Morning Chatter

KBVS MORNING CHATTER
Tuesday, 19 May 2026

Headline News :
•    ERAL – Xpeng acquires 90.1% stake in EV manufacturing company
•    PTSP – To open 20 new outlets in FY26
•    CITA - To disburse IDR1.39 tn in dividends
•    BEEF – Plans a IDR100 bn share buyback program
•    SMKM – Plans a business transformation into the aquaculture sector
•    AMMN – Director Irwin Ka Pui Wan resigns
•    SMBR – To disburse IDR 34.4 bn in dividends
•    MORA - Targets 5 mn homepass in 2026
•    CSAP - Inaugurates two new stores simultaneously; on track with 2026 expansion target

Market Commentary :
U.S. and European markets closed mixed on Monday (18/5), with DJIA (+0.32%), Nasdaq (-0.51%), S&P 500 (-0.07%), and Stoxx 600 (+0.54%). The movement was mainly driven by weakness in technology stocks, particularly semiconductor, after the CEO of Seagate Technology stated that building new semiconductor fabrication plants would “take too long,” raising concerns that supply may struggle to keep pace with the growing demand for artificial intelligence infrastructure. Investor sentiment was also influenced by developments in the Middle East after President Donald Trump said he would delay the planned military strike against Iran following requests from Qatar, Saudi Arabia, and the United Arab Emirates to allow further negotiations to continue. Meanwhile, the U.S. 10-year Treasury yield fell 3.8 bps to 4.585%, while the U.S. Dollar Index stood at 99.193.
In the commodities market, Brent crude rose 0.11% to USD109.4 per barrel, while WTI crude climbed 3.07% to USD108.7 per barrel. Gold increased 0.59% to USD4,567 per troy ounce, nickel gained 0.46% to USD18,509 per ton, and coal rose 1.10% to USD132.5 per ton.
Asian markets closed lower yesterday (18/5), while JCI declined 1.85% to 6,599.2. Foreign investors recorded net sell of IDR460 bn in the regular market and IDR3.6 bn in the negotiated market. Meanwhile, the rupiah weakened by 1.1% to IDR 17,656 against the U.S. dollar. On the domestic front, Bank Indonesia’s May RDG meeting begins today (19/5). We expect the JCI to remain under pressure today amid mixed global and regional sentiment, alongside the potential continuation of rupiah weakness.

Regards,
KBVS Research Team

 

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