Nikkei 225 opened substantially higher by 5.63% this morning in Tokyo, while All Ordinaries regained 1.21% in Sydney as Wall Street avoided the projected Black Monday. Plans from over 50 countries to negotiate trade deals with Trump administration might have contributed to the recovery.

Shares of nickel producer Merdeka Battery Materials (MBMA) were last traded at Rp300, not even half of the price set in the company’s initial public offering (IPO) two years ago as nickel has been under substantial pressure from oversupply and growing competition from LFP in the EV battery market.

Asian stock markets opened further down Monday (Apr 7) morning as countries rolled out retaliatory measures against Trump’s sweeping tariffs. Nikkei 225 fell as much as 8%, while All Ordinaries lost 5.7% in the opening trading hour. KOSPI index also opened lower by 5.4%, while IDX will only resume trading Tuesday (Apr 8).

PT Super Bank Indonesia, a ‘digital bank’ co-owned by Emtek Group, Kakaobank, SingTel, and Grab, reportedly prepares an initial public offering (IPO) on the Indonesia Stock Exchange (IDX) with target valuation between US$1.5 billion and US$2 billion, which will make it bigger than BankJago (ARTO), where Gojek is a substantial shareholder. 

Shares of PT Aspirasi Hidup Indonesia (ACES) Tbk, previously PT ACE Hardware Indonesia Tbk, operator of AZ.KO, ended substantially lower by 3.9% to Rp500 last Thursday (Mar 27) to make a market capitalisation of Rp8.6 trillion. The stock has lost 57% its value in the past six years, but clearly not because of the end of ACE Hardware license deal. 

Wall Street ended further lower ground Friday (Apr 4) as China, the world’s second largest economy, announced retaliatory measures against unilateral decision from US president Donal Trump to raise tariffs. Dow Jones Industrial Average (DJIA) lost 5.5%, while S&P 500 fell almost 6%.

For the full year 2024, SeaBank reported a net profit of Rp370.3 billion, a substantial jump from previous years. Total assets reached Rp34.7 trillion, with net loans of Rp19.6 trillion and third-party funds (DPK) of Rp26.6 trillion.

Shares of Indofood Sukses Makmur (INDF), the largest food processor in the country, ended higher by 2.5% last Thursday (Mar 27), while subsidiary Indofood CBP Sukses (ICBP) closed lower by 3.6% as investors reassessed fair valuation.

The Ministry of Housing and Settlement (PKP) plans to build 220,000 subsidized homes for workers with low income through housing financing liquidity facility (FLPP). This is part of President Prabowo Subianto’s 3 million homes per year flagship program, for which a total of Rp 40.27 trillion has been budgeted.