Morning Chatter

KBVS MORNING CHATTER
Friday, 22 May 2026

Headline News :
•    MTDL – Subsidiary launches SecBox
•    PGAS – Securing key deal for gas supply from Masela Block
•    SMGR – Partners with BRIN to develop eco-friendly building materials
•    INTP – To disburse a IDR468 per share dividend and plans a IDR750 bn share buyback
•    JSMR – To disburse a IDR156.2 per share dividend
•    PYFA – Intensifies hantavirus preventive education
•    DSSA – Subsidiary Asix to deploy AI-based educational smartboards in Indonesian
•    RMKE - To disburse IDR130.9 bn in dividends
•    MLPT - Plans 1:25 stock split
•    RATU – Secured approval for SMS Development acquisition

Market Commentary :
US indices closed higher yesterday (21/05); DJIA (+0.55%), S&P 500 (+0.17%) and IXIC (+0.09%), rebounding from earlier losses after a report that a final draft of a US - Iran peace agreement had been reached with Pakistan' help as mediator. On economy, US' May'26 manufacturing PMI was above expectations at 55.3 (vs 53.8). On the other hand, US' May'26 services PMI was below expectations at 50.9 (vs 51.1). While, the US dept of labor reported that its weekly initial jobless claims were better than anticipated at 209k (vs 210k). Thus, US 10-Y bond yield declined to 4.573%, but USD index rose to 99.22, yesterday. 
In Europe, the STOXX 600 closed sideways (+0.04%) yesterday as the market was optimistic about possible progress in peace talks over the Middle East war. On economy, EU, France, Germany and UK released their May'26 manufacturing, and services PMI. For May'26 manufacturing PMI, EU, France, and Germany were at 51.4 (vs 51.7), 48.9 (vs 52.1), and 49.9 (vs 51), respectively or below expectations, with only UK was above expectations at 53.7 (vs 52.9). For May'26 services PMI, EU, France and UK were at 46.4 (vs 47.8), 42.9 (vs 46.6), and 47.9 (vs 51.7), respectively or below expectations, with only Germany was above expectations at 47.8 (vs 47.1). Moreover, EU' consumer confidence index (CCI) in May'26 was better than expected at -19 (vs -21). In commodities, oil prices were higher at earlier trading, after Iran’ supreme leader issued a directive that the country’s near-weapons-grade uranium should not be sent abroad. Yet, yesterday, both Brent crude and US WTI closed lower to USD102.58 per barrel and USD96.35 per barrel, after news on the latest progress of final draft peace agreement between US - Iran, was released. 
Indices in Asia closed mixed yesterday; Nikkei (+3.14%), KOSPI (+8.42%), Hang Seng (-1.03%) and Shanghai (-2.04%). While JCI closed lower (-3.54%) with IDR544.89 bn net foreign outflows. Today, the JCI could continue to close lower on IDR weakening vs USD, and rebound in global oil prices, despite a more toned-down geopolitical tensions in the Middle East.

Regards,
KBVS Research Team

 

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