(RTTNews) – The Indonesia stock market on Thursday snapped the two-day winning streak in which it had advanced more than 85 points or 1.1 percent. The Jakarta Composite Index sits just above the 8,040-point plateau and it may spin its wheels again on Friday.
The global forecast for the Asian markets is soft ahead of the release of key inflation data from the United States. The European and U.S. markets were down and the Asian bourses are expected to open in similar fashion.
The JCI finished sharply lower on Thursday following losses from the financial shares, resource stocks and cement companies.
For the day, the index slumped 85.89 points or 1.06 percent to finish at 8,040.67 after trading between 8,022.98 and 8,146.09.
Among the actives, Bank CIMB Niaga fell 0.29 percent, while Bank Mandiri shed 0.68 percent, Bank Danamon Indonesia sank 0.83 percent, Bank Central Asia dropped 0.96 percent, Bank Rakyat Indonesia stumbled 2.40 percent, Indosat Ooredoo Hutchison retreated 1.37 percent, Semen Indonesia skidded 1.04 percent, Indofood Sukses Makmur declined 1.59 percent, United Tractors perked 0.09 percent, Astra International tumbled 2.12 percent, Energi Mega Persada rallied 1.37 percent, Astra Agro Lestari soared 3.47 percent, Aneka Tambang plummeted 8.65 percent, Vale Indonesia slumped 1.40 percent, Timah plunged 3.77 percent, Bumi Resources lost 2.01 percent and Bank Negara Indonesia and Indocement were unchanged.
The lead from Wall Street is weak as the major averages opened lower on Thursday and stayed in the red throughout the trading day.
The Dow dropped 173.96 points or 0.38 percent to finish at 45,947.32, while the NASDAQ sank 113.16 points or 0.50 percent to end at 22,384.70 and the S&P 500 lost 33.25 points or 0.50 percent to close at 6,604.72.
The continued weakness on Wall Street partly reflected ongoing concerns about the near-term outlook for the artificial intelligence trade.
Renewed uncertainty about the outlook for interest rates also weighed on the markets following the release of some upbeat U.S. economic data.
Later today, the Commerce Department is scheduled to release its report on personal income and spending in August, which includes the Fed’s preferred readings on consumer price inflation.
Crude oil inched higher on Thursday amid the possibility of Russian oil exports being hit by sanctions by the U.S. West Texas Intermediate crude for November delivery was up $0.08 or 0.12 percent at $65.07 per barrel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
#Open #Called #Indonesia #Stock #Market