Today’s Outlook :
• US MARKET : The three major U.S. indexes closed in the red, snapping their previous upward trend. The S&P 500 fell about 0.2%, the Nasdaq Composite declined 0.3%, and the Dow Jones Industrial Average edged lower. The decline was driven by rising geopolitical uncertainty in the Middle East. Iran re-closed the Strait of Hormuz over the weekend, while conflicting signals emerged regarding potential peace talks in Pakistan. At the same time, the U.S. seized an Iranian cargo vessel, prompting threats of retaliation from Tehran. A sharp spike in oil prices on Monday further weighed on investor sentiment amid concerns over energy supply. Market attention is now focused on planned talks in Islamabad on Tuesday, where U.S. officials are expected to continue a second round of discussions aimed at de-escalating tensions.
Apple shares fell more than 1% after market close following the announcement that Tim Cook will transition to executive chairman and John Ternus will become CEO starting September 1, 2026. The decision was unanimously approved by the board of directors but still came as a surprise to investors. Cook will remain CEO through the summer to ensure a smooth transition.
• EUROPEAN MARKET :European stock markets closed lower on Monday as investors reassessed rising tensions between the U.S. and Iran, which have reduced hopes for the reopening of tanker routes through the Strait of Hormuz. The Stoxx 600 index fell 0.8%, Germany’s DAX declined 1%, France’s CAC 40 dropped 1.1%, and the U.K.’s FTSE 100 slipped 0.6%. Shares of European luxury companies came under pressure as the Iran conflict is expected to impact sales. Meanwhile, the travel and leisure sector also weakened due to the potential rise in fuel costs triggered by the Middle East conflict.
• ASIAN MARKET : Asian stock markets rose on Monday, supported by moderate gains in technology stocks, although overall sentiment remained cautious amid escalating U.S.-Iran tensions. Japan’s Nikkei 225 gained 1%, while the broader TOPIX index rose 0.7%. In South Korea, the KOSPI advanced 1.1%, driven by a more than 3% jump in SK Hynix shares after the company announced it would begin production of SOCAMM2 server modules for Nvidia’s next-generation Vera Rubin chips.
• COMMODITIES : Oil prices fell on Tuesday, reversing sharp gains in the previous session, as hopes increased that U.S.-Iran peace talks will take place soon and reopen supply from the Middle East. Brent crude fell 95 cents, or about 1%, to USD 94.53, while May WTI crude dropped USD 1.54, or 1.72%, to USD 88.07. The May contract is set to expire soon, while the more active June contract declined USD 1.09, or 1.3%, to USD 86.37. Previously on Monday, oil prices surged sharply—Brent rose 5.6% and WTI 6.9%—after Iran again shut the Strait of Hormuz and the U.S. seized an Iranian cargo ship as part of a blockade on the country’s ports.
• INDONESIA : The JCI closed down 0.75% in the red at 7,594, still facing resistance in the 7,600–7,700 range. The Indonesian market has started to show resilience to U.S.-Iran geopolitical tensions, while the IHSG reform agenda—marked by the release of HCL—has provided a positive catalyst. However, caution is still warranted due to potential volatility amid ongoing geopolitical risks. Today, the index is expected to correct in line with MSCI sentiment, as Indonesia has yet to see a new rebalancing, along with potential corrections in BREN and DSSA, which may face outflows following the May 2026 update, where stocks categorized as HCL are expected to be removed from the MSCI Indonesia index.
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