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Indonesia Shares Likely To Run Out Of Steam On Monday

(RTTNews) - The Indonesia stock market has climbed higher in six straight sessions, gathering more than 160 points or 2.8 percent along the way. The Jakarta Composite Index now rests just above the 6,190-point plateau although investors figure to cash in on Monday.

The global forecast for the Asian markets is soft, thanks to disappointing economic data and ongoing uncertainty over trade negotiations between the United States and China. The European and U.S. markets were down and the Asian bourses are tipped to follow suit.

The JCI finished slightly higher on Friday as gains from the financial shares were capped by weakness from the cement stocks and a mixed picture from the resource stocks.

For the day, the index added 10.93 points or 0.18 percent to finish at 6,191.85 after trading between 6,178.50 and 6,201.17.

Among the actives, Bank Danamon Indonesia shed 0.64 percent, while Bank Mandiri climbed 1.12 percent, Bank Central Asia collected 0.74 percent, Bank Negara Indonesia jumped 1.36 percent, Bank Rakyat Indonesia spiked 2.96 percent, Indosat tumbled 2.52 percent, Indocement skidded 1.11 percent, Semen Indonesia sank 1.57 percent, Indofood Suskes dropped 1.31 percent, Unilever plummeted 3.63 percent, Bumi Resources advanced 1.19 percent, Aneka Tambang retreated 2.09 percent, Vale Indonesia fell 0.85 percent and Timah surged 3.33 percent.

The lead from Wall Street is negative as stocks opened lower on Friday and stayed that way through the session.

The Dow shed 255.68 points or 0.95 percent to end at 26,770.20, the NASDAQ sank 67.31 points or 0.83 percent to 8,089.54 and the S&P 500 fell 11.75 points or 0.39 percent to 2,986.20. For the week, the Dow eased 0.2 percent, the NASDAQ added 0.4 percent and the S&P rose 0.5 percent.

The weakness on Wall Street reflected concerns about the global economic outlook following soft Chinese data that showed its economy grew at the slowest rate in three decades in Q3.

In U.S. economic news, the Conference Board reported an unexpected drop by its reading on leading U.S. economic indicators in September.

Lingering uncertainty about a possible U.S.-China trade deal and questions about the Brexit deal getting through parliament also weighed on the markets.

Crude oil futures dropped Friday as disappointing GDP data from China added to concerns about the outlook for global energy demand. West Texas Intermediate crude oil futures for November eased $0.15 or 0.3 percent at $53.78 a barrel.
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