Morning Chatter

KBVS MORNING CHATTER
Tuesday, 21 April 2026

Headline News :
•    Banking - Bank credit grew 10.42% yoy in Mar ‘26
•    TOBA – To disburse USD8.88 mn in dividend
•    ADHI – Supports SOE construction transformation
•    COCO – Plans an IDR1.06 tn rights issue
•    PGEO – Diversifying into data center & hydrogen fuel cell
•    EDGE – Plans to go private 
•    FORE – Opens 20 new stores in 1Q26

Market Commentary :
US and European indices closed lower yesterday (20/04): DJIA (-0.01%), S&P 500 (-0.24%,) Nasdaq (-0.26%), and STOXX 600 (-0.82%) amid market fears over escalating geopolitical tensions after US President Donald Trump seized an Iranian cargo ship in the Gulf of Oman and Iran's refusal to attend peace talks with the US in Islamabad, Pakistan. The tension also triggered a surge in oil prices, with US WTI rising 5.37% to USD88.37 per barrel. Meanwhile, the USD index fell to 98.05, but the US 10-year bond yield edged higher to 4.256%.
On the economic front, Canada's CPI came in at 2.4% yoy, below market expectations, while Germany's CPI rose to 2.5% yoy, surpassing market expectations for Mar '26.
In Asia, most indices closed higher, although the JCI ended lower (-0.52%) at 7,594.1, despite foreign net inflows of IDR256.2 bn in the regular market and IDR124.4 bn in the negotiated market. The IDR strengthened by 0.1% to IDR 17,170/USD. Today, we expect the JCI to edge higher, supported by the stronger IDR and the commencement of RDG BI, where the BI rate is expected to remain steady at 4.75%.

Regards,
KBVS Research Team

 

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