Indonesia Bourse Tipped To Open Under Pressure

Posted by On 7:37 PM

Indonesia Bourse Tipped To Open Under Pressure

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(RTTNews.com) - The Indonesia stock market had climbed higher in three consecutive trading days, gathering more than 200 points or 3.2 percent along the way. The Jakarta Composite Index now rests just above the 5,980-point plateau although it's looking at a soft start on Friday.

The global forecast for the Asian markets is negative, thanks to growing trade war concerns and a dip in crude oil prices. The European and U.S. markets were down and the Asian markets figure to follow suit.

The JCI finished modestly higher on Thursday following gains from the financial shares and a mixed picture from the resource stocks.

For the day, the index collected 38.68 points or 0.65 percent to finish at 5,982.98 after trading between 5,934.29 and 5,991.30. There were 192 decliners and 180 gainers, with 134 stocks finishing unchanged.

Among the actives, Bukit Darmo Property plummeted 7.69 percent, while Voksel Electric spiked 2.07 percent, XL Axiata tumbled 1.97 percent, Lotte Chemical shed 0.68 percent, Bank Pan Indonesia skidded 1.89 percent, Jasa Marga dropped 1.50 percent, SLJ Global climbed 0.84 percent, Bank Danamon Indonesia retreated 1.41 percent, Bank Central Asia soared 2.93 percent, Bank Mandiri jumped 2.24 percent, Bank Negara Indonesia advanced 2.37 percent, Bank Rakyat Indonesia surged 3.81 percent, Bumi Resources fell 0.89 percent, Aneka Tambang soared 4.19 percent and Vale Indonesia, Indosat, Bank MNC Internasional and Tiga Pilar Sejahtera Food all were unchanged.

The lead from Wall Street is soft as choppy trading persisted Thursday, bouncing back and forth across the unchanged line before closing modestly lower.

The Dow shed 76.62 points or 0.30 percent to finish at 25,656.98, while the NASDAQ lost 10.64 points of 0.13 percent to 7,878.46 and the S&P 500 fell 4.84 points or 0.17 percent to 2,856.98.

The choppy trading came as traders were reluctant to make significant moves amid renewed concerns after the U.S. imposed tariffs on $16 billion worth of Chinese goods, leading to retaliation by the Asian nation.

In economic news, the Labor Department noted a drop in first-time claims for U.S. unemployment benefits in the week ended August 18. Also, the Commerce Department saw an unexpected decrease in new home sales in July.

Crude oil prices eased on Thursday on worries the U.S.-China trade war could hurt global economic growth and result in a drop in demand. Crude oil futures for October delivery ended at $67.83 a barrel, down 3 cents from previous close.

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This article appears in: Politics , World Markets , US Markets , StocksSource: Google News Indonesia | Netizen 24 Indonesia

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