Morning Chatter
KBVS MORNING CHATTER
Wednesday, 02 July 2025
Headline News :
• GOTO - Govt plans 8-15% ojol fare hike
• MEDC - Secures USD500 mn loan
• TBIG – Issues IDR1.5 tn in bonds for debt repayment
• ADCP – Partially repays loan from ADHI
• PEHA – To expand export market as one of main strategies
• DYAN – Preparations for various exhibitions in 2H25
• ERAL – XPeng dealer network expansion
• ACES – Opens a new store in Palembang
• PRDA – Acquires 30% stake in ProSTEM
• CLEO – Sales grew 7% yoy in 1Q25
Market Commentary :
U.S. markets closed mixed Tuesday (Dow +0.91%, S&P -0.11%, Nasdaq -0.82%) as megacap tech stocks slumped, while the Dow rose in a volatile, low-liquidity session. Optimism over stimulus and easing trade concerns clashed with profit-taking in high-flying tech names. Tesla fell 5.4% after Trump threatened to cut its subsidies amid renewed tensions with Musk. Powell reiterated a cautious Fed stance on rate cuts, while strong job data signaled labor market resilience. UST 10Y yield rose +0.017 bps to 4.246%, and the USD Index edged up +0.03% to 96.82.
Commodities closed mixed on Tuesday: Coal +1.7% to USD111.8/ton on stronger China-India demand; CPO -0.43% to MYR3,970/ton as Malaysian output rose ~6% mom; Brent Oil -0.74% to USD67.11/bbl amid OPEC+ output hike plan; Gold +1.08% to USD3,338/oz as investors sought safe haven after the U.S. Senate passed Trump’s major tax-and-spending bill.
Asian markets closed mixed on Tuesday (Kospi +0.58%, Hang Seng closed, Shanghai +0.39%, Nikkei -1.24%) as investors weighed Wall Street gains and looming tariff tensions ahead of the 90-day deadline. JCI fell -0.18% to 6,915.4, led by IDX Trans and top laggers BMRI, BBRI and BBNI with IDR816.7 bn in foreign outflows.
Asian markets opened lower on Wednesday (Kospi -0.56%, Nikkei -0.92%). We expect JCI to weaken today, weighed by broad declines in global indices and commodities, alongside continued foreign selling.
Regards,
KBVS Research Team
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