Morning Chatter

KBVS MORNING CHATTER
Friday, 19 December 2025

Headline News :
•    PTRO – Secures EPC and IFM contracts for Aster Chemical facilities in Singapore
•    SGRO – Spent IDR230 bn of 2025 capex in 9M25
•    PYFA – Strengthening ESG credentials through Australian subsidiary
•    BIRD – Year-end demand uplift supports fleet utilization
•    ADHI – A IDR14.1 tn new contracts in 11M25
•    FUJI – Optimistic on achieving 15–20% yoy financing growth target
•    PRDA – Targets continued growth via expansion into regenerative healthcare
•    SMGR – Weak demand weighs on 2025 performance

Market Commentary :
US indices closed mixed on Thursday (18/12); DJIA (+0.14%), S&P 500 (+0.79%) and IXIC (+1.38%), driven by a rebound in big tech stocks as weaker-than-expected consumer inflation (CPI) data boosted market expectations for further interest rates cuts by the Fed in 2026. Note that, US CPI and core CPI grew 2.7% yoy and 2.6% yoy, respectively in Nov'25. Moreover, the US labor market reported that the country' weekly intial jobless claim was at 224k or in-line with market' anticipation but lower than previous (237k). Thus, USD index was slightly up to 98.44, but US 10-Y bond yield fell to 4.14%, yesterday.
In Europe, the STOXX600 ended up 0.93% yesterday on the back of lower than expected US inflation and the European Central Bank' (ECB) positive view of the economy after keeping rates on hold at 2.15% with deposit rate at 2% and lending rate at 2.4%. While, Bank of England (BoE) cut its rates by 25bps to 3.75%. On commodity, both Brent crude futures and US WTI were up to USD59.8 per barrel and  USD56.15 per barrel, respectively yesterday as the market' rising fear of supply disruptions due to US had block Venezuelan oil tankers and may impose further sanctions on Russia’s energy sector.
Most indices in Asia closed lower yesterday, and JCI closed 0.68% lower, but with IDR1.02 tn net foreign inflow. Today, the JCI could continue to close lower due to a stronger USD and higher global oil prices, amid rising geopolitical uncertainties.

Regards,
KBVS Research Team

 

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