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Daily Market Wrap

January 13, 2026

13 January 2026
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January 13, 2026

NEWS

  • America : Wall Street closed higher with the Dow up 0.17%, the S&P 500 up 0.16%, and the Nasdaq up 0.26%, supported by a surge in Walmart (+3%) which pushed the basic consumption sector up 1.4%. In contrast, banking stocks were under pressure following Donald Trump's proposal to cap credit card interest rates at 10%. Political uncertainty pushed gold to a record high of over US$4,600/oz and weakened the US dollar. The market's focus is on the release of US CPI data for clues on the Fed's policy direction.
  • Asia : Asian markets were mixed, with the KOSPI up 0.84%, China's SSE up 1.09%, and the Hang Seng up 1.44%, while Japan was closed for a holiday. Sentiment was driven by expectations of US interest rate cuts and the Wall Street rally, but gains were selective due to gold's surge to record levels. Globally, investors are beginning to look at non-US assets amid uncertainty over US policy. Asian stock valuations remain attractive (~15x PE) compared to the S&P 500 (~22x) and Nasdaq 100 (~25x).

MARKET UPDATE

  • The JCI weakened -0.58% to 8,884, driven by profit taking after failing to stay above the 9,000 level, with high intraday volatility and briefly falling to 8,715. The decline was broad-based, weighing on the infrastructure and technology sectors, while transaction value remained active at IDR 31.9 trillion. Market sentiment remains cautious due to foreign exchange pressure, selective foreign outflows, and anticipation of US inflation data and rising global geopolitical risks.
  • The 10-year SUN yield rose to 6.17%, indicating limited selling pressure in the domestic bond market amid the weakening of the Rupiah. However, the yield increase remains relatively contained, with stable yields reflecting investor interest in safer assets amid stock volatility. Nevertheless, the rise in the 10-year U.S. Treasury yield remains a future risk as it narrows the relative appeal of emerging market bonds, including Indonesia's.


Source : Bloomberg, Infovesta

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This document was prepared by PT KB Valbury Asset Management based on information from reliable sources. PT KB Valbury Asset Management does not guarantee the accuracy, adequacy or completeness of the information and materials provided. PT KB Valbury Asset Management Indonesia is not responsible for any legal and financial consequences arising from actions taken based on this document, whether suffered by any person or party.