Morning Chatter

KBVS MORNING CHATTER
Thursday, 26 February 2026

Headline News :
•    BBTN - Net profit soars 578% yoy as of Jan 26
•    Banking - Bank credit grows 10.2% yoy in Jan 26
•    ITMG - FY25 inline
•    ELPI – Secures IDR395.2 bn investment credit from BMRI
•    FORE – Anticipating a single digit contribution from Fore donut in '26F
•    ACES – Potential performance recovery this year

Market Commentary :
US equities closed higher on February 25, extending the tech-led rebound to two-week highs as concerns over AI disruption eased and confidence in long-term monetization improved. The Nasdaq rose 1.26%, outperforming the S&P500 (+0.81%) and Dow (+0.63%), with semiconductors leading gains. Nvidia reported 4Q revenue of USD68.1 bn, ahead of expectations, lifting its shares ~3% in extended trade and buoying broader AI sentiment; the Philadelphia Semiconductor Index advanced 1.6% ahead of the release. The S&P Software & Services Index rebounded 2.9%, partially recovering its ytd drawdown as investors selectively rotated back into AI-linked names. While debate over AI’s disruptive impact versus earnings visibility persists, near-term price action signals renewed confidence in delivery. Sector performance was mixed, with technology leading and industrials lagging. Into month-end, focus remains on AI execution, capex sustainability, and incremental macro signals. 

On Wednesday, South Korea (+1.91%) and Japan (+>2%) rallied to fresh record highs, tracking Wall Street’s tech strength and easing fears of AI-driven disruption across select industries. 
Oil prices were broadly flat. A sizable US crude inventory build offset rising geopolitical risk premiums linked to potential US–Iran tensions. Brent edged up 8 cents to USD70.85/bbl, while WTI slipped 21 cents to USD65.42/bbl, underscoring a market balanced between soft near-term fundamentals and latent supply-side risk. 

The JCI gained 0.50% to 8,322.23, supported by BBRI, BBCA, and INKP, while BREN, BMRI, and TPIA lagged. Foreign investors recorded a net buy of IDR2.74tn, concentrated in RISE, BBRI, IMPC, SUPA, and BBCA.

 

Regards, 
KBVS Research Team

 

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