Morning Chatter

KBVS MORNING CHATTER
Friday, 24 July 2026

Headline News:
•    ACES - Reports 2.2% yoy SSSG in 1H26
•    PTRO - Secures IDR9.3 tn mining services contracts
•    BOLT – Booked a 16.0% yoy net profit growth in 1H26
•    PGJO – Subsidiary adds tugboat and barge to expand fleet
•    NAYZ - Saiko to acquire 29.4% stake and plans rights issue for asset injection
•    PPRO - Books IDR201.71 bn net loss in 1H26 despite revenue growth
•    BLOG - Books 9.1% YoY net profit growth in 1H26 
•    GPSO – Targeting the Asian aftermarket market
•    ENRG – Issued a IDR250.0 bn bonds issuance with a 8.95% p.a fixed coupon rate
•    HRTA – Secures IDR2.17 tn working-capital credit facility
•    AKRA – Announces total distribution of IDR1.0 tn dividend from strong performance

Market Commentary:
US indices closed lower yesterday (23/07); DJIA (-0.97%), S&P 500 (-1.21%) and IXIC (-2.15%), dragged down by the consumer goods, telecoms, consumer services and technology sectors amid heightened concerns over AI spending by several major tech companies, alongside escalating tensions in the Middle East. On US labor market, the US labor dept reported that its weekly initial jobless claims were better than anticipated at 187k (vs 211k). Thus, US 10-Y bond yield and USD index rose to 4.703% and 101.44, respectively, yesterday.

In Europe, the STOXX 600 closed lower (-1.18%) yesterday due to the market' anxieties over escalating military tensions in the Middle East, a more hawkish tone from the European Central Bank (ECB) to curb potential inflation and disappointing earnings reports from the technology sector. On economy, ECB decided to keep its interest rates unchanged at 2.4%, with its Jul'26 Consumer Confidence Index reported at -15.9, better than market' anticipation (-17.0). In commodities, oil prices soared again yesterday, driven by rising concerns over supply disruptions after Iran-backed Houthis in Yemen attacked two Saudi oil tankers in the Red Sea. As a result, Brent crude oil and US WTI rose to USD100.69 per barrel and USD92.19 per barrel, respectively.

Most Asian indices closed higher yesterday; Nikkei (+0.46%), KOSPI (+4.40%), and Shanghai (+0.25%), and Hang Seng (+1.28%). While, JCI closed lower (-0.30%) with IDR1.22 tn net foreign outflows. Today, the JCI could continue to close lower due to IDR' depreciation vs USD, continued net foreign outflows and higher global oil prices amid rising tensions in the Middle East

Regards, 
KBVS Research Team

 

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