The Indonesia stock market has moved lower in two straight sessions, sinking just seven points or 0.1 percent in that span. The Jakarta Composite Index now rests just beneath the 6,040-point plateau and the losses may accelerate on Friday.
The global forecast for the Asian markets suggests consolidation on concerns over the spread of the coronavirus variant. The European and U.S. markets were down and the Asian markets are tipped to open in similar fashion.
The JCI finished barely lower on Thursday following mixed performances from the financial shares, cement stocks and resource companies.
For the day, the index eased 4.14 points or 0.07 percent to finish at 6,039.90 after trading between 6,028.61 and 6,080.22.
Among the actives, Bank Danamon Indonesia surged 5.12 percent, while Bank CIMB Niaga soared 4.47 percent, Bank Negara Indonesia collected 0.63 percent, Bank Central Asia dropped 0.82 percent, Bank Mandiri rallied 2.61 percent, Bank Rakyat Indonesia jumped 1.31 percent, Indosat skidded 1.22 percent, Indocement added 0.48 percent, Semen Indonesia declined 1.12 percent, Indofood Suskes fell 0.39 percent, United Tractors retreated 1.60 percent, Astra International lost 0.41 percent, Astra Agro Lestari tumbled 1.94 percent, Aneka Tambang accelerated 3.66 percent, Vale Indonesia gained 0.61 percent, Timah spiked 4.89 percent and Bumi Resources and Energi Mega Persada were unchanged.
The lead from Wall Street is negative as stocks opened sharply lower on Thursday, made back some ground as the day progressed but still ended firmly in the red.
The Dow plunged 259.86 points or 0.75 percent to finish at 34,421.93, while the NASDAQ dropped 105.28 points or 0.72 percent to end at 14,559.79 and the S&P 500 sank 37.31 points or 0.86 percent to close at 4,320.82.
Concerns about the outlook for the global economy contributed to the early sell-off on Wall Street, while news that Japan has declared a new state of emergency for Tokyo ahead of the Olympic Games added to worries about the impact of new coronavirus variants.
In U.S. economic news, the Labor Department released a report showing initial jobless claims unexpectedly inched higher last week.
Crude oil futures settled higher Thursday after data showed a bigger than expected decline in crude inventories in the U.S. last week. West Texas Intermediate Crude oil futures for August ended up by $0.74 or 1 percent at $72.94 a barrel.
Market Analysis
Lower Open Expected For Indonesia Stock Market
2021-07-09 02:00:19
