Morning Chatter

KBVS MORNING CHATTER
Thursday, 26 March 2026

Headline News :
•    BBRI - Feb26 earnings soars in Feb26
•    LPPF – Net profit declined 12.4% yoy in FY25 due to lower sales 
•    JSMR – Vehicle volume was up 49.15% on d+2 Eid
•    COCO – Plans 10.67 bn rights issue for aggressive acquisition and capex
•    BELL - A IDR21 bn capex allocation for retail expansion and B2B
•    VOKS – Hengtong divests 203.5 mn shares to fulfill free-float requirement
•    BFIN – Ends its IDR100.0 bn share buyback program with 100mn shares acquired
•    CBRE – Gunanusa Hai Long 106 vessel officially becomes part of its asset portfolio

Market Commentary :
US equities closed higher on Wednesday, supported by a pullback in oil prices and tentative signs of diplomatic engagement between the US and Iran, raising hopes of potential de-escalation in the Middle East. The Dow Jones rose 0.66%, S&P500 gained 0.54%, and Nasdaq advanced 0.77%, although volatility remained elevated amid conflicting headlines around negotiations and Iran’s stance on the Strait of Hormuz. Sector performance reflected softer crude prices, with energy underperforming (-0.5%), while materials (+2.0%) and consumer discretionary (+1.2%) led gains. 
Lower oil prices also supported fuel-sensitive segments, with airlines and cruise operators moving higher. Despite the near-term improvement in sentiment, uncertainty around the timing and outcome of negotiations continues to anchor volatility. Importantly, the recent spike in oil prices has reintroduced inflationary pressures, complicating the global policy backdrop and reducing central banks’ flexibility to ease. 
Reflecting this shift, market expectations have repriced meaningfully, with the Federal Reserve now seen holding rates steady through 2026, according to CME FedWatch, versus prior expectations for two rate cuts before the escalation. 
Yesterday, Asia-Pacific equities closed broadly higher, led by gains in the Nikkei225 (+2.9%), Kospi (+1.6%), ASX200 (+1.9%), Hang Seng (+1.1%), and CSI300 (+1.4%). The JCI surged 2.75% to 7,302.12, driven by gains in ASII, TLKM, and BMRI. Foreign investors recorded a modest net buy of IDR102.8 bn, with inflows concentrated in AADI, ASII, and PTBA.

Regards,
KBVS Research Team

 

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