The Indonesia stock market on Thursday ended the three-day slide in which it had stumbled more than 110 points or 1.9 percent. The Jakarta Composite Index now rests just beneath the 6,140-point plateau and it may extend its gains on Friday.
The global forecast for the Asian markets is upbeat amid bargain hunting from technology stocks, capped by stalled crude oil prices. The European markets were mixed and the U.S. bourses were up and the Asian markets figure to split the difference.
The JCI finished modestly higher on Thursday following gains from the cement and resource stocks, while the financials were also mostly in the green.
For the day, the index climbed 51.24 points or 0.84 percent to finish at 6,139.65 after trading between 6,051.85 and 6,139.81.
Among the actives, Bank Danamon Indonesia advanced 0.85 percent, while Bank CIMB Niaga collected 2.06 percent, Bank Negara Indonesia jumped 1.70 percent, Bank Mandiri climbed 2.16 percent, Bank Rakyat Indonesia fell 0.26 percent, Indosat rallied 2.43 percent, Indocement spiked 3.94 percent, Semen Indonesia accelerated 3.54 percent, Indofood Suskes added 1.22 percent, United Tractors skyrocketed 8.95 percent, Astra International rose 0.61 percent, Astra Agro Lestari surged 8.54 percent, Aneka Tambang strengthened 2.56 percent, Vale Indonesia improved 3.03 percent, Timah gained 2.99 percent, Bumi Resources soared 3.77 percent and Bank Central Asia was unchanged.
The lead from Wall Street suggests mild upside as the major averages opened lower on Thursday but gradually broke into positive territory as the day progressed, ending in the green.
The Dow rose 14.48 points or 0.04 percent to finish at 35,499.85, while the NASDAQ added 51.13 points or 0.35 percent to close at 14,816.26 and the S&P 500 gained 13,13 points or 0.30 percent to end at 4,460.83.
The choppy trading on Wall Street comes as traders digest separate reports from the Labor Department on weekly jobless claims and producer price inflation.
The Labor Department said initial jobless claims edged down to 375,000 last week, a decrease of 12,000 from the previous week’s revised level of 387,000. Also, the Labor Department said its producer price index for final demand surged 1.0 percent in July, matching the jump in June.
Crude oil prices drifted lower Thursday on concerns about outlook for energy demand after an International Energy Agency report said oil demand growth will likely ebb in the second half of the year. West Texas Intermediate Crude oil futures for September ended down by $0.16 or 0.2 percent at $69.09 a barrel.
Indonesia Bourse Poised To Add To Its Winnings
2021-08-13 02:00:29
