Morning Chatter

KBVS MORNING CHATTER
Friday, 05 December 2025

Headline News :
•    AKRA - Sells 40 ha JIIPE Land to Golden Elephant
•    PGEO - Four projects enter blue book for concessional loans
•    KEEN - Landslide halts 26% of capacity
•    RATU – Provides USD5.1 mn loan facility to subsidiary PJUC
•    MYOR – Lowers revenue target to single digit growth; issues IDR827.54 bn bonds
•    FORE – 9M25 net profit grew 41.9% yoy; to expand to tier 2-3 cities
•    SDPC – 9M25 net profit profit slightly declined, despite revenue growth
•    IRSX – Targeting IDR1 tn in net profit by 2027
•    AMRT – Alfamart plans asian expansion amid steady domestic growth
•    UNVR – To distribute IDR3.3 tn in interim dividend
•    CMRY – Raises 2025 growth target by 15-20% as both dairy and consumers posted steady growth
•    MAPI - Stronger 2026 outlook on consumption recovery and ASEAN expansion

Market Commentary :
US indices closed mixed or rather flattish on Thursday (04/12); DJIA (-0.07%), S&P 500 (+0.11%) and IXIC (+0.22%), as the market await for US PCE data later this Friday and after stronger than expected US initial jobless claim that could hinder the Fed' plan to cut its rates this month. The US labor market reported that the country' weekly intial jobless claim was at 191k or the lowest mark since Sept'22. The market also expects US President Trump to announce his candidate, Kevin Hassett for the next Fed' chairman, which the market considers as he is more dovish than Jerome Powell. Thus, USD index was slightly up (+0.08%), and US 10-Y bond yield rose to 4.11%, yesterday.
In Europe, the STOXX600 ended 0.45% higher yesterday, driven by gains in industrials and automotive stocks as global risk appetite improved on higher US rate cut expectations, and the market also digested a mixed bag of corporate updates. On economics, data showed that EU' construction PMI mom rose to 45.4 or better than prior (44), while in Oct'25 EU' retail sales grew 1.5% yoy or slightly better than expected (1.4% yoy). While on a monthly basis, EU' retail sales in Oct'25 was flattish. Moreover, EU will release its GDP data later today. On commodity, global oil prices rose yesterday, with Brent crude futures was 0.94% higher at USD63.26 per barrel, while US WTI edged up 1.22% to USD59.67 per barrel.
Indices in Asia closed mixed yesterday, and JCI closed 0.33% higher, with IDR1.7 tn net foreign inflow. Today, the JCI could close lower due to a potential rebound in USD and higher global oil prices, despite toned-down geopolitical uncertainties.

Regards, 
KBVS Research Team

 

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