The Indonesia stock market has moved lower in back-to-back sessions, sinking almost 100 points or 1.1 percent along the way. The Jakarta Composite Index now sits just shy of the 8,510-point plateau, although it figures to stop the bleeding on Monday.
The global forecast for the Asian markets is upbeat on an improved outlook for interest rates. The European and U.S. markets were up and the Asian bourses are tipped to open in similar fashion.
The JCI finished modestly lower on Friday as the financial shares and resource stocks were mostly in the red. Telecoms were up and the cement companies were mixed.
For the day, the index shed 37.16 points or 0.43 percent to finish at 8,508.71 after trading between 8,495.21 and 8,572.36.
Among the actives, Bank Mandiri shed 0.62 percent, while Bank Danamon Indonesia collected 0.40 percent, Bank Negara Indonesia stumbled 2.07 percent, Bank Central Asia lost 0.60 percent, Bank Rakyat Indonesia retreated 1.60 percent, Indosat Ooredoo Hutchison rallied 3.91 percent, Indocement tanked 2.95 percent, Semen Indonesia climbed 1.39 percent, Indofood Sukses Makmur fell 0.34 percent, United Tractors declined 1.23 percent, Astra International slipped 0.38 percent, Aneka Tambang surrendered 3.00 percent, Vale Indonesia plunged 3.29 percent, Timah dropped 0.91 percent, Bumi Resources advanced 0.83 percent and Bank CIMB Niaga, Energi Mega Persada and Astra Agro Lestari were unchanged.
The lead from Wall Street is positive as the major averages opened higher on Friday and remained in the green throughout the day for a fifth straight session.
The Dow jumped 289.30 points or 0.61 percent to finish at 47,716.42, while the NASDAQ rallied 151.00 points or 0.65 percent to end at 23,365.69 and the S&P 500 climbed 36.48 points or 0.54 percent to close at 6,849.09.
For the holiday-shortened week, the NASDAQ spiked 4.9 percent, the S&P 500 jumped 3.7 percent and the Dow climbed 3.2 percent.
Renewed optimism about the outlook for interest rates has contributed to the recent rebound following dovish comments from leading Federal Reserve officials. CME Group’s FedWatch Tool is currently indicating an 86.9 percent chance the central bank will cut rates by another quarter point at its December meeting.
Trading activity remained somewhat subdued, however, as some traders remained away from their desks following the Thanksgiving holiday.
Crude oil prices edged higher on Friday a proposed peace deal to end the Russia-Ukraine war remains in limbo. West Texas Intermediate crude for January delivery was up $0.18 or 0.31 percent at $58.83 per barrel.
Closer to home, Indonesia will release October trade data and November numbers for inflation later today. In September, imports were up 7.17 percent on year and exports rose an annual 11.41 percent for a trade surplus of $4.34 billion. Overall inflation was up 0.28 percent on month and 2.86 percent on year in October, while core CPI rose an annual 2.36 percent.
Market Analysis
Indonesia Bourse Poised To End Losing Streak
2025-12-01 01:30:54
