The Indonesia stock market has finished higher in two straight sessions, collecting almost 110 points or 1.8 percent along the way. The Jakarta Composite Index now sits just beneath the 6,110-point plateau and it’s expected to open higher again on Friday.
The global forecast for the Asian markets is cautiously optimistic following encouraging inflation data from the United States. The European markets were mixed and the U.S. bourses were up and the Asian markets figure to follow the latter lead.
The JCI finished modestly higher on Thursday following gains from the financial shares and resource stocks.
For the day, the index advanced 60.06 points or 0.99 percent to finish at 6,107.54 after trading between 6,064.93 and 6,111.45.
Among the actives, Bank CIMB Niaga jumped 1.59 percent, while Bank Negara Indonesia advanced 0.89 percent, Bank Central Asia climbed 1.38 percent, Bank Mandiri collected 0.81 percent, Bank Rakyat Indonesia jumped 1.90 percent, Indosat climbed 1.47 percent, Indocement fell 0.21 percent, Semen Indonesia shed 0.72 percent, Indofood Suskes lost 0.40 percent, United Tractors tanked 3.32 percent, Astra International improved 1.41 percent, Astra Agro Lestari rose 0.28 percent, Aneka Tambang declined 1.63 percent, Vale Indonesia skidded 1.46 percent, Timah tumbled 2.47 percent, Bumi Resources retreated 1.64 percent and Bank Danamon Indonesia was unchanged.
The lead from Wall Street is positive as stocks opened higher on Thursday, tumbled shortly thereafter but rebounded to end in the green.
The Dow added 19.10 points or 0.06 percent to finish at 34,466.24, while the NASDAQ jumped 108.58 points or 0.78 percent to end at 14,020.33 and the SYP 500 rose 19.63 points or 0.47 percent to close at 4,239.18.
The higher close on Wall Street followed the release of a highly anticipated Labor Department report showing a bigger than expected increase in consumer prices in May.
Also, the Labor Department reported another modest decrease in first-time claims for unemployment benefits last week.
Crude oil futures moved higher on Thursday amid optimism energy demand will pick up gradually following an Energy Information Administration (EIA) report that showed a big drop in U.S. crude stockpiles last week. West Texas Intermediate Crude oil futures for July ended up by $0.33 or 0.5 percent at $70.29 a barrel.
Market Analysis
Win Streak May Continue For Indonesia Stock Market
2021-06-11 02:00:36
