Morning Chatter

KBVS MORNING CHATTER
Tuesday, 2 December 2025

Headline News :
•    ENRG - New gas discovery in Sengkang
•    BUMI - Issues IDR780 bn bond for acquisitions
•    MDKA - USD50 mn affiliate loan to EMAS
•    RATU - Wins bid to acquire indirect stake in Madura Block
•    TOTL – Targets IDR3.8 tn revenue in 2026; wins IDR5.27 tn new contracts
•    GIAA – Operates 90 aircraft following IDR23.7 tn injection from Danantara
•    PJAA – Targeting 800,000 visitors during Christmas and new year holidays
•    MLBI – Optimizing sales ahead of the Christmas and new year holidays
•    BFIN – To distribute interim dividend
•    MIDI - Boosts green energy efforts to lower costs and emissions
•    ADHI - Completes ISO surveillance audit with zero findings
•    CSAP – 9M25 revenue grows 1.2% yoy to IDR12.9 tn
•    JPFA – MBG Program and rising poultry prices strengthen 2026F outlook

Market Commentary :
US Stock are currently registering marginal deviations as investors digest the implications of the prior session, which saw major U.S. indices decisively break a five-day sequence of gains. This pause in the recent bullish momentum suggests a period of consolidation or profit-taking as the market enters the final month of the year.
The start of December proved deleterious for European bourses, which opened the month in negative territory. This decline was heavily exacerbated by a sharp sell-off in aerospace giant Airbus, whose stock plummeted by over 5% (with reports indicating drops closer to 9-10% intraday). The pronounced slide in Airbus shares stemmed from reports citing a newly identified industrial quality issue concerning fuselage panels on a limited number of its A320-family aircraft, as well as regulatory-mandated software fixes following a weekend glitch. This corporate-specific headwind contributed significantly to the broader industrial sector's underperformance in the pan-European STOXX 600 index.
The commodity and foreign exchange markets are experiencing notable volatility, driven by a convergence of geopolitical supply risks and divergent central bank policy expectations. Oil prices advanced more than 1%, buoyed by a significant two-fold catalyst: (1) OPEC+ action and (2) escalating geopolitical risk. Gold prices surged to a six-week high, a move firmly underpinned by rising market conviction in an impending dovish pivot by the U.S. Federal Reserve.
Asian markets are exhibiting a mixed performance at the commencement of December trading, reflecting a regional struggle to reconcile global easing expectations with disappointing domestic macro data from China. The Jakarta Composite Index closed +40.08 higher to 8,548.79. Following foreign exchange reserves released on this Friday, next week market will get a data update from retail sales, consumer confidence and 2W sales.

Regards,
KBVS Research Team

 

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