Lower Open Predicted For Indonesia Stock Market

Posted by On 10:51 PM

Lower Open Predicted For Indonesia Stock Market

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(RTTNews.com) - The Indonesia stock market on Monday ended the two-day winning streak in which it had picked up more than 100 points or 1.6 percent. The Jakarta Composite Index now rests just beneath the 5,825-point plateau and it's expected to open under pressure again on Tuesday.

The global forecast for the Asian markets is soft thanks to trade concerns and a drop in crude oil prices. The European and U.S. markets were down and the Asian bourses figure to follow suit.

The JCI finished sharply lower on Monday following losses from the financial shares, resource stocks and cement companies.

For the day, the index plummeted 107.02 points or 1.80 percent to fin ish at 5,824.26 after trading between 5,811.92 and 5,911.65. There were 244 decliners and 122 gainers, with 121 stocks finishing unchanged.

Among the actives, XL Axiata tumbled 1.98 percent, while Lotte Chemical jumped 1.46 percent, Jasa Marga skidded 2.66 percent, Bank Pan Indonesia spiked 1.81 percent, Bukit Darmo Property perked 1.69 percent, Voksel Electric dropped 1.09 percent, Bank Central Asia dipped 0.21 percent, Bank Mandiri plummeted 4.44 percent, Bank Negara Indonesia plunged 3.99 percent, Bank Rakyat Indonesia retreated 3.26 percent, Indosat fell 1.66 percent, Bumi Resources declined 1.79 percent, Vale Indonesia gave away 4.13 percent, Indocement cratered 6.02 percent, Semen Indonesia lost 2.22 percent, Holcim Indonesia fell 2.13 percent and Bank MNC Internasional and Bank Danamon Indonesia were unchanged.

The lead from Wall Street is negative as stocks moved mostly lower on Monday, giving back ground after finishing higher last week.

The Dow shed 92.55 points or 0.35 percent to 26,062.12, while the NASDAQ plunged 114.25 points or 1.43 percent to 7,895.79 and the S&P 500 fell 16.18 points or 0.56 percent to 2,888.80.

Lingering trade concerns weighed on the markets throughout the day, with stocks seeing further downside after President Donald Trump said an announcement on trade with China would be made after the close of trading.

In economic news, the New York Federal Reserve noted a bigger than expected slowdown in the pace of growth in regional manufacturing activity in September.

Crude oil prices retreated to close lower on Monday, after trending higher early on in the session. Crude oil futures for October delivery ended down $0.08 or 0.1 percent at $68.91 a barrel on the New York Mercantile Exchange.

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

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