Morning Chatter

KBVS MORNING CHATTER
Tuesday, 26 May 2026

Headline News:
•    MAIN – Net profit grew 96% YoY in 1Q26
•    BIRD – Strategy to maintain margins
•    NCKL – Plans IDR1 tn buyback
•    MSTI - To Disburse Final Dividend of IDR106 per Share
•    MERK - To Disburse IDR123.2 bn Dividend
•    INTP – Builds a 71.9 MW solar power plant
•    KEEN – Targets an 84.81% YoY net profit growth in 2026
•    SMDR – Opens new shipping route to Singapore and Malaysia
•    ASSA – Maintains 5000 annual fleet replacement target despite weaker rupiah
 

Market Commentary:
U.S. markets were closed yesterday (25/5) in observance of Memorial Day. European markets, however, closed strongly with the pan-European Stoxx 600 rising +1.0% to 631.63 points, its highest level in over two months, recovering all losses since the start of the Middle East conflict. The rally was driven by growing investor optimism over a potential U.S.-Iran peace deal, with President Trump stating that negotiations were "proceeding in an orderly and constructive manner." Senior U.S. officials also signaled that Washington and Tehran were edging closer to an agreement that would restore access to the key Strait of Hormuz shipping route, pushing oil prices sharply lower.
In the commodities market, Brent crude slid -7.1% to approximately USD96.1 per barrel, while WTI crude -5.6% to USD91.1 per barrel on Monday as peace deal optimism eased supply concerns. Gold gained +1.4% to USD4,572 per troy ounce, nickel unchanged at USD18,878 per ton, and coal was relatively unchanged at USD132.0 per ton.
Asian markets were closed mixed yesterday (25/5), while JCI gained +0.7% to 6,206 on Monday extending gains from the prior session as U.S. stock futures jumped on easing oil prices after President Trump signaled progress in Iran talks. Meanwhile the rupiah weakened -0.1% to IDR17,744 per USD, even after Bank Indonesia's surprise 50 bps rate hike. We expect the JCI to rebound today, supported by positive global catalysts, particularly the growing optimism surrounding the U.S.-Iran peace deal that drove European markets higher and pushed oil prices lower on Monday.

Regards, 
KBVS Research Team

 

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