Morning Chatter

KBVS MORNING CHATTER
Friday, 10 October 2025

Headline News :
•    Banking - Purbaya's subordinates reveal bank reports after receiving IDR200 tn in funds
•    Automotive - Sept25 car sales down 15% yoy
•    WSKT – Sells 94.7% stake in Waskita Sangir Energi
•    TCPI – Plans fleet expansion with 27 new vessels
•    ADHI – Joins Philippines’ north-south commuter railway project
•    CMRY – Announces IDR793.46 bn interim dividend on strong 1H25 performance
•    SRAJ – Mayapada Hospital pays off IDR407.90 bn bond
•    GMFI – To conduct rights issue and asset inbreng worth IDR5.56 tn
•    KRAS – Proposes USD500 mn funding support from Danantara
•    VICI – Preparing to undergo halal certification program
•    JPFA – Subsidiary exports 28,512 live chickens to Singapore
•    CPO - B50 Implementation for 2H26

Market Commentary :
US indices closed lower on Thursday (09/10) ; DJIA (-0.52%), S&P 500 (-0.28%) and IXIC (-0.08%), as there is still no economic data for the market to see due to government shutdown or any sentiment swaying catalysts, thus the market took the opportunity to consolidate ahead of 3Q25F results season. Now, the market is currently pricing in a 94.6% likelihood that the Fed is going to implement a 25bps interest rate cut at the conclusion of its October 28-29 meeting, according to CME’s FedWatch tool. Thus, USD index fell to 98.65 but US 10-Y bond yield rose to 4.143%. 
In Europe, the STOXX600 fell 0.17% yesterday, dragged down by banking, automotive and technology sector, while market still wait and see ahead of 3Q25F earnings season, amid expectations of another rate cut by the Fed this month. At the same time, in France, political uncertainty continues after its PM resigned from his post recently. On commodity, oil prices declined, with Brent crude futures fell 1.5% to USD65.91 a barrel, and US WTI fell 1.6% to USD62.17 a barrel, due to Gaza' ceasefire.
In Asia, most indices closed higher yesterday, and JCI closed 1.04% higher, with a IDR1tn net foreign inflow. Today, JCI could close lower, due to a rebound in USD and global oil prices, amidst ongoing geopolitical uncertainties.

Regards,
KBVS Research Team

 

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