The Indonesian stock market has a firm lead for Monday’s trade

(RTTNews) – The Indonesian stock market rebounded on Friday, a session after ending the two-day winning streak in which it fell nearly 85 points or 1.2%. The Jakarta Composite Index now sits just above the 7,045 plateau and is expected to extend its gains on Monday.

Global forecasts for Asian markets are upbeat following stronger-than-expected US jobs data. European and US markets were solidly higher and Asian exchanges are expected to follow suit.

The JCI ended slightly higher on Friday after gains from cement companies and mixed performance from financials and resources.

For the day, the index gained 10.96 points or 0.16% to end at 7,045.53.

Among assets, Bank Danamon Indonesia fell 2.87%, while Bank Negara Indonesia fell 0.27%, Bank Central Asia fell 0.28%, Bank Mandiri fell 0.25%, Indosat Ooredoo Hutchison fell 1.83%, Indocement rose 3.71%, Semen Indonesia climbed 2.80%. Indofood Suskes climbed 1.18%, United Tractors rose 0.89%, Astra International rose 0.78%, Energi Mega Persada plunged 4.06%, Astra Agro Lestari sank 0.86 %, Aneka Tambang climbed 4.64%, Vale Indonesia jumped 1.89%, Timah strengthened 1.49%, Bumi Resources fell 3.89% and Bank CIMB Niaga, Jasa Marga and Bank Rakyat Indonesia remained unchanged.

Wall Street’s lead is bullish as major averages opened sharply higher on Friday, faded at midday but rebounded late in the session.

The Dow Jones jumped 402.02 points or 1.26% to end at 32,403.22, while the NASDAQ jumped 132.35 points or 1.28% to close at 10,475.25 and the S&P 500 climbed 50.66 points or 1.36% to end at 3,770.55.

For the week, the NASDAQ fell 5.7%, the S&P fell 3.4% and the Dow fell 1.4%.

The volatility followed the release of the Labor Department’s closely watched monthly jobs report for October.

The report showed that non-farm payroll employment jumped 261,000 jobs in October after jumping an upwardly revised 315,000 jobs in September.

The report drew a mixed reaction among traders, creating uncertainty about the prospects for future interest rate hikes.

Crude oil prices rose on Friday amid easing concerns about the outlook for energy demand. Dollar weakness and fears of an EU ban on Russian oil also supported crude oil prices. West Texas Intermediate crude oil futures for December ended up $4.44 or 5% at $92.61 a barrel.

Closer to home, Indonesia will provide third quarter figures for gross domestic product later today, with forecasts suggesting an increase of 1.62% on the quarter and 5.89% on the year. . This follows the quarterly increase of 3.72% and the annual gain of 5.44% in the previous three months.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


Not all news on the site expresses the point of view of the site, but we transmit this news automatically and translate it through programmatic technology on the site and not from a human editor.
Back to top button