Morning Chatter

29 September 2023

Friday, 29 September 2023

Headline News :
•    Telco - Govt pushes for further consolidation
•    Banking - Credit interest rate remain high
•    Energy - Incentives plan for coal mining 
•    TPMA - Actively adding new vessels
•    BSDE - Optimist to have a positive performance in 3Q23
•    PRDA - Focus on expanding its digital health business
•    AKRA - Monetize JIIPE assets worth IDR20 tn
•    HOKI - Innovating amidst supply disruptions
•    SGER - Subsidiary plans IDR200 bn IPO

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Market Commentary :
US indices rose on Thursday (28/09); DJIA (+0.35%), S&P 500 (+0.59%) and IXIC (+0.83%) as data showed the U.S. economy (GDP: 2.1%) maintained a fairly solid pace of growth in 2Q23 and a possibility to avert a government shutdown. Market also awaits for the data on US Personal Consumption Expenditure (PCE) price index this Friday. US 10-Y bond yield fell to 4.602% on US strong labor market with initial jobless claims at 204k was better than expected despite slightly higher than prior.

In Europe, STOXX600 closed higher (+0.35%) on the boosts from energy and mining stocks with Germany's inflation was better than expected (4.5% yoy/0.3% mom). On commodity, US WTI and Brent Oil fell to USD91.71/barrel and USD93.18 /barrel.

Most of Asian indices ended lower yesterday, while JCI was closed on public holiday. Today, JCI could ended higher due to a more positive global sentiment.

KBVS Research Team


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