Morning Chatter

KBVS MORNING CHATTER
Friday, 19 June 2026

Headline News:
•    MAPI - New controlling shareholder prepares IDR12.61 tn for mandatory tender offer
•    ESSA - To disburse IDR895.8 bn in dividends
•    BSSR - To disburse USD70 mn in final dividends
•    PSAT - Further growth on diversification and expansion
•    BUKK – Targeting IDR4.1 tn sales in FY26
•    GOTO – Prepares up to IDR3.5 tn for buyback program
•    ASHA – Targets new export markets
•    CMRY – Positive 3Q26F Revenue Growth Outlook
•    BOAT – Accelerates southeast Asia Expansion
•    BIRD - To disburse IDR419.88 bn in dividends
•    PPRI - Targets IDR80.53 bn in Q2 2026 sales

Market Commentary:
US indices closed higher yesterday (18/06); DJIA (+0.14%), S&P 500 (+1.09%) and IXIC (+1.91%), driven by gains in the technology, industrials and consumer services sectors amid positive progress in the Middle East, despite the Fed' hawkish tone due to inflationary risks. Note that, US and Iran signed an interim peace accord to end military operations on all fronts and immediately reopen the critical Strait of Hormuz. The agreement will kickstart a period of negotiations for two months to arrive at a final deal. Yet, the US dept of labor reported that its weekly initial jobless claims were higher than anticipated at 226k (vs 225k). Thus, US 10-Y bond yield was down to 4.456%, but USD index rose to 100.63, yesterday. Now, based on CME Group’s FedWatch tool, the market is betting on a roughly 50% chance of a 25bps rate hike in Sep'26 and a roughly 20% chance for a 50bps rate hike.

In Europe, the STOXX 600 closed lower (-0.3%) yesterday as the market increased bets on a rate hike by the Fed, later this year, after policymakers struck a hawkish tone, though easing oil prices offered some relief on inflation. In UK, the Bank of England (BoE) kept interest rates unchanged at 3.75% in Jun'26, as policymakers thinks that it is still too early to hike rates given uncertainty about inflation pressures. In commodities, oil prices fell further yesterday driven by positive progress in the Middle East as US and Iran signed a Memorandum of Understanding (MoU). Thus, both Brent crude oil contract for Aug'26 and US WTI' oil delivery for Juli'26, declined to USD79.3 per barrel and USD76.6 per barrel, respectively yesterday.

Indices in Asia closed mixed yesterday; Nikkei (+1.65%), KOSPI (+2.25%), Hang Seng (-1.59%) and Shanghai (-0.43%). While, JCI closed lower (-0.78%) with IDR111.56 bn net foreign outflows. On economy, Bank Indonesia (BI) raised its policy rate by another 25bps, marking its third rate hike within a month. Today, the JCI could continue to close lower due to ongoing foreign outflows amid stronger USD vs IDR, despite lower global oil prices on easing tensions in the Middle East.

Regards, 
KBVS Research Team

 

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