Indonesia Stock Market May Extend Winning Streak

RTTNews | 860 days ago
Indonesia Stock Market May Extend Winning Streak

(RTTNews) - The Indonesia stock market has moved higher in back-to-back sessions, gathering almost 15 points or 0.2 percent along the way. The Jakarta Composite Index now sits just beneath the 6,860-point plateau and it's likely to move higher again on Friday.

The global forecast for the Asian markets is positive on optimism over inflation, demand and interest rates. The European and U.S. markets were up and the Asian bourses are expected to open in similar fashion.

The JCI finished slightly higher on Thursday following gains from the financials, weakness from the cement companies and a mixed picture from the resources.

For the day, the index added 12.48 points or 0.18 percent to finish at 6,857.42.

Among the actives, Bank Danamon Indonesia climbed 1.07 percent, while Bank CIMB Niaga collected 0.40 percent, Bank Negara Indonesia dropped 0.84 percent, Bank Central Asia rose 0.29 percent, Bank Mandiri improved 1.24 percent, Bank Rakyat Indonesia advanced 1.27 percent, Indosat Ooredoo Hutchison sank 0.73 percent, Indocement retreated 1.33 percent, Semen Indonesia stumbled 1.38 percent, Indofood Suskes fell 0.40 percent, United Tractors rallied 2.72 percent, Energi Mega Persada plunged 2.34 percent, Aneka Tambang added 0.50 percent, Vale Indonesia slumped 1.44 percent, Timah climbed 1.27 percent, Bumi Resources gained 0.75 percent and Astra International and Astra Agro Lestari were unchanged.

The lead from Wall Street is upbeat as the major averages opened mixed but trended steadily upward throughout the session, with all finishing firmly in the green.

The Dow surged 341.75 points or 1.05 percent to finish at 33,003.57, while the NASDAQ advanced 83.50 points or 0.73 percent to end at 11,462.98 and the S&P 500 gained 29.96 points or 0.76 percent to close at 3,981.35.

The surge by the Dow reflected a spike by shares of Salesforce (CRM), with the cloud-based software company soaring 11.5 percent on better than expected Q4 results and upbeat guidance.

The markets also rebounded on comments from Atlanta Federal Reserve President Raphael Bostic, who said he strongly favors raising interest rates in only quarter-point increments.

Traders largely shrugged off a continue surge in treasury yields, which followed the release of a Labor Department report unexpectedly showing a modest decline in initial jobless claims last week.

Crude oil prices climbed higher on Thursday, extending gains from the previous session as optimism about higher demand from China outweighed concerns about inflation and interest rate hikes. West Texas Intermediate crude oil futures for April settled at $78.16 a barrel, gaining $0.47 or 0.6 percent.

read more
Tech Shares May Boost Taiwan Stock Market

Tech Shares May Boost Taiwan Stock Market

The Taiwan stock market on Wednesday wrote a finish to the three-day losing streak in which it had stumbled almost 370 points or 1.6 percent. The Taiwan Stock Exchange now sits just beneath the 22,530-point plateau and it's tipped to open in the green again on Thursday.
RTTNews | 23 minutes ago
Continued Strength Predicted For Singapore Stock Market

Continued Strength Predicted For Singapore Stock Market

The Singapore stock market has moved higher in three straight sessions, improving almost 45 points or 1.1 percent along the way. The Straits Times Index now rests just beneath the 4,060-point plateau and it's expected to open to the upside again on Thursday.
RTTNews | 53 minutes ago
Malaysia Stock Market May Snap Losing Streak

Malaysia Stock Market May Snap Losing Streak

The Malaysia stock market has moved lower in three straight sessions, slipping more than 20 points or 1.3 percent along the way. The Kuala Lumpur Composite Index now sits just beneath the 1,530-point plateau although it may stop the bleeding on Thursday.
RTTNews | 1h 23min ago
Japan Bourse May Break Through 40,000-Point Barrier

Japan Bourse May Break Through 40,000-Point Barrier

The Japanese stock market has moved higher in back-to-back sessions, collecting more than 230 points or 0.6 percent in that span. The Nikkei 225 now sits just above the 39,820-point plateau and it's tipped to open in the green again on Thursday.
RTTNews | 1h 38min ago
Win Streak May Continue For South Korea Shares

Win Streak May Continue For South Korea Shares

The South Korea stock market has finished higher in three straight sessions, collecting more than 80 points or 2.5 percent along the way. The KOSPI now sits just beneath the 3,135-point plateau and it may extend its gains again on Thursday.
RTTNews | 1h 53min ago
Korea Rate Decision On Tap For Thursday

Korea Rate Decision On Tap For Thursday

The Bank of Korea will wrap up its monetary policy meeting on Thursday and then announce its decision on interest rates, highlighting a lit day for Asia-Pacific economic activity. The BoK is expected to keep its benchmark lending rate steady at 2.50 percent.
RTTNews | 2h 53min ago