Morning Chatter

KBVS MORNING CHATTER
Wednesday, 26 November 2025

Headline News :
•    ENRG - Strengthens portfolio through transactions with JAPEX
•    DRMA – Targets IDR6.5 tn in sales for 2026 despite challenges
•    ADHI – Responds to two PKPU lawsuits; claims no significant impact
•    ERAL - Targets 10 store openings in 4Q25F to boost retail sales
•    KRAS – Strengthening business scale with capital injection
•    PZZA - Appoints new president director and commissioners following EGMS
•    ARKO – 9M25 profit grew 17.7% yoy; expands run-of-river hydro projects
•    YUPI - 2.17% yield FY25 interim dividend

Market Commentary :
U.S. equities climbed on Tuesday (Dow +1.43%, S&P 500 +0.91%, Nasdaq +0.67%), and were set for a third straight session of gains, as investors remained optimistic the Federal Reserve would cut U.S. interest rates at its December meeting, while the U.S. 10-year Treasury yield fell -3.3 bps (-0.82%) to 3.99% and the USD Index edged -0.38% to 99.8.
Commodities closed lower: coal -0.93% to USD111.4/ton on weakening volume demand despite the onset of winter; CPO -1.6% to MYR3,990/ton, tracking the decline in soybean oil prices on the Chicago Board of Trade; Brent oil -1.35% to USD62.6/bbl after Ukraine hinted that an intense diplomatic push by the U.S. administration to end Russia's war against it could be yielding results; and gold -0.03% to USD4,132.17/oz held steady as softer-than-expected U.S. retail sales data reinforced traders’ expectations that the Federal Reserve will trim interest rates in December.
Asian markets closed higher on Tuesday (Kospi +0.06%, Nikkei +0.07%, Hang Seng +0.69%, Shanghai +0.87%) supported by optimism that the Fed will cut interest rates in December. The JCI fell -0.56% to 8,521.9 with IDR1.49 tn in net foreign outflows, dragged by BBRI, BREN, and AMMN, while top net foreign sells were BBRI, BRPT, and BRMS. The index retreated on Tuesday, giving back part of the gains recorded in the previous session.
Asian markets opened higher on Wednesday (Kospi +0.52%, Nikkei +0.95%). We expect the JCI to trade mixed today, as positive sentiment from Wall Street, driven by continued gains in technology stocks and optimism over a potential Federal Reserve rate cut, may be weighed down by ongoing foreign investor selling and declining commodity prices.

 

Regards,
KBVS Research Team

 

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