Morning Chatter

KBVS MORNING CHATTER
Friday, 03 July 2026

Headline News:
•    HRUM – Secures USD149 mn loan
•    DSSA – Acquires BMT stake for IDR4 tn
•    KRAS – Transfers hotel asset worth IDR312.0 bn to InJourney
•    PTRO: To build EV charging substation with CDIA's subsidiary
•    MUTU - Raises IDR29.9 bn via private placement to expand green economy business
•    SOCI - Issues IDR134.85 bn sukuk ijarah to refinance syndicated bank loans
•    TRST - Targets high single digit sales growth and focuses on export market
•    HAJJ – Expands room allocation at Hilton Hotels Jabal Omar, Mecca
•    JTPE – Targets 30% revenue contribution from exports in Asia and Africa

Market Commentary:
US indices closed mixed yesterday (02/07); DJIA (+1.14%), S&P 500 (-0.01%) and IXIC (-0.80%), dragged down by loss in the technology and consumer sectors amidst a toned down US nonfarm payrolls. Based on the Bureau of Labor Statistics (BLS), the US added 57k nonfarm payrolls in Jun'26, much lesser than the consensus figure of 114k and decelerating from May’s downwardly revised reading of 129k. Employment trended up in professional and business services, social assistance, and health care, while jobs declined in leisure and hospitality. Incorporating Jun'26 numbers, the three-month average for payrolls now stands at about 111k, pointing to an overall resilient job market. The BLS also said the US unemployment rate ticked down to 4.2% in Jun'26 after plateauing at 4.3% over the last three months. Moreover, its weekly initial jobless claims were better than anticipated at 215k (vs 219k). Thus, US 10-Y bond yield and USD index was down to 4.49%, and 100.63, yesterday.

In Europe, the STOXX 600 closed higher (+1.41%) yesterday as the market expects fewer rate hikes from the Fed due to softer labor market report. While the good news is that EU' unemployment rate in May'26 stood at 6.2% (vs 6 3%) or slightly below expectations. In commodities, oil prices fell further yesterday as the market is still monitoring the progress in the Middle East with hopes to end the war and re-opens the Strait of Hormuz. Thus, both Brent crude oil and US WTI oil, declined to USD71.6 per barrel and USD68.47 per barrel, respectively yesterday.

Indices in Asia closed mixed yesterday; Nikkei (-2.47%), KOSPI (-7.89%), Hang Seng (+0.76%) and Shanghai (-2.03%). While, JCI closed higher (+0.87%) but with IDR237.87 bn net foreign outflows. Today, the JCI could 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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