Indonesian stock market could extend Thursday’s losses

(RTTNews) – The Indonesian stock market has fallen in two of three trading days since the end of the six-day winning streak in which it had climbed more than 120 points or 1.9%. Jakarta’s Composite Index now sits just below the 6,600 point plateau and it could take additional damage on Friday.

Global forecasts for Asian markets are mixed to lower, with profit taking – especially among tech stocks – fueling a downward correction after strong gains a day earlier. European markets were up and US stock markets were down and Asian markets are expected to follow this latest trend.

JCI ended slightly lower on Thursday following losses in financials and cement, while resource companies were mixed.

For the day, the index lost 31.46 points or 0.47% to end at 6,594.80 after trading between 6,579.36 and 6,661.94.

Among assets, Bank Danamon Indonesia fell 0.83%, while Bank CIMB Niaga slipped 1.02%, Bank Negara Indonesia 1.82%, Bank Central Asia slipped 0.34%, Bank Mandiri fell 0.34%, Bank Rakyat Indonesia fell 1.43%, Indosat fell 1.61%, Indocement fell 2.90 percent, Semen Indonesia fell 1.62 percent, Indofood Suskes fell 1.15 percent, United Tractors gained 0.58 percent, Astra International fell 3.33 percent, Energi Mega Persada fell 1.82 percent, Bakrie Sumatera Plantations rose 0 , 95 percent, Astra Agro Lestari added 0.52 percent. , Aneka Tambang improved 0.44%, Vale Indonesia lost 0.86%, Timah sank 1.00% and Bumi Resources lost 1.45%.

Wall Street’s lead is negative as major averages opened slightly higher on Thursday, but quickly declined, falling to session lows at the close.

The Dow Jones lost 29.79 points or 0.08% to close at 35,897.64, while the NASDAQ fell 385.15 points or 2.47% to close at 15,180.43 and the S&P 500 fell. lost 41.18 points or 0.87% to finish at 4,668.67.

Wall Street’s pullback came as traders continued to digest the Federal Reserve’s monetary policy announcement on Wednesday, which was to step up the pace of its asset purchases cut and forecast up to three rate hikes. interest next year.

While some stocks benefited from reduced uncertainty about the outlook for monetary policy, high-growth tech stocks fell sharply amid concerns about the impact of rising interest rates.

In economic news, the Labor Department noted a modest rebound in first jobless claims last week, while the Fed also said U.S. industrial production grew less than expected in November. Additionally, the Commerce Department said housing starts and building permits both rose much more than expected last month.

Crude oil futures stabilized higher on Thursday, thanks to data showing increased demand for energy in the United States and a larger-than-expected decline in U.S. crude inventories last week. West Texas Intermediate crude oil futures for January ended up $ 1.51 or 2.1% at $ 72.38 a barrel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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