Morning Chatter

KBVS MORNING CHATTER
Wednesday, 15 July 2026

Headline News:
•    Metals – Freeport’s JIIPE Gresik copper smelter to resume operations in Sep ‘26
•    TPIA – Secures Danantara’s Waste-to-Energy project
•    BFIN – Responds to ARTO merger speculation
•    CGAS – Targets 13.7 MMSCFD CNG distribution capacity by ‘27F
•    WSBP – 1H26 net loss widens to IDR285.6 bn
•    PRDA - Targets up to 5% revenue growth in FY26
•    BRNA – Plans rights issue and debt-to-equity conversion
•    JAST - Signs MoU with Zevolve to accelerate AI adoption adoption across various sectors
•    INPP - Relies on new projects to drive 5%–10% revenue growth in FY26
•    PTPP - Secures IDR151.9 bn contract for ITS Tower 4 in Surabaya
•    TGUK - Frozen meat trading catapults 1Q26 sales to IDR200.7 bn

Market Commentary:
US stocks closed mostly higher on Tuesday (14/7); the DJIA added +0.02%, the S&P 500 gained +0.38%, and the Nasdaq advanced +0.90%. The broader market was lifted by a rebound in semiconductor stocks (Teradyne +3.55%, Micron +4.95%, Lam Research +4.90%) following the release of softer-than-expected inflation data. However, the DJIA’s progress was somewhat hampered by a steep drop in IBM (-25%), triggered by warnings from CEO Arvind Krishna that 2Q26 earnings would fall short of expectations amid softer demand. Meanwhile, the US Treasury 10-year yield fell -2.3 bps to 4.58% thanks to the cool inflation print, and the US Dollar Index slipped -0.31% to 100.92.

On the data front, the US CPI fell a seasonally adjusted -0.4% in June, bringing the annual inflation rate down to -3.5%, driven mainly by a sharp decline in energy prices. Economists surveyed by Dow Jones had anticipated a 0.2% drop and a 3.8% annual rate, following May's 4.2% reading. This monthly decline in headline inflation was the sharpest since Apr '20. Core CPI—which excludes volatile food and energy prices—was flat month-on-month, delivering a 0.0% reading against the 0.2% consensus and putting the 12-month rate at 2.6% against the 2.9% estimate. Additionally, Fed Chair Kevin Warsh testified before Congress on Tuesday, stating that the inflation surge of the past five years will soon be “a thing of the past.”

On the commodity front, Brent and WTI crude rose by more than +2% to USD 85.10 and USD 79.80 per barrel, respectively, after the US launched another strike on Iran prior to imposing a naval blockade. However, both benchmarks retreated from their session highs after President Donald Trump abandoned his demand that commercial ships pay a protection fee to transit the Strait of Hormuz.

In Europe, most major indices closed slightly higher; the Stoxx 600 rose +0.17%, the DAX added +0.13%, and the FTSE 100 gained +0.30%, largely supported by the soft US inflation data which helped offset concerns regarding escalating tensions in the Middle East. In Asia, broader markets ended in positive territory, including the Kospi (+0.73%), Nikkei (+0.74%), and Hang Seng (+0.52%). In Indonesia, the JCI ended flattish (+0.03% to 6,039.5) alongside a net foreign outflow of IDR830.6 bn. Looking ahead, we expect the JCI to close higher today, buoyed by positive sentiment across global and regional markets.

 

Regards, 
KBVS Research Team

 

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Unduh