Morning Chatter

KBVS MORNING CHATTER
Friday, 09 January 2026

Headline News :
•    RMKE - Targets IDR800 bn net profit in 2026F
•    PZZA – Maintaining business performance
•    ECII – Preparing sales and expansion strategies
•    ADMF – Launches hajj plus financing product

Market Commentary :
US indices closed mixed yesterday (08/01); DJIA (+0.55%), S&P 500 (+0.01%) and IXIC (-0.44%) due a selloff in tech stocks, but gains in cyclical sectors (consumer and energy) have kept broader market losses in check. While, US labor market reported that its weekly initial jobless claims was better than expected at 208k (vs 213k). Moreover, the country' worker productivity grew 4.9% yoy in 3Q25 or at its fastest pace in the last 2 years. Thus, USD index was up to 98.92, with US 10-Y bond yield closed flat at 4.168%, yesterday. Now, market is waiting for US nonfarm payrolls data report, which is going to be released later this Friday as it could provide a clearer picture of employment conditions and wage growth in US.
In Europe, the STOXX 600 fell 0.2% yesterday on a selloff in tech (-2.2%) and retailers (-0.6%) due to heightened geopolitical concerns following US threats to seize Greenland, in the wake of the deposing of Venezuelan President Nicolas Maduro. On economic data, EU reported that its Producer Price Index (PPI) was up 0.5% mom in Nov'25, but on yearly basis still declined 1.7% yoy. While, its unemployment rate was slightly better than expected at 6.3% (vs 6.4% prior) in Nov'25. EU also reported a better than expected Consumer Confidence Index (CCI) at -13.1 (vs -14.6) in Dec'25. On commodity, both Brent crude futures for March and US WTI were up to USD62.75 per barrel and USD58.39 per barrel, respectively yesterday after US reported that its oil inventories shrunk by 3.8 mn barrels or larger than expectations amid rising geopolitical tensions. 
Most Asian indices closed lower yesterday, and JCI closed 0.22% lower, but with IDR950.23 bn net foreign inflow. Today, the JCI could continue to close lower on stronger USD and higher global oil prices, amid rising geopolitical tensions.

Regards, 
KBVS Research Team

 

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