Morning Chatter

KBVS MORNING CHATTER
Tuesday, 21 July 2026

Headline News:
•    TPIA – CA-EDC phase 1 progress reaches 72%
•    PTPP - Books 196.5% yoy net profit growth in 1H26
•    BOBA – 1H26 net profit rises 31.7% yoy
•    FORE – Targets 70% yoy net profit growth in 2026
•    GULA - Targets 50% yoy revenue growth in FY26 and new factory to operate in 2H26
•    SUNI - Wins IDR62.55 bn contract from Pertamina Hulu Rokan
•    TSPC - Partners with Chinese pharma to establish biopharmaceutical joint venture
•    BNBR – Diversifies energy portfolio into the waste-to-energy sector through Danantara
•    WISL – Ready to repay IDR845.5 bn bond due Aug '26
•    OASA – Accelerates 3 waste-to-energy project pipelines

Market Commentary:
U.S. markets closed lower on Monday’s (7/20), with DJIA (-0.6%), S&P 500 (-0.2%) and the Nasdaq (-0.05%). The decline was driven by escalating military tensions between the U.S. and Iran, which also pushed oil prices higher. Technology stocks, including Apple, also weighed on the indices. In financial markets, the U.S. 10-year Treasury yield fell (-8.7 bps) to 4.594%, while the U.S. Dollar Index rose to 100.98.

European markets also closed lower, with the Stoxx 600 (-0.3%), as investors remained cautious over worsening Middle East tensions that boosted oil prices and raised inflation concerns ahead of this week’s ECB interest rate decision.

Geopolitical concerns lifted WTI crude (+0.9%) to USD 83.2 per barrel and coal (+0.3%), while gold and nickel declined 0.2% each.

Asian markets closed mixed yesterday, with the Nikkei (-4.0%), Kospi (-4.5%), Hang Seng (+2.4%), and Shanghai (+0.9%). The Jakarta Composite Index (JCI) (+0.9%) to 6,231.8, with foreign investors recording a net buy of IDR156.5 bn in the regular market and a net sell of IDR59.8 bn in the negotiated market. Meanwhile, the rupiah weakened 0.3% to IDR 17,942. In economic side today Bank Indonesia’s July RDG meeting. We expect the JCI to move slightly higher amid mixed global and regional sentiment.

Regards, 
KBVS Research Team

 

Please click download button below for full report.

Download