Mild Upside Seen For Indonesia Stock Market

RTTNews | 1052 days ago
Mild Upside Seen For Indonesia Stock Market

(RTTNews) - The Indonesia stock market has finished lower in two of three trading days since the end of the three-day winning streak in which it had surged almost 225 points or 3.3 percent. The Jakarta Composite Index now sits just beneath the 6,860-point plateau although it's expected to open higher again on Tuesday.

The global forecast for the Asian markets is mixed and flat, with support from the energy stocks likely offset by weakness from the technology companies. The European and U.S. markets were mixed to higher and the Asian bourses figure to follow that lead.

The JCI finished modestly lower on Monday as losses from the financials and cement stocks were mitigated by volatility from the resource and energy companies.

For the day, the index slumped 28.55 points or 0.41 percent to finish at 6,858.41.

Among the actives, Bank Danamon Indonesia tumbled 1.98 percent, while Bank CIMB Niaga shed 0.50 percent, Bank Negara Indonesia slumped 1.30 percent, Bank Central Asia lost 0.34 percent, Bank Mandiri dropped 0.96 percent, Bank Rakyat Indonesia shed 0.47 percent, Indosat Ooredoo jumped 1.55 percent, Indocement surrendered 1.85 percent, Semen Indonesia fell 0.38 percent, Indofood Suskes slid 0.35 percent, United Tractors strengthened 1.66 percent, Energi Mega Persada skyrocketed 15.08 percent, Bakrie Sumatera Plantations soared 5.47 percent, Astra Agro Lestari skidded 1.05 percent, Aneka Tambang declined 1.40 percent, Vale Indonesia tanked 2.19 percent, Timah retreated 1.75 percent, Bumi Resources surged 8.14 percent and Astra International was unchanged.

The lead from Wall Street is cautiously optimistic as the major averages opened flat on Monday and then bounced up and down throughout the session before finishing mixed.

The Dow climbed 90.75 points or 0.28 percent to finish at 31,990.04, while the NASDAQ lost 51.45 points or 0.43 percent to close at 11,782.67 and the S&P 500 rose 5.14 points or 0.13 percent to end at 3,966.77.

Trading activity was somewhat subdued as traders look ahead to the Federal Reserve's monetary policy decision on Wednesday.

CME Group's FedWatch tool is currently indicating a 77.5 percent chance of a 75-basis point interest rate hike and a 22.5 percent chance of a 100-basis point rate hike.

Crude oil futures settled sharply higher on Monday as concerns about outlook for energy demand eased, while the dollar's weakness ahead of the upcoming Fed statement also supported crude oil prices. West Texas Intermediate Crude oil futures for September ended higher by $2.00 or 2.1 percent at $96.70 a barrel.

read more
U.S. Dollar Weakens After Soft PPI Data

U.S. Dollar Weakens After Soft PPI Data

The U.S. dollar dropped against its major counterparts in the New York session on Thursday, as soft producer inflation data for May raised hopes of a rate cut by the Federal Reserve.
RTTNews | 14 minutes ago
Canadian Market Up Slightly In Cautious Trade

Canadian Market Up Slightly In Cautious Trade

After a flat start and a subsequent drop, the Canadian market moved into positive territory Thursday morning, led by gains in materials and communications sectors. The mood remains cautious amid uncertainty about U.S.-China trade deal and easing prospects of he European Union arriving at a pact with the U.S. before the July 8 deadline. Middle East tensions also weigh on sentiment.
RTTNews | 1h 58min ago
U.S. Producer Prices Inch Up 0.1% In May, Less Than Expected

U.S. Producer Prices Inch Up 0.1% In May, Less Than Expected

After reporting an unexpected decrease by U.S. producer prices in the previous month, the Labor Department released a report Thursday showing producer prices crept slightly higher in the month of May. The Labor Department said its producer price index for final demand inched up by 0.1 percent after slipping by a revised 0.2 percent in April.
RTTNews | 4h 46min ago
U.S. Weekly Jobless Claims Unexpectedly Unchanged At Eight-Month High

U.S. Weekly Jobless Claims Unexpectedly Unchanged At Eight-Month High

The Labor Department released a report on Thursday showing first-time claims for U.S. unemployment benefits came in flat in the week ended June 7th. The report said initial jobless claims in at 248,000, unchanged from the previous week's revised level. Economists had expected jobless claims to dip to 240,000 from the 247,000 originally reported for the previous week.
RTTNews | 4h 49min ago
Bay Street Likely To Open On Negative Note

Bay Street Likely To Open On Negative Note

Canadian shares are likely to open with a negative bias on Thursday as trade concerns, and Middle East tensions may weigh on sentiment. A lack of specifics in the framework agreed to by U.S. and Chinese officials on Tuesday has raised uncertainty about the two nations reaching an agreement anytime soon.
RTTNews | 5h 32min ago
U.S. Producer Prices Inch Up Less Than Expected In May

U.S. Producer Prices Inch Up Less Than Expected In May

After reporting an unexpected decrease by U.S. producer prices in the previous month, the Labor Department released a report Thursday showing producer prices crept slightly higher in the month of May.
RTTNews | 5h 59min ago
Boeing Shares Hit After 787-8 Dreamliner With 242 Onboard Crashes In India

Boeing Shares Hit After 787-8 Dreamliner With 242 Onboard Crashes In India

Boeing Co. shares are currently down around 8 percent in the pre-market activity on the NYSE after an Air India aircraft headed to London with 242 people onboard crashed immediately after take-off in the Indian city of Ahmedabad. The plane, a Boeing 787-8 Dreamliner headed to Gatwick Airport in the UK, crashed in a civilian area near the Sardar Vallabhbhai Patel International Airport.
RTTNews | 6h 18min ago