Morning Chatter

KBVS MORNING CHATTER
Thursday, 9 July 2026

Headline News :
•    WMPP – 1Q26 bottom-line turned to a profit of IDR130.3 bn
•    KIJA - Advances SDG agenda through green and community initiatives
•    ADMF - Raises IDR2.5 tn from bond and sukuk issuances in 1H26
•    PMMP - IDR2.8 tn debt pile mounts as restructuring stalls
•    AMMN – Boosts copper and gold recovery using proprietary AI technology
•    SAME – Secures IDR4.0 tn financing for expansion
•    PEGE - Executes IDR94.45 bn rights issue
•    AVIA - Secures IDR15 bn from joint venture capital reduction
•    ASMI - Posts IDR57.10 bn net profit in FY25 turnaround
•    INTP – Cancels 84.53 mn treasury shares

Market Commentary :
US equities closed lower on Wednesday as renewed geopolitical tensions in the Middle-East weighed on investor sentiment after President Donald Trump said the interim agreement to end the Iran conflict had collapsed. The development raised concerns over further military escalation and the potential reinstatement of a US naval blockade following attacks on tankers transiting the Strait of Hormuz. Meanwhile, Iran launched strikes on Bahrain and Kuwait, intensifying fears of a broader regional conflict. 
The S&P500 declined 0.28% and DJIA fell 1.09%, while Nasdaq edged 0.20% higher, supported by selective strength in semiconductor stocks. The IMF also lowered its 2026 global growth forecast to 3.0%, citing elevated uncertainty from the Middle-East conflict. Meanwhile, the latest Fed minutes highlighted renewed inflationary concerns, reinforcing a more cautious policy stance.
Amid rising supply disruption risks, Brent crude surged 5.2% to USD78.02/bbl, while WTI advanced 4.4% to USD73.52/bbl. European equities broadly retreated, with the Stoxx600, FTSE100 and DAX declining 1.61%, 1.66% and 2.30%, respectively.
Asian markets also weakened, led by the Kospi (-5.4%) following sharp declines in Samsung Electronics and SK Hynix, while Nikkei225 fell 2.1% and Shanghai Composite declined 0.5%. The JCI dropped 1.89% to 5,873.37, amid net foreign outflows of IDR689.8 bn, bringing cumulative YTD foreign selling to IDR75.5 tn. Following S&P Dow Jones’ warning of a potential downgrade yesterday, we expect the JCI to remain under pressure in the near term, with escalating geopolitical risks and elevated oil prices likely to weigh on market sentiment.

Regards,
KBVS Research Team

 

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