Rally may end for Indonesian stock market

(RTTNews) – Indonesia’s stock market has advanced for two consecutive sessions, collecting more than 85 points or 1.2 percent along the way. The Jakarta Composite Index is now just above the 6,965-point plateau, although it could go into a tailspin on Friday.

Global forecasts for Asian markets are flat to slightly higher ahead of key inflation data later in the day. European markets were mixed and US stocks were slightly higher with Asian markets expected to split the difference.

The JCI index ended slightly higher on Thursday after gains in financial and food stocks, while cement and resources companies were mixed.

During the day, the index rose 62.31 points, or 0.90%, to end at 6,967.95, after moving between 6,915.83 and 6,968.14.

Among assets, Bank CIMB Niaga gained 0.59 percent, while Bank Mandiri climbed 2.56 percent, Bank Danamon Indonesia climbed 1.20 percent, Bank Negara Indonesia jumped 3.62 percent. cent, Bank Central Asia accelerated 2.63 percent, Bank Rakyat Indonesia climbed 2.06 percent, Indosat Ooredoo Hutchison sank. 0.72 percent, Indocement jumped 1.74 percent, Semen Indonesia fell 0.83 percent, Indofood Sukses Makmur rose 2.12 percent, Astra International gained 0.23 percent, Energi Mega Persada lost 0.52 percent, Aneka Tambang improved 1.23 percent, Vale Indonesia lost 0.74 percent, Timah strengthened by 1.15 percent. , Bumi Resources fell 1.28 percent and Astra Agro Lestari and United Tractors remained unchanged.

Wall Street’s lead is cautiously optimistic as major averages bounced around the unchanged line all day Thursday before finally stabilizing with slight gains.

The Dow Jones gained 36.26 points, or 0.09%, to end at 39,164.06 points, while the NASDAQ gained 53.53 points, or 0.30%, to close at 17,858.68 points. , and the S&P 500 rose 4.97 points, or 0.09%, to finish at 5,482.87 points.

The choppy trading on Wall Street came as traders appeared reluctant to take meaningful action ahead of key inflation data later in the day.

The Commerce Department is scheduled to release its personal income and spending report in May, which includes measures on inflation that the Federal Reserve would prefer; the report could have a significant impact on the interest rate outlook.

In economic news, the Department of Labor announced that initial claims for unemployment benefits in the United States fell more than expected last week. The Commerce Department also reported that new orders for durable goods manufactured in the United States increased unexpectedly last month.

Oil futures were higher Thursday on hopes for the demand outlook and concerns about possible supply disruptions due to tensions in the Middle East. West Texas Intermediate crude futures for August added $0.84 to $81.74 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.