Rally Expected To Stall For Indonesia Stock Market

RTTNews | 967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
Singapore Bourse May Extend Thursday's Gains

Singapore Bourse May Extend Thursday's Gains

The Singapore stock market on Thursday ended the two-day slide in which it had fallen more than 15 points or 0.4 percent. The Straits Times Index now sits just above the 3,920-point plateau and it's tipped to open to the upside again on Friday.
RTTNews | 37分前
Malaysia Stock Market May See Additional Support

Malaysia Stock Market May See Additional Support

The Malaysia stock market has ticked higher in consecutive trading days, gathering almost 10 points or 0.6 percent along the way. The Kuala Lumpur Composite Index now sits just above the 1,525-point plateau and it may add to its winnings again on Friday.
RTTNews | 1時7分前
Win Streak May Continue For South Korea Stock Market

Win Streak May Continue For South Korea Stock Market

The South Korea stock market has finished higher in seven straight sessions, collecting more than 225 points or 8.2 percent along the way. The KOSPI now rests just above the 2,920-point plateau and it's tipped to open in the green again on Friday.
RTTNews | 1時37分前
New Zealand Manufacturing PMI Data Due On Friday

New Zealand Manufacturing PMI Data Due On Friday

New Zealand will on Friday release May results for the manufacturing PMI from BusinessNZ, highlighting a light day for Asia-Pacific economic activity. In April, the PMI score was 53.9.
RTTNews | 2時32分前
Taiwan Shares May Bounce Higher Again On Friday

Taiwan Shares May Bounce Higher Again On Friday

The Taiwan stock market on Thursday ended the three-day winning streak in which it had rallied more than 810 points or 3.6 percent. The Taiwan Stock Exchange now sits just beneath the 22,290-point plateau and it may see renewed support on Friday.
RTTNews | 2時55分前
Rebound Anticipated For Japan Stock Market

Rebound Anticipated For Japan Stock Market

The Japan stock market on Thursday ended the four-day winning streak in which it had climbed more than 860 points or 2.5 percent. The Nikkei 225 now sits just beneath the 38,175-point plateau although it may bounce higher again on Friday.
RTTNews | 2時56分前
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 | 6時11分前
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 | 7時55分前