(RTTNews) – The Indonesia stock market headed south again on Tuesday, one day after snapping the two-day slide in which it had fallen almost 85 points or 1.1 percent. The Jakarta Composite Index now sits just above the 7,900-point plateau although it’s looking to bounce higher again on Wednesday.
The global forecast for the Asian markets is cautiously optimistic, with tech shares likely to rise ahead of key earnings news later in the day. The European markets were down and the U.S. bourses were up and the Asian markets figures to follow the latter lead.
The JCI finished modestly lower on Tuesday following losses from the financial shares and mixed performances from the resource and cement sectors.
For the day, the index slipped 21.15 points or 0.27 percent to finish at 7,905.76 after trading between 7,881.21 and 7,978.07.
Among the actives, Bank CIMB Niaga fell 0.29 percent, while Bank Mandiri skidded 1.01 percent, Bank Negara Indonesia spiked 2.02 percent, Bank Central Asia slumped 2.65 percent, Bank Rakyat Indonesia dropped 0.95 percent, Indosat Ooredoo Hutchison advanced 0.97 percent, Indocement surged 3.28 percent, Semen Indonesia retreated 1.42 percent, Indofood Sukses Makmur rallied 1.30 percent, United Tractors tanked 2.48 percent, Astra International stumbled 2.17 percent, Energi Mega Persada surrendered 2.56 percent, Astra Agro Lestari plummeted 3.34 percent, Aneka Tambang rose 0.35 percent, Vale Indonesia tumbled 1.90 percent and Timah, Bumi Resources and Bank Danamon Indonesia were unchanged.
The lead from Wall Street is mildly positive as the major averages were flat for much of Tuesday before a late push nudged them up into the green at the close.
The Dow gained 135.60 points or 0.30 percent to finish at 45,418.07, while the NASDAQ added 94.98 points or 0.44 percent to close at 21,544.27 and the S&P 500 rose 26.62 points or 0.41 percent to end at 6,465.94.
The choppy trading on Wall Street comes as traders seem reluctant to make significant moves ahead of earnings news from Nvidia (NVDA), with the AI darling and market leader due to report its second quarter results later today.
Traders are also keeping an eye on the latest developments in Washington after President Donald Trump said he is removing Fed Governor Lisa Cook from her position. Trump accused her of making false statements on one or more mortgage agreements.
Meanwhile, Trump has threatened to impose “substantial additional tariffs” on countries that do not remove digital taxes and related regulations that harm U.S. tech companies.
Crude oil prices moved sharply lower on Tuesday, reflecting concerns about erratic U.S. trade policies. West Texas Intermediate crude for October delivery tumbled $1.55 or 2.4 percent to $63.25 a barrel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
#Indonesia #Shares #Reverse #Tuesdays #Losses