Morning Chatter

KBVS MORNING CHATTER
Wednesday, 22 January 2025

Headline News :
•    BBTN - Eyes further Islamic Banking consolidation after BVS acquisition
•    BBCA - Disburses IDR125 tn in SME loans in 2024, driving 14% yoy growth
•    GOTO - Doubling loan disbursements target for 2025 
•    TBIG – Secures Fitch ‘AA+(idn)’ rating
•    BBRI - Will disburse subsidized mortgages of IDR2.92 tn
•    MEGA - Optimistic about positive growth in Islamic banking business in 2025
•    ACES – Sales grew 12.1% yoy/26.5% mom in Dec'24
•    CMRY – Could be impacted by sugar tax implementation
•    TPIA – To settle bonds worth IDR1.4 tn in 2025
•    PTPP – Implementing green innovation on the Semarang-Demak toll road
•    SMAR – A IDR625 bn bond settlement in Feb'25
        
Market Commentary :
U.S. indices closed higher on Tuesday (Dow +1.24%, S&P 500 +0.88%, Nasdaq +0.64%) as Wall Street ended the first trading day of President Donald Trump's second term on a positive note. The UST 10-year yield fell by -0.01 bps to 4.574%, its lowest level in three weeks, following Trump's decision to delay immediate tariffs. Meanwhile, the USD Index declined by -0.14% to 108.95.
Commodities closed mostly higher: coal +2.34% to USD 124.45/ton, CPO +1.28% to MYR 4,260 on China demand optimism, gold +1.35% to USD 2,744.8/oz, while Brent oil dipped -0.56% to USD 79.37/bbl on tariff delay and U.S. production push.
Asian markets closed mixed: Kospi fell -0.08% and Shanghai -0.05%, while Hang Seng gained +0.91% and Nikkei rose +0.32%. Meanwhile, the JCI edged up +0.15% to 7,181.8, with a net foreign sell of IDR437 bn.
Today, Asian markets opened stronger: Kospi +0.58%, Nikkei +1.13%. JCI may rise today, supported by softer Trump tariff rhetoric and higher commodity prices.

Regards, 
KBVS Research Team

 

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