Indonesia Bourse Tipped To Open In The Green

(RTTNews) - The Indonesia stock market on Thursday ended the two-day slide in which it had dropped almost 80 points or 1 percent. The Jakarta Composite Index sits just above the 8,070-point plateau and it may extend its gains on Friday.

The global forecast for the Asian markets is mixed to higher, with gains from the technology stocks likely offset by weakness from the oil companies. The European markets were mixed and the U.S. bourses were slightly higher and the Asian markets figure to split the difference.

The JCI finished modestly higher on Thursday following mixed performances from the financial shares and resource stocks.

For the day, the index added 27.26 points or 0.34 percent to finish at 8,071.08 after trading between 8,059.05 and 8,109.44.

Among the actives, Bank CIMB Niaga collected 0.30 percent, while Bank Mandiri lost 0.46 percent, Bank Danamon Indonesia increased 0.42 percent, Bank Negara Indonesia slipped 0.25 percent, Bank Rakyat Indonesia tanked 2.62 percent, Indosat Ooredoo Hutchison sank 0.59 percent, Semen Indonesia plummeted 3.19 percent, Indofood Sukses Makmur skidded 1.06 percent, United Tractors rose 0.38 percent, Astra International gained 0.44 percent, Energi Mega Persada added 0.53 percent, Astra Agro Lestari shed 0.63 percent, Aneka Tambang plunged 3.12 percent, Vale Indonesia rallied 2.58 percent, Timah improved 0.79 percent, Bumi Resources strengthened 1.24 percent and Bank Central Asia and Indocement were unchanged.

The lead from Wall Street continues to be cautiously optimistic as the major averages recovered from a midday slump on Thursday to finish with mild gains at fresh record highs.

The Dow added 78.62 points or 0.17 percent to finish at 46,519.72, while the NASDAQ gained 88.89 points or 0.39 percent to end at 22,844.05 and the S&P 500 perked 4.15 points or 0.06 percent to close at 6,715.35.

The continued advance by the major averages reflected optimism about the artificial intelligence trade, which contributed to strength among tech stocks, especially Nvidia (NVDA) and Advanced Micro Devices (AMD).

Meanwhile, traders continued to shrug off concerns about the economic impact of the ongoing U.S. government shutdown, which entered its second day with no signs of an imminent resolution.

Due to the shutdown, the releases of reports on weekly jobless claims and factory orders that were scheduled for this week have been indefinitely postponed.

Crude oil prices tumbled on Thursday on anxiety about the long-term impact of the ongoing U.S. government shutdown, which enters the second day today. West Texas Intermediate crude for November delivery was down $1.23 or 1.99 percent at $60.55 per barrel.