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Indonesia Shares May See Renewed Consolidation

Indonesia Shares May See Renewed Consolidation Shutterstock photo (RTTNews.c...

Indonesia Shares May See Renewed Consolidation

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( - The Indonesia stock market has moved higher in two of three trading days since the end of the two-day slide in which it had stumbled more than 80 points or 1.2 percent. The Jakarta Composite Index remains just above the 5,870-point plateau although it figures to head south again on Monday.

The global forecast for the Asian markets is flat to lower amid concerns over interest rates and stalled crude oil prices. The European and U.S. markets were slightly lower Friday and the Asian markets figure to follow suit.

The JCI finished barely higher on Friday following mixed performances from the financial shares and the resource stocks.

For the day, the index added 1.71 point s or 0.03 percent to finish at 5,872.78 after trading between 5,842.93 and 5,884.63. There were 214 decliners and 154 gainers, with 127 stocks finishing unchanged.

Among the actives, SLJ Global tumbled 2.86 percent, while Jasa Marga skidded 1.98 percent, XL Axiata jumped 1.79 percent, Bukit Darmo Property climbed 1.64 percent, Voksel Electric shed 0.63 percent, Bank Pan Indonesia lost 0.60 percent, Bank Danamon Indonesia dropped 1.95 percent, Bank Central Asia fell 0.43 percent, Bank Mandiri eased 0.39 percent, Bank Negara Indonesia declined 1.69 percent, Bank Rakyat Indonesia spiked 3.11 percent, Indosat advanced 1.70 percent, Bumi Resources slid 0.88 percent, Aneka Tambang retreated 0.57 percent, Vale Indonesia was down 1.39 percent and Tiga Pilar Sejahtera Food, Bank MNC Internasional and Lotte Chemical were unchanged.

The lead from Wall Street is slightly soft as stocks opened higher Friday but faded throughout the day and finished in the red - extend ing losses from the previous session.

The Dow shed 6.38 points or 0.03 percent to 25,058.12, the NASDAQ lost 5.10 points or 0.07 percent to 7,820.20 and the S&P 500 dipped 2.66 points or 0.09 percent to 2,801.83. For the week, the NASDAQ eased 0.1 percent, the S&P 500 added 0.01 percent and the Dow rose 0.2 percent.

The lower close on Wall Street came after President Donald Trump continued to urge the Federal Reserve to refrain from raising interest rates. Trump said the Fed's plan to gradually raise rates could hurt recent economic progress, and the rate hikes would penalize the U.S. for doing well.

The modest strength earlier in the day came amid a positive reaction to earnings news from big-name companies like Microsoft (MSFT), industrial conglomerate Honeywell (HON) and General Electric (GE).

Most of the major sectors saw only modest moves. Housing, oil service and real estate stocks moved to the downside, whil e tobacco stocks continued to recover from the sell-off in the previous session.

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This article appears in: Stocks , World Markets , PoliticsSource: Google News Indonesia | Netizen 24 Indonesia

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