Morning Chatter

KBVS MORNING CHATTER
Monday, 24 November 2025

Headline News :
•    BUMI - Gold output potential strengthens; bauxite reserves may rise
•    TOBA - Reconsiders joining Danantara’s PLTSa tender
•    TINS - Considering RKAP revision amid government push for higher output
•    HRTA - Signs gold supply agreement with BCA Syariah
•    OASA - Joins Grandblue Consortium for Danantara’s PLTSa tender
•    MDIY – Prepares for year-end sales boost with strategic promotions
•    TOBA – Issues IDR448.5 bn sukuk wakalah II
•    MRAT – Partners with RestockTech to digitalize supply chain
•    BEEF – Performance outlook strengthened by cold storage expansion
•    UNTR – Maintains 14.6 mn tonne coal target for FY25F
•    BIRD - Targets steady rental growth as year-end mobility rises
•    ITIC – Targets recovery in 4Q25 to match full-year 2024 performance
•    PTPP - Targets IDR1.6 tn divestment to strengthen financial position

Market Commentary :
US market sentiment is firmly positive as the holiday-shortened week begins. Dow futures are showing a robust gain of 200 points, signaling an attempt by the index to recover from recent volatility and extend its run toward all-time highs. This upswing is largely fueled by escalating expectations for a Federal Reserve interest rate cut in December, a view strengthened by recent commentary from dovish Fed officials and mixed signals from the labor market. In contrast, European stocks concluded the session lower. Lingering global volatility and a general risk-off tone across the Atlantic proved too strong, dragging down major indices as traders digested a mixed corporate earnings picture and continued global economic uncertainty.
Oil prices and energy stocks experienced a notable decline. This bearish pressure is directly tied to the announcement of a new Ukraine peace plan proposed by the Trump administration. Gold maintained a steady footing, with traders aggressively ramping up December rate cut bets. The expectation of lower borrowing costs in the near future enhances the appeal of non-yielding assets like the yellow metal, providing a strong floor despite its recent record-setting surge.
The Asia-Pacific region provided an early anchor for the global rebound, with major indices closing firmer on revived hopes of a Fed rate cut. This sentiment suggests a strong market bias toward anticipating a more accommodative monetary policy environment in the US. The Jakarta Composite Index, closed closed 0.07% lower to 8,414.35. The closest key economic metrics will come from Manufacturing OMI, balance of trade and inflation rate.

Regards,
KBVS Research Team

 

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