Rally Expected To Stall For Indonesia Stock Market

RTTNews | 964日前
Rally Expected To Stall For Indonesia Stock Market

(RTTNews) - The Indonesia stock market has finished higher in three straight sessions, gathering almost 50 points or 0.8 percent along the way. The Jakarta Composite Index now rests just above the 6,860-point plateau although it's likely to run out of steam on Thursday.

The global forecast for the Asian markets suggests consolidation following recent gains and rising treasury yields. The European and U.S. markets were down and the Asian bourses figure to open in similar fashion.

The JCI finished modestly higher on Wednesday following gains from the cement companies and mixed performances from the financials and resource stocks.

For the day, the index gained 25.92 points or 0.38 percent to finish at 6,8.60.42.

Among the actives, Bank Danamon Indonesia skyrocketed 7.77 percent, while Bank CIMB Niaga shed 0.47 percent, Bank Negara Indonesia climbed 1.15 percent, Bank Central Asia fell 0.30 percent, Bank Mandiri dipped 0.26 percent, Bank Rakyat Indonesia collected 0.23 percent, Indocement jumped 1.89 percent, Semen Indonesia spiked 2.99 percent, Indofood Suskes advanced 0.81 percent, United Tractors lost 0.63 percent, Astra International rallied 2.76 percent, Energi Mega Persada surged 6.02 percent, Astra Agro Lestari soared 3.49 percent, Aneka Tambang strengthened 1.67 percent, Vale Indonesia accelerated 3.76 percent, Timah increased 0.39 percent, Bumi Resources sank 0.60 percent and Indosat Ooredoo Hutchison was unchanged.

The lead from Wall Street is soft as the major averages were unable to hold early gains on Wednesday, slipping into the red in afternoon trade and ending in negative territory.

The Dow shed 99.99 points or 0.33 percent to finish at 30,423.81, while the NASDAQ sank 91.89 points or 0.85 percent to end at 10,680.51 and the S&P 500 lost 24.82 points or 0.67 percent to close at 3,695.16.

Profit taking contributed to the pullback on Wall Street, as traders cashed in on the strong gains on Monday and Tuesday. The major averages ended Tuesday's trading well off their highs of the session, although the Dow still reached its best closing level in almost a month.

Lingering concerns about higher interest rates and the impact on the global economy also continued to weigh on the markets along with a jump in treasury yields. The yield on the benchmark 10-year note moved sharply higher following a modest pullback on Tuesday, reaching its highest levels in 14 years.

Stocks regained some ground following the release of the Federal Reserve's Beige Book, a compilation of anecdotal evidence on economic conditions in each of the twelve Fed districts. The Beige Book said economic activity in the U.S. has expanded modestly since September, although conditions varied across industries and districts.

Crude oil prices rose sharply Wednesday as data showed declines in U.S. crude and gasoline stockpiles last week. West Texas Intermediate Crude oil futures for November ended higher by $2.73 or 3.3 percent at $85.55 a barrel.

Closer to home, the central bank in Indonesia will wrap up its monetary policy meeting later today and then announce its decision on interest rates. The bank is expected to hike its benchmark lending rate from 4.25 percent to 4.75 percent, its deposit facility rate from 3.50 percent to 4.00 percent and its lending facility rate from 5.00 percent to 5.50 percent.

read more
European Stocks Close On Mixed Note

European Stocks Close On Mixed Note

European stocks turned in a mixed performance on Tuesday with investors mostly making cautious moves as they awaited the outcome of the ongoing Sino-U.S. trade talks in London. German stocks are drifting lower on Tuesday as investors await the outcome of high-level U.S. - China trade talks in London.
RTTNews | 23分前
TSX Up Marginally; Energy Stocks Rise

TSX Up Marginally; Energy Stocks Rise

After a flat start and a subsequent climb up north, the Canadian market retreated Tuesday morning, and at a little past noon, was up marginally, led by gains in energy, consumer and communications sectors. Investors are cautiously optimistic about some positive progress in U.S.-China trade relations.
RTTNews | 1時30分前
U.S. Stocks Mostly Subdued In Lackluster Trade

U.S. Stocks Mostly Subdued In Lackluster Trade

U.S. stocks are turning in a mixed performance in lackluster trade on Tuesday as traders await the outcome of the ongoing trade talks between China and the U.S. in London. Trade negotiations between the world's two largest economies commenced on Monday, and no big breakthrough seems to have been arrived as yet.
RTTNews | 2時6分前
Eurozone Investor Confidence Strongest In A Year: Sentix

Eurozone Investor Confidence Strongest In A Year: Sentix

Euro area investor morale rose to the highest level in a year in June, driven by the economic recovery in Germany, survey data from the behavioral research institute Sentix showed Tuesday. The investor sentiment index rose to +0.2 in June from -8.1 in May. This was the highest reading since June 2024 and remained well above economists' forecast of -6.0.
RTTNews | 5時0分前
Bay Street Likely To Open On Mixed Note

Bay Street Likely To Open On Mixed Note

Canadian shares are likely to open on a mixed note Tuesday morning with investors looking for directional clues as they await the outcome of the U.S.-China trade negotiations.
RTTNews | 5時53分前
FTSE 100 Advances; Persimmon, Marks & Spencer Among Top Gainers

FTSE 100 Advances; Persimmon, Marks & Spencer Among Top Gainers

Despite data showing an increase in the nation's unemployment rate, U.K. stocks are up in positive territory a little past noon on Tuesday on selective buying amid some optimism over the ongoing U.S.-China trade talks in London.
RTTNews | 6時27分前
CAC 40 Down Marginally In Cautious Trade

CAC 40 Down Marginally In Cautious Trade

French stocks are largely subdued on Tuesday as investors refrain from making significant moves while awaiting the outcome of the ongoing trade talks between U.S. and Chinese officials in London.
RTTNews | 7時12分前