Indonesia Markets Turn Lower While Wall Street Sees Gains

(RTTNews) – The Indonesia stock market shifted lower again on Thursday, a day after it ended a five‑day decline that saw it fall over 540 points or 7.9 percent. The Jakarta Composite Index is now just below the 6,615‑point mark, a level it seeks to regain on Friday.

Global sentiment toward Asian markets remains optimistic, with easing concerns about future interest‑rate directions. European and U.S. indices largely held gains, and Asian bourses are expected to open in a similar fashion.

The JCI closed modestly lower on Thursday, with losses in the food and financial sectors offset by support from cement and resource companies.

The index ended the day down 32.21 points, or 0.48 percent, at 6,613.57.

Key performances included Bank Mandiri up 1.72 percent, while Bank Negara Indonesia fell 1.16 percent, Bank Central Asia slid 1.64 percent, Bank Rakyat Indonesia dropped 0.99 percent, Bank Maybank Indonesia gained 3.09 percent, Indosat Ooredoo Hutchison fell 0.29 percent, Indocement rose 1.93 percent, Semen Indonesia surged 3.92 percent, United Tractors fell 1.51 percent, Astra International gained 0.43 percent, Aneka Tambang jumped 5.38 percent, Jasa Marga declined 0.74 percent, Vale Indonesia rose 2.58 percent, Timah advanced 3.13 percent, Bumi Resources increased 2.02 percent, and several banks and corporates remained flat.

Wall Street’s performance remained strong, with major averages opening slightly higher on Thursday and continuing to firm throughout the session, finishing near highs.

The Dow rose 342.87 points, or 0.77 percent, to 44,711.43; the NASDAQ advanced 295.69 points, or 1.50 percent, to 19,945.64; and the S&P 500 gained 63.10 points, or 1.04 percent, ending at 6,115.07.

The rally on Wall Street followed the Labor Department’s January producer‑price inflation report. Although headline inflation rose more than expected, core components of the Fed’s preferred inflation gauge held steady, easing concerns over potential hikes in interest rates after last Wednesday’s consumer‑price data.

Another Labor Department release noted that U.S. first‑time claims for unemployment benefits fell slightly more than anticipated last week.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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