Higher Open Anticipated For Indonesia Stock Market

RTTNews | 576 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
Euro Rises Amid Risk-on Mood

Euro Rises Amid Risk-on Mood

The euro strengthened against other major currencies in the European session on Wednesday amid increased risk-on mood, as investors monitored the latest updates from Sino-U.S. talks and awaited crucial U.S. inflation data for direction. After two days of discussions in London, U.S. and Chinese officials have agreed on a limited framework to put their trade truce back on track.
RTTNews | 1g 13 minut temu
Euro Rises Against Majors

Euro Rises Against Majors

The euro strengthened against other major currencies in the European session on Wednesday.
RTTNews | 1g 22 minut temu
Sensex, Nifty End Modestly Higher; IT Stocks Lead Gains

Sensex, Nifty End Modestly Higher; IT Stocks Lead Gains

Indian shares eked out modest gains on Wednesday as markets assessed the outcome of high-level U.S.-China talks and awaited key U.S. inflation readings for additional clues on the Federal Reserve's rate trajectory.
RTTNews | 1g 23 minut temu
Tesla Shares Gain As Musk Sets Robotaxi Service Launch Tentatively On June 22

Tesla Shares Gain As Musk Sets Robotaxi Service Launch Tentatively On June 22

Tesla Inc. shares were gaining around 2.4 percent in the pre-market activity on the Nasdaq following a 6 percent jump on Tuesday's regular trading, after the founder and CEO Elon Musk confirmed that the much awaited robotaxi service is tentatively set to launch in Austin, Texas, on June 22. In a post on his social media platform X, Musk said, "Tentatively, June 22. We are being super paranoid...
RTTNews | 1g 26 minut temu
DAX Up Marginally In Cautious Trade As Traders Await U.S. Inflation Data

DAX Up Marginally In Cautious Trade As Traders Await U.S. Inflation Data

German stocks advanced Wednesday morning, reacting positively to the news about top U.S. and Chinese officials reaching a framework to implement the Geneva consensus. If approved, the Sino-U.S. deal will remove some restrictions on China's rare earth exports and unwind a few recent U.S. export bans.
RTTNews | 1g 35 minut temu
Asian Shares Climb On Trade Talk Optimism

Asian Shares Climb On Trade Talk Optimism

Asian stocks advanced on Wednesday after top U.S. and Chinese officials said they have reached a framework to implement the Geneva consensus, following two days of discussions in London.
RTTNews | 3g 14 minut temu
Commodity Currencies Slide Amid Crude Oil Price Drop

Commodity Currencies Slide Amid Crude Oil Price Drop

The commodity currencies such as the Australia, the New Zealand and the Canadian dollars weakened against their major currencies in the Asian session on Wednesday amid crude oil price drop, as markets awaited the outcome of US-China trade talks, which have yet to be approved by President Donald Trump, with China's poor oil demand and OPEC+ output increases weighing on the market.
RTTNews | 3g 41 minut temu