Morning Chatter

KBVS MORNING CHATTER
Wednesday, 25 February 2026

Headline News :
•    MMLP – Books IDR63.2 bn net profit in FY25
•    CPIN - Potential margin risks from SBM import centralization
•    DOID - Spent around USD170 mn in 2025
•    TPMA – A USD65 mn capex in 2026
•    AUTO – Net profit grew 8.37% yoy in 2025

Market Commentary :
U.S. stocks rose on Tuesday (Dow +0.76%, S&P +0.77%, Nasdaq +1.05%), led by gains in Advanced Micro Devices and software stocks, as investors' fears around artificial intelligence disruption to certain industries eased. In rates and FX, the U.S. 10 year Treasury yield stable at 4.03%, while the USD Index was at 97.87 (+0.16%).
Commodities were mixed: Coal -1.17% to USD118/ton; CPO -0.88% to MYR4,054/ton; Brent oil -0.5% to USD71.4/bbl; Gold declined -1.37% to USD5,155/oz. 
Asian markets mostly gained on Tuesday (Nikkei +0.87%, Hang Seng -1.82%, Shanghai +0.87%, Kospi +2.11%), as investors weighed renewed tariff threats from U.S. President Donald Trump and concerns that AI could disrupt software companies. The JCI declined -1.37% to 8,280.8 despite foreign net buy of IDR621.9 bn, supported by inflows into BMRI, TLKM, and ASII, while outflows hit IMPC, BUMI, and BIPI. Top movers were MEGA, BMRI, and TLKM, whereas AMMN, DSSA, and BRMS lagged. The decline followed Wall Street’s sharp overnight selloff, as AI disruption fears and Trump’s volatile trade rhetoric weighed on sentiment.
Asian markets opened stronger on Wednesday (Kospi +0.75%, Nikkei +1.25%). Today, we expect the JCI to continued stronger supported by positive sentiment in domestic and regional markets.

Regards, 
KBVS Research Team

 

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