Indonesia Stock Market Faces Additional Decline on Thursday

The Jakarta Composite Index fell for a sixth consecutive session, shedding over 230 points, or about 3%, to settle just below the 7,570 level, and is expected to open lower again on Thursday.

Global sentiment toward Asian markets remains bearish amid mixed corporate and economic developments. European and U.S. markets closed lower, and Asian exchanges are likely to follow suit.

The Jakarta Composite Index (JCI) declined modestly on Wednesday, with declines in financial and cement stocks offset by gains in resource‑related companies.

The index slipped 36.75 points, or 0.48%, to close at 7,569.85, having traded within a range of 7,521.73 to 7,581.91.

Bank CIMB Niaga rose 0.81%, while Bank Mandiri slipped 1.10%, Bank Danamon Indonesia fell 0.39%, Bank Negara Indonesia retreated 1.42%, Bank Central Asia stumbled 1.43%, Bank Rakyat Indonesia added 0.21%, Indocement dropped 2.01%, Semen Indonesia plunged 4.87%, Indofood Sukses Makmur fell 1.32%, United Tractors rose 0.28%, Astra International jumped 1.46%, Astra Agro Lestari tumbled 1.85%, Aneka Tambang advanced 0.93%, Vale Indonesia fell 3.01%, Timah rallied 1.92%, Bumi Resources gained 0.72%, and Indosat Ooredoo Hutchison and Energi Mega Persada remained unchanged.

Wall Street’s momentum was soft, with major averages initially falling, recovering for much of the session before a late pullback left them in negative territory.

The Dow fell 91.51 points (0.22%) to 42,141.54, the Nasdaq dropped 104.82 points (0.56%) to 18,607.93, and the S&P 500 slipped 19.25 points (0.33%) to 5,813.67.

The volatile trading reflected mixed corporate earnings, with Alphabet and Snap rising after strong results, while Advanced Micro Devices and Caterpillar fell following weaker performances.

On the U.S. economic front, ADP reported that private sector employment surged more than expected in October, whereas a separate Commerce Department report indicated that U.S. economic growth unexpectedly slowed in the third quarter.

Oil prices rose on Wednesday after data revealed an unexpected decline in U.S. crude inventories and reports that OPEC might postpone its planned output increase, with West Texas Intermediate futures climbing $1.40 (2.1%) to $68.61 per barrel.

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