Morning Chatter

KBVS MORNING CHATTER
Thursday, 9 October 2025

Headline News :
•    BBTN - Optimistic government funds of IDR25 tn can be absorbed optimally
•    BUMI - Acquires 99.7% of Australia’s Wolfram
•    COCO – A IDR82.53 bn net loss in 1H25
•    MBTO – Targets 40% increase in digital sales during 2025 Harbolnas
•    JPFA – Performance on chicken prices recovery in 3Q25
•    BEEF – Expansion plan into the livestock business 
•    BIRD – More fleets after a strong 1H25 results
•    CPO - Targets B50 mandate by 2026

Market Commentary :
US stocks closed higher on Wednesday, led by technology shares, as investors awaited guidance from the Federal Reserve’s September meeting minutes amid a government shutdown that has halted economic data releases. The Dow was little changed, while S&P500 rose 0.58% and Nasdaq gained 1.12%. The Nasdaq outperformed, driven by AI-related megacaps and strong chip stock gains, helping S&P500 reach a record close. 
AI optimism continued to fuel market momentum, while rising geopolitical risks pushed gold above USD4,000 per ounce as investors sought safety. The Fed minutes showed a divided committee, with most members seeing room for additional rate cuts this year, though the timing remains uncertain. Markets are now pricing in a 92.5% chance of a 25bps cut at the upcoming October 29 meeting. 
Across Asia, markets were mixed on Wednesday. The World Bank raised its 2025 growth forecast for China to 4.8% from 4%, aligning more closely with Beijing’s 5% GDP target, following a brighter outlook for East Asia and the Pacific. 
The JCI edged down 0.04% to 8,166.03, with foreign investors recording a net sell of IDR455.3 bn. Asia-Pacific markets were set to open higher Thursday, tracking Wall Street’s gains as investors downplayed fears of an AI bubble. Meanwhile, Bank of England warned of a potential ‘sharp market correction’ if the AI rally falters.

Regards,
KBVS Research Team

 

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