Morning Chatter

KBVS MORNING CHATTER
Friday, 15 August 2025

Headline News :
•    INCO - ~2.2 Mt approval for Bahodopi
•    SMGR – Pefindo maintains idAAA rating
•    PIPA – Secures strategic partnership for energy sector
•    MDIY – Inaugurated 1,100th store in PIK 2
•    HEAL – New hospital expansion
•    INTP – Net profit grew 13.8% yoy in 1H25
•    ACES – Net profit declined 19.92% yoy in 1H25
•    JSMR – To repay bond worth IDR286 bn

Market Commentary :
On Thursday (14/08), US indices closed mixed; DJIA (-0.02%), S&P 500 (+0.03%) and IXIC (-0.01%), on higher than expected US producer prices index' (PPI) July'25 report dampened expectations of potential interest rate cuts. US PPI and core PPI grew by 3.3% yoy/0.9% mom and 3.7% yoy/0.9% mom, respectively in July'25, or also higher than prior. While, US weekly initial jobless claims was better than anticipated at 224k and also lower than previous (227k). Thus, the USD index and US 10-Y bond yield rose to 98.05 and 4.289%, respectively with the market still expecting the Fed to cut rates by around 25 bps in September 2025.
In Europe, STOXX600 closed 0.6% higher yesterday, driven by aerospace & defence stocks and financials as the market assessed results from corporates. EU also reported its GDP that grew 1.4% yoy/0.1% mom in 2Q25. On commodity, Brent crude futures was up 1.84% to USD66.84 a barrel, and US WTI was up 2.09% to USD63.96 a barrel, yesterday after US President Donald Trump warned of consequences, if Russia blocked a Ukraine peace deal, injecting concerns about supply.
Yesterday, most of indices in Asia closed lower, but JCI closed 0.49% higher  with a IDR827.43 bn net foreign inflow. The JCI may close higher today supported by a stronger IDR amidst higher global oil prices and toned down geopolitical and economic uncertainties.

Regards,
KBVS Research Team

 

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