Indonesia Bourse May End Losing Streak

(RTTNews) - The Indonesia stock market has finished lower in two straight sessions, slipping more than a dozen points or 0.2 percent in that span. The Jakarta Composite Index now sits just beneath the 7,340-point plateau although it may find traction on Friday.

The global forecast for the Asian markets is positive, with technology and energy stocks expected to lead the markets higher. The European and U.S. markets were up and the Asian bourses are expected to open in similar fashion.

The JCI finished slightly lower on Thursday following losses from the cement companies and a mixed performance from the financial sector.

For the day, the index dipped 9.38 points or 0.13 percent to finish at 7,339.63.

Among the actives, Bank Mandiri retreated 1.38 percent, while Bank Danamon Indonesia collected 1.38 percent, Bank Negara Indonesia declined 1.25 percent, Bank Central Asia shed 0.50 percent, Bank Rakyat Indonesia skidded 1.19 percent, Indocement slid 0.28 percent, Semen Indonesia tanked 2.01 percent, Indofood Suskes rallied 1.52 percent, United Tractors rose 0.22 percent, Astra International advanced 0.95 percent and Vale Indonesia surged 4.05 percent.

The lead from Wall Street is strong as the major averages opened higher and continued to climb as the day progressed, ending near session highs.

The Dow surged 456.87 points or 1.18 percent to finish at 39,069.11, while the NASDAQ soared 460.72 points or 2.96 percent to end at 16,041.62 and the S&P 500 rallied 105.23 points or 2.11 percent to close at 5,087.03.

The rally on Wall Street largely reflected a positive reaction to earnings news from Nvidia (NVDA), with the chipmaker spiking by 16.4 percent to a record closing high.

In U.S. economic news, the Labor Department reported an unexpected dip in first-time claims for U.S. unemployment benefits last week. Also, the National Association of Realtors noted a big rebound in existing home sales in January.

Crude oil prices climbed higher on Thursday as rising tensions in the Middle East raised the possibility of a near-term supply disruption. West Texas Intermediate crude oil futures for April added $0.70 or 0.9 percent at $78.61 a barrel.