Morning Chatter

KBVS MORNING CHATTER
Thursday, 02 July 2026

Headline News:
•    DEWA – Secures IDR22 tn mining services contract
•    AKRA – Appoints Hyundai Industries for LNG FSRU construction
•    DSSA- A IDR82.3 mn net profit in 1Q26
•    HUMI - Acquires two tug boats for IDR22.5 bn
•    MPPA - To raise up to IDR1.19 tn via Rights Issue VIII, primarily for affiliate property acquisitions
•    WMPP – A IDR130.3 bn net profit in 1Q26
•    BWPT – Issues bonds and sukuk mudharabah targeting IDR350.0 bn
•    GMFI - Targets USD50 mn+ from defense aviation in FY26; 1Q26 net profit up 77.9% YoY
•    ASDM - To disburse IDR32 per share in dividends
•    PBSA – To disburse cash dividend of IDR180.0 bn from FY25 net profit
•    SOTS - Divests non operational assets and targets IDR25.35 bn in 2026F revenue

Market Commentary:
US equities closed modestly lower on Wednesday as weakness in technology and semiconductor stocks outweighed a sharp rally in Meta Platforms. The S&P500 fell -0.22%, Nasdaq declined -0.66%, while DJIA was little changed (-0.03%). Semiconductor names led the decline as investors continued to reassess elevated AI-related valuations. Market sentiment found modest support after Federal Reserve Chair Kevin Warsh noted that inflation risks have eased. However, he reiterated the Fed's commitment to its 2% inflation target, reinforcing a data-dependent policy stance despite continued political pressure for rate-cuts. Risk appetite remained cautious ahead of Thursday's US nonfarm payrolls report. Although US manufacturing activity softened in June, the ISM survey continued to signal a resilient industrial backdrop.
Oil prices extended their decline after President Donald Trump said US-Iran talks in Qatar were progressing constructively. Brent crude fell 1.9% to USD71.57/bbl, while WTI declined 1.3% to USD68.58/bbl.
Asian equities mostly advanced on Wednesday, led by gains in Japan and Taiwan, lifting the MSCI Asia-Pacific Index by 0.3%. The JCI rose +0.92% to 5,695.12, driven by strength in BREN, TLKM, BRPT and BYAN, despite net foreign outflows of IDR577.68 bn. Looking ahead, we expect the JCI to remain supported by improving risk sentiment, underpinned by easing geopolitical tensions and softer oil prices.

Regards, 
KBVS Research Team

 

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