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Indonesia Shares Expected To Open In The Red

(RTTNews) - The Indonesia stock market on Wednesday snapped the two-day slide in which it had stumbled almost 60 points or 0.9 percent. The Jakarta Composite Index now rests just beneath the 6,460-point plateau although it's likely to hand back those gains on Thursday.

The global forecast for the Asian markets is soft on geopolitical concerns regarding North Korea and disappointing economic data. The European and U.S. markets were down and the Asian markets are expected to open in similar fashion.

The JCI finished modestly higher on Wednesday as the financial shares and resource stocks were mostly in the green.

For the day, the index collected 16.68 points or 0.26 percent to finish at 6,457.96 after trading between 6,424.26 and 6,473.01.

Among the actives, Indocement soared 5.84 percent, while Semen Indonesia skidded 1.17 percent, United Tractors dropped 1.02 percent, Indofood Suskes added 0.70 percent, Unilever Indonesia rose 0.51 percent, Holcim Indonesia climbed 1.02 percent, Bank Danamon Indonesia spiked 3.72 percent, Bank Central Asia eased 0.09 percent, Bank Mandiri jumped 1.80 percent, Bank Rakyat Indonesia collected 1.04 percent, Indosat plunged 4.09 percent, Aneka Tambang advanced 0.97 percent, Vale Indonesia gained 0.52 percent, Timah dipped 0.35 percent and Bank Negara Indonesia and Bumi Resources were unchanged.

The lead from Wall Street is negative as stocks moved mostly lower on Wednesday, extending losses from the previous session.

The Dow shed 133.17 points or 0.33 percent to 25,673.46, while the NASDAQ lost 70.44 points or 0.93 percent to 7,505.92 and the S&P 500 fell 18.20 points or 0.65 percent to 2,771.45.

Geopolitical concerns weighed on Wall Street after new satellite images of activity at a North Korean long-range rocket site suggests Pyongyang may be rapidly rebuilding the test facility that it pledged to dismantle.

Traders also reacted negatively to a report from payroll processor ADP showing U.S. private sector job growth slowed in February after an upwardly revised spike in January. Also, the Commerce Department reported that the U.S. trade deficit widened more than expected.

Crude oil futures settled lower Wednesday after the U.S. Energy Information Administration noted a larger than expected increase in crude inventories last week. West Texas Intermediate Crude oil futures for April ended down $0.34 or 0.6 percent at $56.22 a barrel.
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