The Indonesia stock market has finished lower in two straight sessions, sinking more than 20 points or 0.3 percent along the way. The Jakarta Composite Index now sits just beneath the 6,070-point plateau although it may find traction on Friday.
The global forecast for the Asian markets is mixed, with support from technology stocks and weakness from oil companies. The European and U.S. markets were mixed and the Asian bourses are expected to follow suit.
The JCI finished slightly lower on Thursday following losses from the cement stocks and mixed performances from the financials and resource companies.
For the day, the index slid 10.12 points or 0.17 percent to finish at 6,068.45 after trading between 6,034.83 and 6,082.29.
Among the actives, Bank Danamon Indonesia collected 0.45 percent, while Bank CIMB Niaga shed 0.54 percent, Bank Negara Indonesia surrendered 2.33 percent, Bank Central Asia slid 0.86 percent, Bank Mandiri skidded 1.20 percent, Bank Rakyat Indonesia improved 0.50 percent, Indosat gained 0.38 percent, Indocement tumbled 1.78 percent, Semen Indonesia plunged 2.94 percent, Indofood Suskes lost 0.40 percent, United Tractors tanked 2.87 percent, Astra International fell 0.97 percent, Astra Agro Lestari retreated 1.49 percent, Aneka Tambang added 0.43 percent, Vale Indonesia sank 1.30 percent, Timah dropped 1.32 percent and Bumi Resources declined 1.64 percent.
The lead from Wall Street is wildly inconsistent as the major averages opened slightly higher on Thursday but then went off on their own different directions. The NASDAQ stayed positive, the Dow stayed negative and the S&P 500 hugged the line and finished barely in the red.
The Dow dropped 210.22 points or 0.62 percent to finish at 33,823.45, while the NASDAQ spiked 121.67 points or 0.87 percent to end at 14,161.35 and the S&P 500 eased 1.84 points or 0.04 percent to close at 4,221.86.
The mixed performance on Wall Street came as traders moved out of cyclicals and into tech stocks after Wednesday’s announcement from the Federal Reserve, which saw the central bank move up its timeline for raising interest rates.
In economic news, the Labor Department noted an unexpected uptick in initial jobless claims last week. Also, the Federal Reserve Bank of Philadelphia showed Philadelphia-area manufacturing activity expanded at a slightly slower rate in June.
Crude oil prices tumbled on Thursday, weighed down by a stronger dollar after Federal Reserve officials projected that interest rates might be hiked by 2023. West Texas Intermediate Crude oil futures for July ended down by $1.11 or 1.5 percent at $71.04 a barrel.
Indonesia Bourse Tipped To End Losing Streak
2021-06-18 02:00:45
