The Indonesia stock market on Thursday snapped the modest two-day winning streak in which it had gained more than 20 points or 0.4 percent. The Jakarta Composite Index now sits just above the 5,970-point plateau although it’s expected to bounce higher again on Friday.
The global forecast for the Asian markets suggests mild upside, with optimism for economic recovery offset by the latest coronavirus surge in Japan and India. The European and U.S. markets finished higher and the Asian bourses are tipped to open in similar fashion.
The JCI finished slightly lower on Thursday following mixed performances from the financial shares, resource stocks and cement companies.
For the day, the index eased 5.67 points or 0.09 percent to finish at 5,970.24 after trading between 5,950.90 and 6,005.09.
Among the actives, Bank Danamon Indonesia retreated 1.54 percent, while Bank CIMB Niaga climbed 1.01 percent, Bank Negara Indonesia gained 0.44 percent, Bank Mandiri collected 0.41 percent, Bank Rakyat Indonesia improved 0.49 percent, Indosat shed 0.40 percent, Indocement added 0.60 percent, Semen Indonesia skidded 1.23 percent, Indofood Suskes advanced 0.77 percent, United Tractors declined 1.69 percent, Astra International surrendered 1.81 percent, Energi Mega Persada tanked 2.61 percent, Aneka Tambang fell 0.38 percent, Vale Indonesia dipped 0.20 percent, Timah perked 1.07 percent, Bumi Resources jumped 1.59 percent and Bank Central Asia was unchanged.
The lead from Wall Street is upbeat as stocks shrugged off early weakness on Thursday to finish in the green.
The Dow jumped 318.19 points or 0.93 percent to finish at 34,548.53, while the NASDAQ gained 50.42 points or 0.37 percent to end at 13,632.84 and the S&P 500 climbed 34.03 points or 0.82 percent to close at 4,201.62.
The strength on Wall Street followed a Labor Department report showing first-time claims for U.S. unemployment benefits fell much more than expected last week.
Later today, the Labor Department is scheduled to release its more closely watched monthly employment report for April.
Crude oil futures finished lower on Thursday, extending losses from previous session amid worries about outlook for energy demand. West Texas Intermediate Crude oil futures for June were down $0.92 or 1.4 percent at $64.71 a barrel.
Market Analysis
Rebound Anticipated For Indonesia Stock Market
2021-05-07 02:03:14
