Indonesia Bourse May Spin Its Wheels On Monday

RTTNews | 578 dni temu
Indonesia Bourse May Spin Its Wheels On Monday

(RTTNews) - The Indonesia stock market bounced higher again on Friday, one day after ending the two-day winning streak in which it had gathered more than 95 points or 1.3 percent. The Jakarta Composite Index now sits just beneath the 6,760-point plateau although it's likely to be stuck in neutral on Monday.

The global forecast for the Asian markets is soft on weak earnings and slightly higher inflation. The European markets were down and the U.S. bourses were mixed and the Asian markets figure to split the difference.

The JCI finished modestly higher on Friday following mixed performances from the financial shares and resource stocks.

For the day, the index added 44.27 points or 0.66 percent to finish at 6,758.79.

Among the actives, Bank CIMB Niaga climbed 1.19 percent, while Bank Danamon Indonesia collected 0.38 percent, Bank Negara Indonesia lost 0.61 percent, Bank Central Asia and Aneka Tambang both fell 0.29 percent, Bank Rakyat Indonesia rallied 1.63 percent, Indosat Ooredoo Hutchison spiked 2.07 percent, Indocement skidded 1.07 percent, Semen Indonesia slumped 1.20 percent, United Tractors tanked 2.48 percent, Energi Mega Persada soared 3.33 percent, Astra Agro Lestari rose 0.35 percent, Vale Indonesia plummeted 5.09 percent, Timah strengthened 1.45 percent, Bumi Resources jumped 1.77 percent and Astra International, Bank Mandiri and Indofood Suskes were unchanged.

The lead from Wall Street offers little clarity as the major averages opened mixed on Friday and finished the same way.

The Dow tumbled 366.71 points or 1.12 percent to finish at 32,417.59, while the NASDAQ added 47.41 points or 0.38 percent to close at 12,643.01 and the S&P 500 sank 19.86 points or 0.48 percent to end at 4,117.37.

For the week, the Dow dropped 2.1 percent, the S&P 500 slumped 2.5 percent and the NASDAQ stumbled 2.6 percent.

The rebound by the NASDAQ reflected a positive reaction to earnings news from Amazon (AMZN) and semiconductor giant Intel (INTC), which beat estimates - while disappointing earnings from Chevron (CVX) weighed heavily on the Dow.

Traders were also digesting a Commerce Department report showing that consumer prices rose by 0.4 percent in September, matching the increase in August. Economists had expected prices to rise by 0.3 percent.

Crude oil prices rose sharply Friday as tensions in the Middle East escalated with Israeli ground forces expanding operations in Gaza. West Texas Intermediate Crude oil futures for December rose $2.33 or 2.8 percent at $85.54 a barrel. WTI crude futures posted a weekly loss of 3.6 percent.

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