Soft Start Seen For Indonesia Stock Market

RTTNews | Před 1093 dny
Soft Start Seen For Indonesia Stock Market

(RTTNews) - The Indonesia stock market on Tuesday snapped the three-day slide in which it had retreated almost 200 points or 2.9 percent. The Jakarta Composite Index now rests just beneath the 7,050-point plateau although it may head south again on Wednesday.

The global forecast is cautious ahead of the U.S. interest rate decision later today. The European markets were down and the U.S. bourses were mixed and little changed, and the oversold Asian markets figure to see little movement ahead of the rate decision.

The JCI finished modestly higher on Tuesday following gains from the financial shares and cement stocks, while the resource companies were mixed.

For the day, the index advanced 54.44 points or 0.78 percent to finish at the daily high of 7,049.88 after moving as low as 6,932.71.

Among the actives, Bank Danamon Indonesia fell 0.41 percent, while Bank CIMB Niaga shed 0.49 percent, Bank Negara Indonesia perked 0.30 percent, Bank Central Asia collected 0.68 percent, Bank Mandiri climbed 1.23 percent, Bank Rakyat Indonesia added 0.46 percent, Indosat soared 3.85 percent, Indocement advanced 0.82 percent, Semen Indonesia surged 4.20 percent, Indofood Suskes improved 0.73 percent, United Tractors rallied 2.85 percent, Astra International sank 0.71 percent, Energi Mega Persada skyrocketed 11.11 percent, Bakrie Sumatera Plantations spiked 2.54 percent, Astra Agro Lestari lost 0.46 percent, Aneka Tambang plunged 3.54 percent, Timah strengthened 1.09 percent and Bumi Resources and Vale Indonesia were unchanged.

The lead from Wall Street is murky after the major averages shook off a higher open on Friday. The Dow and S&P quickly turned lower and stayed that way, while the NASDAQ bounced back and forth across the line to finish higher.

The Dow dropped 151.91 points or 0.50 percent to finish at 30,364.83, while the NASDAQ added 19.12 points or 0.18 percent to close at 10,828.35 and the S&P 500 dipped 14.15 points or 0.38 percent to end at 3,735.48.

The choppy trade on Wall Street comes ahead of the Federal Reserve's monetary policy announcement later today.

The Fed is expected to hike interest rates by 50 basis points, although forecasts are suggesting a 75-bp increase.

In economic news, the Labor Department said producer prices increased on a monthly basis but eased off a 21-year high annually.

Crude oil futures drifted lower Tuesday on reports of a likely proposal to impose a federal surtax on oil companies to curb rising inflation. West Texas Intermediate Crude oil futures for July ended lower by $2.00 or 1.7 percent at $118.93 a barrel.

Closer to home, Indonesia will provide May numbers for imports, exports and trade balance later today. Imports are expected to surged 34.32 percent on year, accelerating from 21.97 percent in April. Exports are called higher by an annual 39.35 percent, slowing from 47.76 percent in the previous month. The trade surplus is pegged at $3.5 billion, down from 7.56 billion a month earlier.

read more
U.S. Dollar Weakens After Soft PPI Data

U.S. Dollar Weakens After Soft PPI Data

The U.S. dollar dropped against its major counterparts in the New York session on Thursday, as soft producer inflation data for May raised hopes of a rate cut by the Federal Reserve.
RTTNews | Před 3 h 24 min
Canadian Market Up Slightly In Cautious Trade

Canadian Market Up Slightly In Cautious Trade

After a flat start and a subsequent drop, the Canadian market moved into positive territory Thursday morning, led by gains in materials and communications sectors. The mood remains cautious amid uncertainty about U.S.-China trade deal and easing prospects of he European Union arriving at a pact with the U.S. before the July 8 deadline. Middle East tensions also weigh on sentiment.
RTTNews | Před 5 h 8 min
U.S. Producer Prices Inch Up 0.1% In May, Less Than Expected

U.S. Producer Prices Inch Up 0.1% In May, Less Than Expected

After reporting an unexpected decrease by U.S. producer prices in the previous month, the Labor Department released a report Thursday showing producer prices crept slightly higher in the month of May. The Labor Department said its producer price index for final demand inched up by 0.1 percent after slipping by a revised 0.2 percent in April.
RTTNews | Před 7 h 55 min
U.S. Weekly Jobless Claims Unexpectedly Unchanged At Eight-Month High

U.S. Weekly Jobless Claims Unexpectedly Unchanged At Eight-Month High

The Labor Department released a report on Thursday showing first-time claims for U.S. unemployment benefits came in flat in the week ended June 7th. The report said initial jobless claims in at 248,000, unchanged from the previous week's revised level. Economists had expected jobless claims to dip to 240,000 from the 247,000 originally reported for the previous week.
RTTNews | Před 7 h 58 min
Bay Street Likely To Open On Negative Note

Bay Street Likely To Open On Negative Note

Canadian shares are likely to open with a negative bias on Thursday as trade concerns, and Middle East tensions may weigh on sentiment. A lack of specifics in the framework agreed to by U.S. and Chinese officials on Tuesday has raised uncertainty about the two nations reaching an agreement anytime soon.
RTTNews | Před 8 h 42 min
U.S. Producer Prices Inch Up Less Than Expected In May

U.S. Producer Prices Inch Up Less Than Expected In May

After reporting an unexpected decrease by U.S. producer prices in the previous month, the Labor Department released a report Thursday showing producer prices crept slightly higher in the month of May.
RTTNews | Před 9 h 8 min
Boeing Shares Hit After 787-8 Dreamliner With 242 Onboard Crashes In India

Boeing Shares Hit After 787-8 Dreamliner With 242 Onboard Crashes In India

Boeing Co. shares are currently down around 8 percent in the pre-market activity on the NYSE after an Air India aircraft headed to London with 242 people onboard crashed immediately after take-off in the Indian city of Ahmedabad. The plane, a Boeing 787-8 Dreamliner headed to Gatwick Airport in the UK, crashed in a civilian area near the Sardar Vallabhbhai Patel International Airport.
RTTNews | Před 9 h 27 min