Little movement expected for the Indonesian stock market

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(RTTNews) – The Indonesian stock market has advanced in two consecutive sessions, advancing more than 40 points or 0.6% along the way. The Jakarta Composite Index is now just above the 6,610 plateau and is expected to remain in that quarter on Friday.

Global forecasts for Asian markets are volatile, with weakness in oil and technology stocks likely to limit any upside. European markets were up and US stock markets down and Asian markets should at least open lower.

JCI ended slightly higher on Thursday after gains in financial stocks and a mixed picture in resource stocks.

For the day, the index gained 10.34 points or 0.16% to end at 6,611.16 after trading between 6,570.75 and 6,627.41.

Among assets, Bank Danamon Indonesia fell 0.85%, while Bank CIMB Niaga collected 0.53%, Bank Negara Indonesia climbed 1.05%, Bank Central Asia gained 1.30%, Bank Mandiri rose 1.00%, Bank Rakyat Indonesia strengthened 1.22%, Indosat fell 1.26%. , Indocement fell 1.36%, Semen Indonesia fell 1.82%, Indofood Suskes fell 0.39%, United Tractors rose 2.09%, Astra International rose 0.46%, Energi Mega Persada jumped 1.83%, Bakrie Sumatera Plantations improved 0.91%, Astra Agro Lestari fell 0.77%. , Aneka Tambang lost 2.22%, Vale Indonesia fell 1.86%, Timah rose 0.36% and Bumi Resources soared 14.29%.

Wall Street’s advance is negative as major averages opened higher on Thursday but saw those gains evaporate as markets slipped into the red as the day progressed.

The Dow Jones fell 7.31 points or 0.02% to end at 34,160.78, while the NASDAQ fell 189.34 points or 1.40% to close at 13,352.78 and the S&P 500 fell 23.42 points or 0.54% to finish at 4,326.51.

Stocks continued to see intense volatility as traders weighed upbeat fourth-quarter GDP against the prospect of higher interest rates.

Markets first reacted positively to a report from the Commerce Department showing stronger than expected GDP growth in the fourth quarter of 2021. However, traders have recently shown a reluctance to maintain significant moves, which has led to further rollercoaster.

In other economic news, the Labor Department said initial jobless claims fell last week, while the Commerce Department and the National Association of Realtors noted steeper-than-expected declines in durable goods orders. and pending home sales in December.

Crude oil prices fell on Thursday as the dollar rose after the Fed signaled it would start raising interest rates in March. West Texas Intermediate crude oil futures for March ended down $0.74 or 0.9% at $86.61 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.

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