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More Pain Predicted For Indonesia Stock Market

More Pain Predicted For Indonesia Stock Market ...

More Pain Predicted For Indonesia Stock Market

S & P 500 0.41 2,885.98 (0.01%) Pre-market Official Close 10/5/2018 EDT NASDAQ 100 -1.79 7,397.22 (-0.02%) Pre-market Official Close 10/5/2018 EDT DJIA -44.80 26,447.20 (-0.17%) Pre-market Official Close 10/5/2018 EDT NIKKEI 225 37.00 23,662.00 (0.16%) Official Close 10/5/2018 EDT More Pain Predicted For Indonesia Stock Market RTTNews Oct. 7, 2018, 10:03 PM

(RTTNews) - The Indonesia stock market has finished lower in five straight sessions, tumbling almost 250 points or 4.2 percent along the way. The Jakarta Composite Index now rests just above the 5,730-point plateau and it figures to open in the red again on Monday.

The global forecast for the Asian markets is negative on growing concerns about the outlook for interest rates. The European and U.S. markets were firmly lower and the already oversold Asian bourses are tipped to at least open in the red.

The JCI finished modestly lower on Friday following mixed performances from the financials, cement stocks and resource plays.

For the day, the index shed 24.68 points or 0.43 percent to finish at 5,731.94 after trading between 5,706.40 and 5,758.27. There were 222 decliners and 157 gainers, with 124 stocks finishing unchanged.

Among the actives, Bukit Darmo Property spiked 3.12 percent, while XL Axiata jumped 2.87 percent, Voksel Electric climbed 1.71 percent, Lotte Chemical advanced 1.43 percent, Bank Pan Indonesia soared 2.75 percent, Jasa Marga added 0.46 percent, Bank Danamon Indonesia collected 1.08 percent, Bank Central Asia tumbled 2.33 percent, Bank Mandiri gained 0.80 percen t, Bank Negara Indonesia shed 0.36 percent, Bank Rakyat Indonesia lost 0.67 percent, Indosat picked up 0.36 percent, Bumi Resources dropped 0.99 percent, Vale Indonesia surged 3.51 percent, Indocement perked 0.96 percent, Semen Indonesia gathered 0.85 percent, Holcim Indonesia skidded 1.40 percent and Aneka Tambang, Bank MNC Internasional and SLJ Global were unchanged.

The lead from Wall Street is soft as stocks opened sharply lower on Friday and remained in the red throughout the session, extending recent losses.

The Dow slid 180.43 points or 0.68 percent to 26,447.05, the NASDAQ tumbled 91.06 points or 1.16 percent to 7,788.45 and the S&P fell 16.04 points or 0.55 percent to 2,885.57. For the week, the eased 0.1 percent, the S&P lost 1 percent and the NASDAQ plunged 3.2 percent.

The weakness on Wall Street came as treasury yields extended a recent upward move following the release of the monthly jobs report, adding to concerns about the outlook for interest rates.

While the Labor Department report showed weaker than expected job growth in September, the jump in employment in August was upwardly revised and the unemployment rate fell to 3.7 percent for its lowest level since 1969.

Also, the Commerce Department showed the U.S. trade deficit widened in August, reflecting an increase in imports and a decrease in exports.

Crude oil prices retreated after edging higher early on in the session on Friday, as traders weighed the decision of Russia and Saudi Arabia to increase output. Crude oil futures for November ended at $74.34 a barrel, gaining a penny.

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Home News Stock News More Pain Predicted For Indonesia Stock Market Source: Google News Indonesia | Netizen 24 Indonesia

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