The Indonesia stock market on Friday halted the four-day winning streak in which it had jumped more than 130 points or 2.2 percent. The Jakarta Composite Index now rests just above the 6,200-point plateau and it may extend its gains on Monday.
The global forecast for the Asian markets is cautiously optimistic, although weakness from the technology and oil stocks may limit the upside. The European and U.S. markets were mostly higher and the Asian bourses figure to follow suit.
The JCI finished barely lower on Friday following losses from the financials and a mixed picture from the resource stocks.
For the day, the index eased 1.99 points or 0.03 percent to finish at 6,203.43 after trading between 6,190.86 and 6,263.54.
Among the actives, Bank CIMB Niaga retreated 1.49 percent, while Bank Negara Indonesia tumbled 1.44 percent, Bank Central Asia tanked 2.22 percent, Bank Mandiri skidded 1.24 percent, Bank Rakyat Indonesia plunged 2.96 percent, Indosat advanced 0.82 percent, Indocement rallied 2.27 percent, Semen Indonesia added 0.60 percent, Indofood Suskes gained 0.40 percent, Astra International climbed 1.02 percent, Astra Agro Lestari fell 0.31 percent, Aneka Tambang declined 1.69 percent, Vale Indonesia rose 0.40 percent, Timah dropped 0.99 percent and Bumi Resources, Bank Danamon Indonesia and United Tractors were unchanged.
The lead from Wall Street is mixed as the Dow and S&P opened higher on Friday and finished at record closing highs – while the NASDAQ opened in the red and the finished under water.
The Dow added 144.26 points or 0.41 percent to finish at 35,208.51, while the NASDAQ lost 59.36 points or 0.40 percent to close at 14,835.76 and the S&P 500 rose 7.42 points or 0.17 percent to end at 4,436.52.
The mixed performance on Wall Street came as better than expected jobs data added to economic optimism but also raised concerns about the outlook for monetary policy. The Labor Department said non-farm payroll employment spiked by 943,000 jobs in July after surging by an upwardly revised 938,000 jobs in June.
Last week, Federal Reserve Chair Jerome Powell indicated further progress was needed in labor market recovery before the central would consider scaling back stimulus.
The price of crude oil moved lower again on Friday as concerns about the outlook for global demand amid a surge in coronavirus infections overshadowed upbeat U.S. jobs data. West Texas Intermediate crude oil for September delivery slid $0.81 or 1.2 percent to $68.28 a barrel, plunging 7.7 percent for the week.
Closer to home, Indonesia will see July results for its consumer confidence index later today; in June, the index score was 107.4.
Indonesia Stock Market May Add To Its Winnings
2021-08-09 02:00:30
