Morning Chatter

KBVS MORNING CHATTER
Friday, 6 February 2026

Headline News :
•    BMRI - Prints IDR56.3 tn in profit throughout 2025
•    BMRI - Fiscal year 2025 dividend guidelines
•    CUAN - 680 MW power plant groundbreaking
•    BMRI - Distributes IDR225 tn in dividends over 25 years
•    PZZA – Optimizes Ramadan momentum to boost 1Q26F performance
•    ERAA – Business strategy ahead of Ramadan
•    RELI – Revenue rises 37.2% yoy in 2025
•    IMAS – To issue bonds worth IDR2.5 tn
•    Banking - BSN launches Sharia Bale, driving the Sharia digital ecosystem

Market Commentary :
US indices closed lower yesterday (05/02); DJIA (-1.20%), S&P 500 (-1.23%) and IXIC (-1.59%) dragged down by losses in Microsoft, Amazon and other tech heavyweights amid heightened market concerns over whether AI spending would pay off for mega‑cap tech companies. While, US labor market reported that its weekly initial jobless claims was higher than expected at 231k (vs 212k). Thus, USD index was up to 97.85, but US 10-Y bond yield fell to 4.271%, yesterday. 
In Europe, the STOXX 600 closed 1% lower yesterday dragged down by banking and resources stocks after the European Central Bank (ECB) and Bank of England (BoE) held their interest rates steady at 2.15% and 3.75%, respectively. The market also sees a small chance that the ECB will cut its rates this year as inflation in the euro zone has fallen to around 1.7%, below the ECB’s target of 2%. On commodity, both Brent crude futures and US WTI were down to USD67.53 per barrel and USD63.26 per barrel, respectively yesterday after US and Iran agreed to hold talks in Oman on Friday, easing concerns of a military conflict between the two countries that could disrupt supply from the region.
Most of Asian indices closed lower yesterday, including JCI (-0.53%), with IDR469.75 bn net foreign outflow. Today, the JCI could continue to close lower as Indonesia's outlook was downgraded to negative by Moody's amid stronger USD and a potential rebound in global oil prices, despite a more toned-down geopolitical tensions.

Regards,
KBVS Research Team
 

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