JCI touched -2% this morning, due to several noises in the market as well as concerns on domestic growth story. Top laggard this morning was Bank Rakyat Indonesia (BBRI IJ) which reported Jan’25 results yesterday. The weak result surprised the market as their net profit declined by -58% YoY from lower interest income and frontloaded provision charges. USDIDR also weakened for the fourth day in a row today, depreciating by 126 points this morning, further fueling foreign investors’ concern. Other than that, there were also several domestic headline news that adds the concern to the market and may become an overhang.

In the US market, initial jobless claims was reported above expectation at 242k (vs. consensus at 222k, previous week 220k) yesterday, bringing down S&P500 Index by -1,6% on Thursday. DXY inched higher for the third day in a row to 107,4.