Morning Chatter

KBVS MORNING CHATTER
Thursday, 27 March 2025

Headline News :
•    INDF - Posts profit of IDR8.64 tn
•    ICBP - Records profit of IDR7.07 tn
•    MIKA - A 25.1% yoy net profit growth in FY24
•    ERAA - A IDR1.03 tn net profit in 2024
•    CLEO – Net profit grew 46% yoy in 2024
•    HOKI - A bigger net loss despite a slight revenue growth

Market Commentary :
US markets closed lower, with the S&P500 down 1.12%, DJIA falling 0.31% and Nasdaq dropping 2.04% as Nvidia slid nearly 6%. Meta, Amazon and Alphabet also declined more than 2%. Stocks showed signs of stabilizing despite pressure from tariff uncertainty, which threatened growth and profits. 
The US Commerce Department reported a 0.9% rise in durable goods orders, defying expectations of a 1% decline in a Reuters poll. The increase was driven by businesses rushing to secure primary and fabricated metal products ahead of expected tariffs. On Monday, Trump announced upcoming automobile tariffs, though he suggested not all levies would take effect on April 2, with some countries potentially receiving exemptions. He also imposed a 25% secondary tariff on nations purchasing oil or gas from Venezuela. 
The dollar index rose 0.3% to 104.6, while the euro fell 0.4% to USD1.0751. US Treasury yields rose, with the 10yrs yield up 4.2bps to 4.333% after a USD70 bn five-year note auction. 
Meanwhile, European stocks have outperformed US markets this year, bolstered by optimism over a German spending package expected to support growth and offset tariffs. The Stoxx600 index was on track for its biggest percentage gain since 4Q22. 
Several Federal Reserve officials cautioned against cutting rates too quickly amid economic uncertainty. Meanwhile, oil prices rose after data showed a drop in US crude and fuel inventories, with WTI up 0.94% to USD69.65 and Brent gaining 1.05% to USD73.79. 
Yesterday, Asia-Pacific markets closed higher, with the ASX200 up 0.71%, Nikkei225 gaining 0.65%, Kospi rising 1.08% and Hang Seng added 0.60%. Indonesia’s JCI surged 3.80% to close at 6,472.36.

Regards,
KBVS Research Team

 

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