Morning Chatter

KBVS MORNING CHATTER
Monday, 22 June 2026

Headline News:
•    SMGR – Targets urban home renovation market
•    INTA - Focuses on debt reduction and rental business
•    DVLA - Targets 7-9% yoy revenue growth
•    WOOD - Targets 5%-10% yoy sales growth in FY26
•    AVIA – Mitigating rupiah weakness impact
•    MPIX – Acquires 60% stake in MCA to enter digital payment business
•    SOCI – To issue IDR500 bn Sukuk Ijarah, rated idAAA(sy)(sf)
•    SOLA – To spend up to IDR40 bn in capex for expansion

Market Commentary:
Wall Street bounced back on Thursday, backed by chip and tech related stocks. The Nasdaq surged +1.91%, the S&P 500 climbed +1.08%, and the Dow chipped in a modest +0.14% gain. It was a solid recovery from the previous session's sell-off, which was triggered by the Federal Reserve hinting at another interest rate hike later this year. Investors then got an extended breather, as US markets stayed closed on Friday (Juneteenth National Independence Day).

Over in Europe, Friday wasn't quite as kind. Across-the-board losses saw the Stoxx drop -0.24%, the FTSE slip -0.35%, and the CAC fall -0.55%. The pessimistic mood came after peace talks between Washington and Tehran were abruptly postponed.

Asia, meanwhile, saw a mixed bag with Nikkei 225 managed a +0.28% gain to finish at 71,250.06, hot on the heels of a fresh record high on Thursday. However, the broader Topix index couldn't hold on, sliding -0.57%. Kospi drifted lower, closing down -0.13%. We believe traders everywhere are keeping a close eye on the US-Iran situation, as any hope for a sustained market rally hinges heavily on a peaceful resolution.

The paused Geneva talks between the US and Iran gave oil markets a jolt, sending oil prices higher (+1.23%). On the flip side, gold is staring down (-1.72%) its third consecutive weekly loss, bruised by a strengthening US dollar and the Fed's aggressive stance on rates.

Closer to home, the Jakarta Composite Index (JCI) managed a razor-thin gain, inching up +4.80 points (+0.08%) to finish at 6,177.14. Local investors are gearing up for a busy week ahead, dissecting everything from fresh money supply data to early 2Q26 corporate earnings, all of which serve as an opening act for the highly anticipated MSCI Annual Market Classification Review.

Regards, 
KBVS Research Team

 

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