Higher Open Anticipated For Indonesia Stock Market

RTTNews | 577 dni temu
Higher Open Anticipated For Indonesia Stock Market

(RTTNews) - The Indonesia stock market headed south again on Friday, one day after halting the two-day slide in which it had slumped almost 75 points or 1.2 percent. The Jakarta Composite Index now sits just beneath the 6,810-point plateau although it's likely to rebound again on Monday.

The global forecast for the Asian markets is mixed to higher on renewed optimism over the outlook for interest rates. The European markets were down and the U.S. bourses were up and the Asian markets figure to follow the latter lead.

The JCI finished modestly lower on Friday following losses from the financials and cement companies, while the resource stocks were mixed.

For the day, the index shed 28.97 points or 0.42 percent to finish at 6,809.26.

Among the actives, Bank CIMB Niaga shed 0.59 percent, while Bank Mandiri retreated 1.70 percent, Bank Danamon Indonesia fell 0.37 percent, Bank Central Asia tumbled 1.94 percent, Bank Rakyat Indonesia plunged 2.40 percent, Indosat Ooredoo Hutchison tanked 2.13 percent, Indocement surrendered 2.08 percent, Semen Indonesia declined 1.57 percent, United Tractors advanced 0.98 percent, Astra International added 0.43 percent, Astra Agro Lestari slid 0.36 percent, Aneka Tambang stumbled 1.81 percent, Vale Indonesia slumped 1.28 percent, Timah sank 0.75 percent, Bumi Resources gained 0.94 percent and Indofood Suskes, Energi Mega Persada and Bank Negara Indonesia were unchanged.

The lead from Wall Street is broadly positive as the major averages opened higher on Friday and continued to advance as the day progressed, ending near session highs.

The Dow surged 391.20 points or 1.15 percent to finish at 34,283.10, while the NASDAQ rallied 276.71 points or 2.05 percent to end at 13,798.11 and the S&P 500 jumped 67.89 points or 1.56 percent to close at 4,415.24. For the week, the NASDAQ shot up 2.4 percent, the S&P 500 rose 1.3 percent and the Dow climbed 0.7 percent.

The rally on Wall Street came as traders shrugged off concerns about the outlook for interest rates sparked by remarks from Federal Reserve Chair Jerome Powell on Thursday. Powell said the Fed is unsure rates are at a restrictive level to bring inflation down to 2 percent and warned the central bank would not hesitate to resume raising rates.

Despite Powell's comments, CME Group's FedWatch Tool currently still suggests the Fed is likely to leave interest rates over the next several months before cutting rates in mid-2024.

Stocks initially benefited from a pullback by treasury yields, which surged in afternoon trading on Thursday following a disappointing 30-year bond auction as well as Powell's comments. But the major averages continued to advance over the even though yields rebounded.

Crude oil prices rose sharply Friday, but the most active oil futures contract still suffered a third weekly loss as the disruption threats continued to fade. West Texas Intermediate Crude oil futures for December ended up $1.43 or 1.9 percent at $77.17 a barrel. WTI crude futures shed more than 4 percent in the week.

read more
European Economic News Preview: UK GDP, Foreign Trade Data Due

European Economic News Preview: UK GDP, Foreign Trade Data Due

Monthly GDP, industrial production and foreign trade from the UK are due on Thursday, headlining a light day for the European economic news. At 2.00 am ET, the Office for National Statistics releases UK GDP, industrial production and foreign trade figures. The economy is forecast to shrink 0.1 percent on a monthly basis in April, reversing a 0.2 percent rise in March.
RTTNews | 1g 38 minut temu
Sensex, Nifty Subdued In Cautious Trade

Sensex, Nifty Subdued In Cautious Trade

Indian shares were subdued on Thursday as investors assessed U.S. President Donald Trump's declaration that a trade deal with China was "done" and that he would set unilateral tariff rates for trading partners within two weeks.
RTTNews | 1g 55 minut temu
Australian Market Doubles Early Gains In Mid-market

Australian Market Doubles Early Gains In Mid-market

The Australian market is doubling its early gains in mid-market moves on Thursday, extending the gains in the previous two sessions, despite the broadly negative cues from Wall Street overnight. The benchmark S&P/ASX 200 is moving above the 8,600 level, with gains in gold miners and energy stocks partially offset by weakness in iron ore miners.
RTTNews | 2g 18 minut temu
Asian Markets Trade Mixed

Asian Markets Trade Mixed

Asian stock markets are trading mixed on Thursday, following the broadly negative cues from Wall Street overnight, after US President Donald Trump said he and Chinese President Xi Jinping "are going to work closely together to open up China to American Trade." However, signs of escalating geopolitical tensions in the Middle East are weighing on market sentiment.
RTTNews | 3g 9 minut temu