(RTTNews) – The Indonesia stock market has moved higher in five straight sessions, collecting more than 365 points or 5.8 percent along the way. The Jakarta Composite Index now rests just above the 6,435-point plateau although it may run out of steam on Thursday.

The global forecast for the Asian markets is murky, with upside limited by political uncertainty and falling oil prices. The European and U.S. markets were mixed and little changed and the Asian bourses figure to follow that lead.

The JCI finished modestly higher on Wednesday following large gains from the resource stocks and a mixed picture from the finance and cement sectors.

For the day, the index gained 39.54 points or 0.62 percent to finish at 6,435.21 after trading between 6,393.90 and 6,464.35.

Among the actives, Bank Danamon Indonesia advanced 0.88 percent, while Bank Mandiri shed 0.36 percent, Bank Rakyat Indonesia jumped 1.48 percent, Bank Negara Indonesia collected 0.38 percent, Indosat skyrocketed 8.05 percent, Astra International rallied 3.83 percent, Indocement added 0.68 percent, Semen Indonesia lost 0.62 percent, Indofood Suskes fell 0.37 percent, United Tractors eased 0.10 percent, Telkom Indonesia dropped 0.85 percent, Astra Agro Lestari skidded 1.40 percent, Aneka Tambang surged 12.64 percent, Vale Indonesia spiked 2.70 percent, Timah soared 6.65 percent, Bumi Resources exploded for a 33.77 percent gain and Bank CIMB Niaga was unchanged.

The lead from Wall Street offers little clarity as stocks bounced back and forth across the unchanged line on Wednesday, finally ending mixed.

The Dow eased 8.22 points or 0.03 percent to finish at 31,060.47, while the NASDAQ added 56.52 points or 0.43 percent to end at 13,128.95 and the S&P 500 rose 8.65 points or 0.23 percent to close at 3,809.84.

The higher close by the NASDAQ and the S&P came as treasuries rebounded following recent weakness, leading to a drop in bond yields and contributed to significant strength among interest rate sensitive stocks like utilities and properties.

Buying interest was subdued as political uncertainty kept some traders on the sidelines as House Democrats impeached President Donald Trump for a second time over allegations that he incited last week’s violent attack on the U.S. Capitol building.

In economic news, the Labor Department said U.S. consumer prices increased in line with estimates last month. Also, the Federal Reserve released its Beige Book, which said economic activity has increased modestly.

Crude oil futures fell on Wednesday as concerns about the outlook for energy demand amid the continued rise in coronavirus cases and tighter restrictions on movements hurt oil prices. West Texas Intermediate Crude oil futures for February sank $0.30 or 0.6 percent at $52.91 a barrel.

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