The Indonesia stock market on Wednesday ended the two-day winning streak in which it had picked up almost 110 points or 1.3 percent. The Jakarta Composite Index now sits just above the 8,610-point plateau although it may see renewed support on Thursday.
The global forecast for the Asian markets is cautiously optimistic on an improved outlook for interest rates. The European markets were mixed and flat and the U.S. bourses was mild upside and the Asian markets figure to split the difference.
The JCI finished slightly lower on Wednesday following losses from the resource and telecom stocks, support from the cement companies and a mixed picture from the financial sector.
For the day, the index eased 5.26 points or 0.06 percent to finish at 8,611.79 after trading between 8,591.81 and 8,669.19.
Among the actives, Bank Mandiri collected 0.62 percent, while Bank Danamon Indonesia rose 0.40 percent, Bank Negara Indonesia fell 0.23 percent, Bank Central Asia dropped 0.90 percent, Bank Rakyat Indonesia retreated 1.35 percent, Indosat Ooredoo Hutchison tumbled 1.70 percent, Indocement improved 0.76 percent, Semen Indonesia jumped 1.78 percent, Indofood Sukses Makmur stumbled 2.08 percent, United Tractors added 0.61 percent, Astra International shed 0.38 percent, Energi Mega Persada tanked 2.10 percent, Astra Agro Lestari rallied 1.31 percent, Aneka Tambang slumped 2.01 percent, Vale Indonesia skidded 1.01 percent, Timah declined 1.24 percent, Bumi Resources sank 0.83 percent and Bank CIMB Niaga was unchanged.
The lead from Wall Street is upbeat as the major averages opened in the red but quickly moved higher and continued to pick up speed through the day, ending near session highs.
The Dow jumped 408.44 points or 0.86 percent to finish at 47,882.90, while the NASDAQ added 40.42 points or 0.17 percent to close at 23,454.09 and the S&P 500 gained 20.35 points or 0.30 percent to end at 6,849.72.
The strength in the broader markets followed the release of a report from payroll processor ADP showing an unexpected decrease by private sector employment in November.
The data added to recently renewed optimism that the Federal Reserve will once again lower interest rates at its monetary policy meeting next week.
CME Group’s FedWatch Tool is currently indicating an 89.0 percent chance the Fed will cut rates by another quarter point next week.
Crude oil prices rose on Wednesday as proposed Russia-Ukraine peace talks failed to deliver a breakthrough. West Texas Intermediate crude for January delivery was up $0.23 or 0.39 percent at $58.87 per barrel.
Market Analysis
Indonesia Bourse May Reverse Wednesday’s Losses
2025-12-04 01:34:23
