Morning Chatter

KBVS MORNING CHATTER
Monday, 13 April 2026

Headline News :
•    BBRI - Results of AGM : dividend of IDR346 per share
•    MIKA – IDR1 tn capex for 2026
•    TMAS – Enhancing operational efficiency amid rising logistics costs
•    BBTN - KUR BTN reaches IDR2.72 tn by Mar ‘26
•    VKTR – Plans a rights issue of up to 21.87 mn shares
•    CMRY – Allocates IDR793.47 bn for final cash dividend payout
•    TOBA - Bacelius Ruru resigns as president commissioner
•    ASLC – IDR 20bn buyback plan
•    BULL – Director acquires 13.7 mn shares for IDR5.86 bn
•    Automotive - Car sales in Mar ‘26 tanked by 13.8% yoy
•    Automotive - Electric car sales soar 95% in 1Q26
•    Automotive - after a two-month surge, 2W sales plunged in Mar ‘26

Market Commentary :
Global equities navigated a complex geopolitical landscape this week as a fragile ceasefire deal between Iran and Israel spurred a significant "risk-on" rotation. The S&P 500 saw a minor pullback, yet the broader sentiment remains bullish. The VIX index decline 1.33%, representing softer market volatility expectations. From Europe market, several benchmark indices in the region closed in the green, though the defense sector faced a sharp sell-off. Reports of progress in Ukraine-Russia negotiations have prompted investors to rotate out of "war hedges" and back into cyclical recovery plays.
U.S. Crude (WTI) slid < USD100/bbl following President Trump’s demand for the immediate reopening of the Strait of Hormuz. Gold 0.98% lower, yet retains a bid as markets remain cautious, awaiting official verification of the U.S.-Iran truce status. Meanwhile, US dollar recorded milder ahead of high-stakes peace talks.
From APAC zone, benchmark indices in region mostly closed in green, amid the lingering anxiety on the Strait of Hormuz update. While a diplomatic talk is underway, the physical flow of trade remains a focal point for regional stability. The JCI delivered an outsized performance, surging +150.91 points (+2.07%) to close at 7,458.50. The local rally suggests a potential capital inflow as global tensions ease, providing a tailwind for emerging market assets. We expect heightened volatility around the following releases of several key data updated from retail sales, followed by interest rate decision, loan growth and money supply in the following week.

Regards,
KBVS Research Team

 

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