.2 bn deficit in Mar'26. In commodities, oil prices moved higher yesterday, erasing earlier losses after US military attacked Iranian oil tankers near the Strait of Hormuz, to which Iranian responded by attacking US military warships. Thus, Brent crude for July contract rose to USD101.52 per barrel and US WTI for delivery in June, rose to USD96.34 per barrel. 
Indices in Asia closed mixed yesterday, while JCI closed higher (+1.15%) but with IDR76.39 bn net foreign outflows. Today, the JCI could close lower due to stronger USD vs IDR and higher global oil prices, amidst increasing geopolitical tensions in the Middle East.

Regards,
KBVS Research Team

 

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