Indonesia Bourse May Test Resistance At 7,000 Points

(RTTNews) - The Indonesia stock market has finished higher in two straight sessions, improving more than 150 points or 2.2 percent in that span. The Jakarta Composite Index now rests just beneath the 6,980-point plateau although investors may lock in gains on Thursday.

The global forecast for the Asian markets is murky as uncertainty about U.S. trade policies continues to weigh. The European markets were down and the U.S. bourses were mostly higher and the Asian markets figure to split the difference.

The JCI finished sharply higher on Wednesday following gains from the financial shares, resource stocks and cement companies.

For the day, the index soared 147.08 points or 2.15 percent to finish at 6,979.88 after trading between 6,914.75 and 6,987.78.

Among the actives, Bank CIMB Niaga soared 5.26 percent, while Bank Mandiri accelerated 5.87 percent, Bank Danamon Indonesia strengthened 1.25 percent, Bank Negara Indonesia surged 6.59 percent, Bank Central Asia collected 3.06 percent, Bank Rakyat Indonesia rallied 6.51 percent, Indosat Ooredoo Hutchison jumped 3.57 percent, Indocement improved 4.00 percent, Semen Indonesia climbed 4.56 percent, Indofood Sukses Makmur slumped 1.25 percent, United Tractors advanced 3.29 percent, Astra International rose 0.63 percent, Energi Mega Persada skyrocketed 9.09 percent, Astra Agro Lestari expanded 1.71 percent, Aneka Tambang plummeted 4.85 percent, Vale Indonesia increased 1.40 percent, Timah gained 1.34 percent and Bumi Resources was up 6.36 percent.

The lead from Wall Street is mixed to higher as the major averages opened in the green but spent most of the day bouncing back and forth across the unchanged line before finally ending mixed.

The Dow slumped 89.37 points or 0.21 percent to finish at 42,051.06, while the NASDAQ rallied 136.72 points or 0.72 percent to close at 19,146.81 and the S&P 500 rose 6.03 points or 0.10 percent to end at 5,892.58.

The choppy trading on Wall Street came as traders took a step back to assess the recent rally by the markets, which has seen the S&P 500 rebound strongly from its early April lows to turn positive for 2025.

While trade deals between the U.S. and China and the U.K. have helped ease concerns about President Donald Trump's trade policies, uncertainty about the eventual outcome continues to hang over the markets.

Traders also were reluctant to make more significant moves ahead of the release of a slew of U.S. economic data on Thursday, including producer prices, retail sales and industrial production. A speech by Federal Reserve Chair Jerome Powell is also likely to attract attention.

Crude oil prices slipped again on Wednesday, after data showed that U.S. crude inventories unexpectedly jumped last week. West Texas Intermediate crude for June delivery shed 0.80 or 1.27 percent to 62.87 per barrel.

Closer to home, Indonesia will see April figures for imports, exports and trade balance later today. In March, imports were up 5.34 percent on year and exports rose 3.16 percent for a trade surplus of $4.33 billion.