Indonesia Bourse May Extend Wednesday's Gains

(RTTNews) - The Indonesia stock market on Wednesday halted the four-day losing streak in which it had plummeted almost 450 points or 6.9 percent. The Jakarta Composite Index now sits just above the 6,310-point plateau and it figures to see additional support on Thursday.

The global forecast for the Asian markets is upbeat on an improved outlook for interest rates. The European markets were mixed and the U.S. bourses moved higher and the Asian markets figure to split the difference.

The JCI finished sharply higher on Wednesday following gains from the financial shares, cement companies, food stocks and resource plays.

For the day, the index jumped 88.27 points or 1.42 percent to finish at 6,311.66 after trading between 6,147.43 and 6,332.73.

Among the actives, Bank Mandiri spiked 3.31 percent, while Bank Danamon Indonesia improved 1.26 percent, Bank Negara Indonesia shed 0.48 percent, Bank Central Asia rose 0.30 percent, Bank Rakyat Indonesia collected 0.82 percent, Bank Maybank Indonesia soared 4.76 percent, Indosat Ooredoo Hutchison stumbled 2.97 percent, Indocement added 0.67 percent, Semen Indonesia advanced 0.90 percent, Indofood Sukses Makmur jumped 1.77 percent, United Tractors lost 0.56 percent, Astra International plunged 3.85 percent, Energi Mega Persada gained 0.62 percent, Aneka Tambang strengthened 1.53 percent, Jasa Marga increased 0.79 percent, Vale Indonesia slumped 1.23 percent, Timah skidded 1.03 percent, Bumi Resources surged 3.49 percent and Bank CIMB Niaga and Astra Agro Lestari were unchanged.

The lead from Wall Street is positive as the major averages opened modestly higher on Wednesday but accelerated into the close, ending near session highs.

The Dow jumped 383.32 points or 0.92 percent to finish at 41,964.63, while the NASDAQ surged 246.67 points or 1.41 percent to close at 17,750.79 and the S&P 500 rallied 60.63 points or 1.08 percent to end at 5,675.29.

Stocks rallied early in the session and saw further upside following the Federal Reserve's monetary policy announcement. The Fed announced its widely expected decision to again leave interest rates unchanged but signaled that it is still likely to lower rates later this year.

Meanwhile, Fed officials lowered their projections for GDP growth in 2025 to 1.7 percent from 2.1 percent and raised their forecasts for consumer price growth this year to 2.7 percent from 2.5 percent.

Oil futures closed higher on Wednesday amid continued uncertainty about growth due to the impact of U.S. tariffs on some of its major trading partners. West Texas Intermediate Crude oil futures for April closed higher by $0.26 or 0.39 percent at $67.16 a barrel.