Morning Chatter

KBVS MORNING CHATTER
Friday, 11 September 2026

Headline News:
•    RATU – Books 102% yoy net profit growth in 1H26
•    IPAC – Plans go-private and delisting, offers public shares at IDR250/share
•    ERAL – Opens its 14th Wilson store at Plaza Indonesia
•    MITI – Adds four vessels worth IDR22.75 bn
•    MUTU – Sandiaga Uno joins as president commissioner
•    INPP – Prepares IDR400 bn Capex
•    AGII – Prepares IDR76.5 bn to redeem maturing bonds and sukuk
•    ARTO – No merger plan with BFIN in 2026
•    VICI – Sukses Sejati Sejahtera raises stake to 84.95%
•    UVCR – Sees B2C growth momentum continuing
•    LIFE – Books 69% yoy net profit growth in 1H26
        
Market Commentary:
US indices closed lower yesterday (10/09); DJIA (-0.60%), S&P 500 (-0.58%) and IXIC (-0.65%), dragged down by losses in the basic materials, utilities, and industrials sectors, amid hotter than anticipated US Producer Price Index (PPI) report in Aug'26 and escalating tensions in the Middle East. Based on the Bureau of Labor Statistics, headline PPI ticked up 5.4% yoy/0.4% mom in Aug'26, vs consensus estimates of 5.3% yoy/0.4% mom, respectively. On a core basis, PPI inched up 4.6% yoy/0.2% mom vs cons estimates of 4.6% yoy/0.3% mom, respectively. While, US labor market showed that its weekly initial jobless claims was higher than anticipated at 206k (vs 205k). Thus, both US 10-Y bond yield and USD index were up to 4.961% and 99.10, respectively. Based on CME FedWatch tool, the probability of a 25bps rate hike by Federal Open Market Committee (FOMC) on 16 Sep'26 now stood at 73% (up from 64% before the PPI data). Now, the market awaits for US Consumer Price Index (CPI) data, that will be released later today.

In Europe, the STOXX 600 closed lower (-0.7%) yesterday, as expectations of further interest rate hikes grew after European Central Bank (ECB) increased borrowing costs (25bps to 2.5%) and warned of higher inflation due to a war-driven energy shock. The ECB also lifted its FY26F economic growth projection to 0.9% (from 0.8% prior) and now expects inflation averaging 3% this year. In commodities, global oil prices still closed higher yesterday, on a resurgence in military action between US and Iran after a weeks-long stalemate over control of the Strait of Hormuz. Thus, Brent crude futures and US WTI crude futures were up to USD108.60 per barrel and USD103.87 per barrel, respectively.

Most of Asian indices closed lower yesterday; KOSPI (-0.25%), Shanghai (-0.43%), and Hang Seng (-1.27%), but Nikkei (+0.20%). JCI also closed lower (-1.33%) with IDR1.95 tn net foreign outflows. Today, JCI could continue to end lower due to stronger USD, continued net foreign outflows, amid higher global oil prices on tensions in the Middle East.

 

Regards, 
KBVS Research Team

 

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