Morning Chatter

KBVS MORNING CHATTER
Thursday, 27 November 2025

Headline News :
•    GOTO - Ant group reportedly eyes GoTo Financial
•    IMPC – Signs MoU for waste-to-energy project in Bali
•    HAIS – Targets 3%-5% revenue growth in 2026; focuses on efficiency
•    PPRE – Mining operation contract in East Halmahera
•    BMHS - Targets 4Q25F growth through service expansion
•    PRDA - 9M25 earnings decline, introduces new services
•    SILO - Strong 9M25 results driven by improved operational efficiency
•    DGNS – Targets profitability in 2026; corporate check-ups to boost 4Q25

Market Commentary :
US equities extended gains ahead of Thanksgiving, with the Dow (+0.67%), S&P500 (+0.69%) and Nasdaq (+0.82%) marking a fourth straight day of increases as AI-linked tech names (Nvidia, Dell) helped unwind last week’s valuation-driven pullback. 
Rate-cut expectations strengthened, with futures now assigning an 85% probability to a 25bps Fed cut in December. The Beige Book had little market impact. 
A Reuters survey shows analysts expect the S&P500 to gain ~12% through 2026, supported by a resilient macro backdrop and sustained tech momentum. Cyclicals also participated, with airlines outperforming (S&P1500 Airlines +3%) on strong holiday travel volumes. While robust air traffic points to solid consumer activity, retailers face mixed demand heading into the holiday season amid tariff pressures and ongoing corporate layoffs. 
Asia-Pacific equities traded higher on Wednesday, helped by improved sentiment after reports that Kevin Hassett has emerged as the leading candidate for Fed Chair, viewed as more dovish and aligned with the administration’s preference for lower rates. The JCI rose 0.94% to 8,602.13, with net foreign outflows of IDR550.3bn. BBRI, BBCA, and SMGR saw the largest foreign selling.

Regards,
KBVS Research Team

 

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