Indonesia Stock Market Has Positive Lead

(RTTNews) - The Indonesia stock market has moved higher in two straight sessions, rising almost 50 points or 0.8 percent along the way. The Jakarta Composite Index now rests just above the 6,665-point plateau and it's expected to open in the green again on Friday.

The global forecast for the Asian markets is upbeat on easing concerns over the outlook for interest rates. The European markets were mixed and the U.S. bourses were up and the Asian markets figure to split the difference.

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

For the day, the index improved 46.58 points or 0.70 percent to finish at 6,666.33.

Among the actives, Bank Danamon Indonesia strengthened 1.43 percent, while Bank Negara Indonesia gained 0.55 percent, Bank Central Asia collected 0.27 percent, Bank Rakyat Indonesia climbed 1.39 percent, Indosat Ooredoo Hutchison dropped 0.85 percent, Indocement retreated 1.29 percent, Semen Indonesia added 0.43 percent, Indofood Suskes dipped 0.34 percent, United Tractors rallied 2.08 percent, Astra International fell 0.37 percent, Energi Mega Persada jumped 1.83 percent, Astra Agro Lestari spiked 2.84 percent, Aneka Tambang tumbled 1.73 percent, Vale Indonesia declined 1.89 percent, Timah skidded 1.06 percent, Bumi Resources advanced 0.91 percent and Bank Mandiri and Bank CIMB Niaga were unchanged.

The lead from Wall Street is positive as the major averages shook off a flat lead on Thursday and climbed steadily throughout the session, ending solidly in the green.

The Dow climbed 168.59 points or 0.50 percent to finish at 33,833.61, while the NASDAQ jumped 133.63 points or 1.02 percent to close at 13,238.52 and the S&P 500 rose 26.41 points or 0.62 percent to end at 4,293.93.

The strength on Wall Street reflected easing concerns about the outlook for interest rates following the Labor Department report showing initial jobless claims increased by much more than expected last week.

While jobless claims can be volatile around holidays like Memorial Day, the data seems to have added to optimism that the Federal Reserve will pause its interest rate hikes at Wednesday's meeting.

Crude oil prices regained ground after a midday sell-off but still ended Thursday's trading session firmly in negative territory as concerns about the outlook for energy demand continued to weigh on the markets. West Texas Intermediate for July shed $1.24 or 1.7 percent at $71.29 a barrel.