Little Movement Predicted For Indonesia Stock Market

RTTNews | 901 days ago
Little Movement Predicted For Indonesia Stock Market

(RTTNews) - The Indonesia stock market on Tuesday ended the two-day winning streak in which it had gathered almost 110 points or 1.8 percent. The Jakarta Composite Index now rests just above the 6,860-point plateau and it's expected to remain stuck in neutral on Wednesday.

The global forecast for the Asian markets is murky, with profit taking likely after recent gains - especially among the oil and technology companies. The European and U.S. markets were mixed and little changed and the Asian bourses are tipped to follow suit.

The JCI finished slightly lower on Tuesday following losses from the financial shares and mixed performances from the resource and cement companies.

For the day, the index dipped 14.08 points or 0.20 percent to finish at 6,860.85.

Among the actives, Bank Danamon Indonesia skidded 1.15 percent, while Bank Negara Indonesia collected 0.28 percent, Bank Central Asia dropped 0.90 percent, Bank Mandiri sank 0.75 percent, Bank Rakyat Indonesia lost 0.65 percent, Indosat Ooredoo Hutchison retreated 1.22 percent, Indocement dipped 0.26 percent, Semen Indonesia improved 0.71 percent, Indofood Suskes advanced 0.73 percent, United Tractors tumbled 2.43 percent, Astra International added 0.42 percent, Energi Mega Persada climbed 0.69 percent, Vale Indonesia declined 1.99 percent, Timah gained 0.39 percent and Bumi Resources, Aneka Tambang, Bank CIMB Niaga and Astra Agro Lestari were unchanged.

The lead from Wall Street offers little clarity as the major averages opened lower on Tuesday, rebounded somewhat and ended the day mixed and little changed.

The Dow gained 104.40 points or 0.31 percent to finish at 33,733.96, while the NASDAQ sank 30.14 points or 0.27 percent to end at 11,334.27 and the S&P 500 eased 2.86 points or 0.07 percent to close at 4,016.95.

The choppy trading on Wall Street came as traders expressed some uncertainty about the near-term outlook for the markets following recent volatility.

Uncertainty about the outlook for interest rates and the economy may also have kept some traders on the sidelines ahead of the release of some key economic data in the coming days.

A negative reaction to some of the latest earnings news contributed to an early pullback, with 3M (MMM) posting a steep loss after reporting weaker than expected fourth quarter earnings and providing disappointing guidance.

Crude oil prices fell sharply Tuesday on concerns about the outlook for demand due to a potential recession in Europe and the U.S. West Texas Intermediate crude futures for March ended lower by $1.49 or 1.8 percent at $80.13 a barrel.

read more
Australian Market Trims Early Losses In Mid-market

Australian Market Trims Early Losses In Mid-market

The Australian stock market is trimming its early losses in mid-market trading on Monday, extending the slight losses in the previous session, following the broadly negative cues from Wall Street on Friday. The benchmark S&P/ASX 200 index is staying below the 8,600.00 level, with weakness in technology and financial stocks partially offset by gains in gold miners and energy stocks.
RTTNews | 1h 53min ago
Asian Markets Trade Mostly Higher

Asian Markets Trade Mostly Higher

Asian stock markets are trading mostly higher on Monday, despite the broadly negative cues from Wall Street on Friday, amid hopes of an end to the uncertainty about U.S. reciprocal tariffs on its trade partners by August 1, though US President Donald Trump is escalating the trade battle. He warned of a blanket tariff of 15-20 percent on most trading partners that have not received letters yet.
RTTNews | 2h 6min ago
Thai Stock Market May Hand Back Friday's Gains

Thai Stock Market May Hand Back Friday's Gains

The Thai stock market on Friday snapped the two-day slide in which it had stumbled more than a dozen points or 1 percent. The Stock Exchange of Thailand now sits just above the 1,120-point plateau although it may head south again on Monday.
RTTNews | 3h 11min ago
Japanese Market Modestly Lower

Japanese Market Modestly Lower

The Japanese stock market is trading modestly lower on Monday, extending the losses in the previous two sessions, following the broadly negative cues from Wall Street on Friday, with the Nikkei 225 falling well below the 39,500 level, with weakness across most sectors led by financial and technology stocks.
RTTNews | 3h 21min ago
Indonesia Stock Market Due For Consolidation

Indonesia Stock Market Due For Consolidation

The Indonesia stock market has moved higher in five straight sessions, gathering almost 180 points or 2.6 percent along the way. The Jakarta Composite Index now sits just beneath the 7,050-point plateau although it's expected to open under pressure on Monday.
RTTNews | 3h 41min ago
Hong Kong Shares May Open Under Pressure

Hong Kong Shares May Open Under Pressure

The Hong Kong stock market has moved higher in two straight trading days, collecting almost 250 points or 1 percent along the way. The Hang Seng Index now sits just beneath the 24,140-point plateau although it may spin its wheels on Monday.
RTTNews | 3h 56min ago