Morning Chatter

KBVS MORNING CHATTER
Monday, 08 June 2026

Headline News:
•    BISI – Net profit grew 58.2% yoy in 1Q26
•    MPMX - Expands motorcycle distribution and retail business to Timor Leste
•    PSAB – To disburse IDR2.77 tn in dividends
•    JKON – To disburse IDR32.6 bn in dividends
•    TUGU – Reports IDR95.1 bn net profit from subsidiary Pratama in FY25
•    MMIX – Builds diaper factory, targets 50% revenue from baby care
•    SMSM - To disburse IDR230.34 bn in dividends
•    TOTO - To disburse IDR134.16 bn in dividends
•    PPRO – Targets IDR1 tn annual revenue post-2034 business transformation
•    ENRG – Accelerates IDR338.38 bn private placement
•    TPIA – SCG Chemicals divests 13.67% stake
•    Coal - Centralized export regulation officially takes effect

Market Commentary:
Global markets faced a severe broad-based sell-off on Friday. Tech led a massive market retreat. The Nasdaq plummeted -4.18%, followed by the S&P 500 (-2.64%) and the Dow (-1.35%). The downturn was fueled by a chip stock sell-off and liquidity shifting ahead of SpaceX's IPO. Short-term pessimism spiked, sending the VIX index up +39.68%. From the European market, all the benchmark indices in the region closed in red, except FTSE. The pan-European Stoxx 600 index slipped into negative territory as a global sell-off in semiconductor and chipmaking stocks rattled investor confidence.

Crude oil backed down as fears of a hot conflict between the US and Iran began to fade. Gold took a hit after an unexpectedly strong US payrolls report for May practically locked in expectations for higher-for-longer interest rates. That same blockbuster jobs data gave the US dollar a solid lift heading into the weekend.

From the APAC market, benchmark indices across the region ended the day in the red, taking their cue from Wall Street's overnight tech meltdown. South Korea leading regional losses as the sell-off in global tech heavyweights quickly crossed over into Asian trading boards.

Meanwhile, the Jakarta Composite Index continued to weaken, diving by -4.2% (-245.02 pts) to close at 5,594.77 on the back of continuing fading trust from foreign fund flow, which spread to domestic fear. JCI now has declined by around 38% from this year peak, with a cumulative YTD net foreign sell of more than IDR70 tn. Despite all the pros and cons, we believe the market is still continuously dominated by negative sentiment. All the drawbacks seem to still hang on to the final sentiment from the MSCI Global Market Accessibility Review and Annual Market Classification Review, scheduled to be released on June 18th and June 23rd, 2026. Traders and investors are itching for a relief bounce given how beaten-down domestic stocks are, but Friday’s brutal, synchronized sell-off across global boards from US to Europe and APAC is set to spoil the expectation. Expect opening-bell pressure today, which will likely smother any early attempts at a rebound. Closest key data metrics this week: foreign exchange reserves, 2W sales, consumer confidence, retail sales..

Regards, 
KBVS Research Team

 

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