(RTTNews) – Ahead of the long Eid-ul-Fitr break, the Indonesian stock market has risen on two of the three trading days since ending the two-day decline in which it fell more 60 points or 0.8%. The Jakarta Composite Index now sits just below the 7,230 plateau and is likely to open under pressure as it catches up with misfire sentiment.
The global outlook for Asian markets is weak given concerns over the global economy and interest rate outlook, with technology stocks particularly likely to fall. European and American markets were down and Asian exchanges are expected to open similarly.
The JCI ended slightly higher on April 28 after mixed performances from financial stocks, cement companies and resources.
For the day, the index gained 32.15 points or 0.45% to end at 7,228.91 after trading between 7,204.60 and 7,267.11.
Among assets, Bank Danamon Indonesia fell 0.81%, while Bank CIMB Niaga jumped 2.40%, Bank Negara Indonesia fell 2.38%, Bank Central Asia fell 0.91%, Bank Mandiri soared 8.81%, Bank Rakyat Indonesia collected 0.41%, Indosat fell 1.75%. , Indocement rose 0.48%, Semen Indonesia slipped 1.16%, Indofood Suskes sank 0.79%, United Tractors jumped 4.76%, Astra International jumped 6.32%, Energi Mega Persada accelerated 3.66%, Bakrie Sumatera Plantations rose 0.86%, Astra Agro Lestari fell 2.91%. , Aneka Tambang strengthened by 1.56%, Vale Indonesia improved by 1.74%, Timah lost 0.54% and Bumi Resources remained unchanged.
Wall Street’s lead ends up being negative as the major averages spent most of Friday bouncing off the unchanged line before finally settling into the red.
The Dow Jones lost 98.63 points or 0.30% to end at 32,899.37, while the NASDAQ fell 173.04 points or 1.40% to end at 12,144.66 and the S&P 500 fell 23.53 points or 0.57% to close at 4,123.34. For the week, the NASDAQ fell 1.5% and the Dow Jones and S&P both fell 0.2%.
The lower close on Wall Street followed the closely watched Labor Department report showing stronger-than-expected job growth in April.
With the report showing continued strength in the labor market, economists predicted that the Federal Reserve will now continue its plans for a sharp hike in interest rates over the next few months.
Worries about the outlook for interest rates may have weighed on Wall Street, along with a continued rise in Treasury yields.
Crude oil prices closed higher on Friday and also posted a weekly gain, amid supply concerns following the European Union’s decision to offer some of its toughest measures yet against the Russia. West Texas Intermediate crude oil futures for June ended up $1.51 or 1.4% at $109.77 a barrel. WTI crude futures gained almost 5% during the week.
Closer to home, Indonesia will release first quarter GDP figures and April consumer price figures later today. GDP is expected to fall 0.89% quarter on quarter and rise 5.0% year on year after gaining 1.06% quarter on quarter and 5.02% year on year in the previous three months. Inflation is expected to increase by 0.84% over one month and 3.36% over one year after reaching 0.66% over one month and 2.64% over one year in March.
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