Indonesian stock market expected opening decline
(RTTNews) – The Indonesian stock market has risen in two of three trading days since the end of the two-day losing streak in which it lost nearly 20 points or 0.3%. The Jakarta Composite Index now sits just below the 6,100 point plateau and is likely to head south again on Tuesday.
Global forecasts are mixed to lower, crude oil prices and covid concerns should weigh on sentiment. European markets were up and US stock markets were mostly down and Asian markets are expected to follow this latest trend.
JCI finished slightly higher on Monday following gains in cement stocks and mixed performance from financial and resource companies.
For the day, the index added 26.50 points or 0.44% to end at 6,096.54 after trading between 6,048.10 and 6,112.83.
Among assets, Bank Danamon Indonesia rose 1.39%, while Bank CIMB Niaga grew 2.62%, Bank Negara Indonesia 0.84%, Bank Central Asia fell 0.17%, Bank Mandiri fell 0.44%, Bank Rakyat Indonesia gained 0.81%, Indosat rose 0.85%. , Indocement climbed 4.83 percent, Semen Indonesia rose 1.30 percent, Indofood Suskes jumped 1.65%, United Tractors slipped 1.28%, Astra International rose 2.12 percent , Astra Agro Lestari improved 0.94 percent, Aneka Tambang fell 0.40 percent, Vale Indonesia fell 1.82 percent, Timah grew 1.20%, Bumi Resources accelerated by 1.75% and Energi Mega Persada jumped 4.72%.
Wall Street’s lead is uninspired as major averages opened firmly higher on Monday but faded as the session progressed – ultimately ending mixed and little changed.
The Dow Jones lost 97.31 points or 0.28% to end at 34,838.16, while the NASDAQ was up 8.39 points or 0.06% to end at 4,681.07 and the S&P 500 was lost 8.10 points or 0.18% to close at 4,387.16.
Wall Street’s initial strength reflects optimism about the outlook for the economy as the Federal Reserve is in no rush to start cutting stimulus.
A positive sentiment may also have been generated after a bipartisan group of senators unveiled a nearly $ 1 trillion infrastructure package.
However, buyer interest weakened after the Institute for Supply Management noted an unexpected slowdown in the pace of growth in U.S. manufacturing activity in July. Additionally, the Commerce Department said construction spending increased less than expected in June.
Crude oil prices fell sharply on Monday amid growing concerns about the outlook for energy demand amid an increase in the delta variant of the coronavirus in several countries. West Texas Intermediate crude oil futures for September plunged $ 2.69 or 3.6% to $ 71.26 a barrel.
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