Morning Chatter

KBVS MORNING CHATTER
Friday, 12 December 2025

Headline News :
•    BUMI - Issued IDR780 bn bonds to fund acquisitions
•    IKAI – Expects to recover in 4Q25F, after a weak 9M25 results
•    MLBI – Targets higher sales on Nataru festivities
•    KINO – Controller increases stake to 79% via IDR200 bn crossing transaction
•    PJHB – Begins construction of LCT vessels
•    UNVR - To distribute IDR3.3 tn interim dividend
•    UNTR – Martable gold mine temporarily halts operations following floods, no material impact
•    CANI – Targeting USD3.67 mn in revenue for 2026
•    SHIP – Expands to international market with USD80.5 mn VLGC acquisition

Market Commentary :
US indices closed mixed on Thursday (11/12); DJIA (+1.34%), S&P 500 (+0.21%) and IXIC (-0.26%), as the market digested Jerome Powell' post meeting remarks, which was more balanced and less hawkish than many had anticipated. Moreover, he even outlined a higher bar for future rate cuts and data dependence, along with the Fed' plan to start buying short-dated gov bonds to boost market liquidity. Note that, the Fed will initially buy about USD40 bn of Treasury bills per month. On economic data, the US trade deficit unexpectedly narrowed in Sept25, contracting to USD52.8 bn, the lowest level since June 2020. While, the US labor market reported that the country' weekly intial jobless claim rose to 236k or higher than market' anticipation (220k) and prior (191k). Thus, both USD index and US 10-Y bond yield fell to 97.97 and 4.141%, respectively yesterday.

In Europe, the STOXX600 ended 0.55% higher yesterday, as the market cheered on the Fed’ latest rate cut and assessed a policy decision from the Swiss National Bank (SNB). SNB decided to keep its rate unchanged at 0%, after a recent agreement that succeeded in reducing US tariffs on Swiss goods, that helps the nation' economic outlook. On commodity, both Brent crude futures and US WTI fell to USD61.28 per barrel and  USD57.60 per barrel, respectively yesterday as the market is refocusing on Russia-Ukraine peace talks. 

Indices in Asia closed mixed yesterday, and JCI closed 0.92% lower, but with IDR1.36 tn net foreign inflow. Today, the JCI could continue to close lower due to a rebound in USD and global oil prices, despite toned-down geopolitical uncertainties.

 

Regards,
KBVS Research Team

 

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