logo
Plus   Neg
Share
Email

Indonesia Bourse Tipped To End Losing Streak

The Indonesia stock market has finished lower in two straight sessions, sliding more than 15 points or 0.2 percent along the way. The Jakarta Composite Index now rests just beneath the 6,025-point plateau although it's likely to find traction on Friday.

The global forecast for the Asian markets is upbeat on optimism for a trade deal between the United States and China. The European and U.S. markets were up and the Asian bourses are expected to open in similar fashion.

The JCI finished slightly lower on Thursday as losses from the cement stocks were mitigated by mixed performances from the financial shares and the resource companies.

For the day, the index dipped 5.52 points or 0.09 percent to finish at 6,023.64 after trading between 6,018.45 and 6,044.11.

Among the actives, Bank Danamon Indonesia shed 0.22 percent, while Bank Mandiri jumped 1.56 percent, Bank Central Asia collected 0.66 percent, Bank Rakyat Indonesia tumbled 1.77 percent, Indosat skidded 1.48 percent, Indocement eased 0.14 percent, Semen Indonesia spiked 1.76 percent, Indofood Suskes plunged 1.92 percent, Bumi Resources sank 2.41 percent, Aneka Tambang added 0.51 percent, Vale Indonesia surged 5.57 percent, Timah advanced 0.57 percent and Bank Negara Indonesia was unchanged.

The lead from Wall Street is positive as traders intensely focused on the latest developments surrounding the highly anticipated U.S.-China trade talks, sending markets significantly higher.

The Dow added 150.66 points or 0.57 percent to 26,496.67, while the NASDAQ gained 47.04 points or 0.60 percent to 7,950.78 and the S&P 500 rose 18.73 points or 0.64 percent to 2,938.13.

Buying interest emerged on Wall Street after President Donald Trump revealed he plans to meet with Chinese Vice Premier Liu He as part of high-level U.S.-China trade talks. Traders will remain focused on the highly anticipated negotiations and any signs of progress or lack thereof.

In economic news, the Labor Department said U.S. consumer prices were essentially flat in September and that there was a modest decrease in first-time claims for U.S. unemployment benefits last week.

Crude oil prices moved higher Thursday as OPEC said that it has all options in place to balance oil markets and that it would make a decision in December about supply. West Texas Intermediate Crude oil futures for November ended up $0.96 or 1.8 percent at $53.55 a barrel, the highest settlement since October 1.

For comments and feedback contact: editorial@rttnews.com

Follow RTT
>