The Indonesia stock market on Thursday halted the three-day winning streak in which it had climbed almost 270 points or 2.4 percent. The Jakarta Composite Index now rests just shy of the 7,150-point plateau although it’s expected to rebound on Friday.
The global forecast for the Asian markets is positive thanks to optimism over the outlook for interest rates. The European and U.S. markets were up and the Asian bourses figure to open in similar fashion.
The JCI finished barely lower on Thursday following losses from the financial shares and mixed performances from the cement and resource stocks.
For the day, the index eased 0.25 points or 0.00 percent to finish at 7,148.72 after trading between 7,117.98 and 7,209.08.
Among the actives, Bank Danamon Indonesia collected 0.78 percent, while Bank Negara Indonesia surrendered 3.54 percent, Bank Central Asia retreated 2.26 percent, Bank Mandiri tanked 3.53 percent, Bank Rakyat Indonesia stumbled 3.24 percent, Indosat skyrocketed 8.92 percent, Indocement strengthened 1.29 percent, Semen Indonesia tumbled 1.71 percent, Indofood Suskes jumped 1.52 percent, United Tractors climbed 1.04 percent, Astra International dipped 0.34 percent, Energi Mega Persada plummeted 4.24 percent, Bakrie Sumatera Plantations advanced 0.87 percent, Astra Agro Lestari skidded 1.04 percent, Vale Indonesia plunged 3.65 percent, Timah surged 5.00 percent and Bumi Resources, Bank CIMB Niaga and Aneka Tambang were unchanged.
The lead from Wall Street is firm as the major averages shook off early weakness on Thursday and picked up steam as the day progressed, ending near session highs.
The Dow jumped 435.05 points or 1.33 percent to finish at 33,248.28, while the NASDAQ spiked 322.44 points or 2.69 percent to end at 12,316.90 and the S&P 500 gained75.59 points or 1.84 percent to close at 4,176.82.
The rally on the day more than offset the pullback seen over the two previous sessions, with the major averages reaching their best closing levels in almost a month.
The strength that emerged on Wall Street may partly have reflected optimism that the Federal Reserve could alter its plans to aggressively raise interest rates in the light of some weak economic data.
Later today, the Labor Department is scheduled to release its more closely watched monthly employment report, which includes both public and private sector jobs.
Crude oil moved notably higher on Thursday after the Energy Information Administration released a report showing a much bigger than expected weekly decrease in U.S. crude oil inventories last week. Crude for July delivery jumped $1.61 or 1.4 percent to $116.87 a barrel.
Market Analysis
Higher Open Expected For Indonesia Stock Market
2022-06-03 01:01:21
