The Indonesia stock market closed lower for a second straight session, shedding roughly 75 points, or about 1%, leaving the Jakarta Composite Index just above 7,715. Despite the pullback, the index is expected to open higher on Friday.
Global sentiment for Asian markets is mixed but leaning higher, reflecting recent earnings releases. European markets rose while U.S. indices were mixed, leaving Asian markets to balance the divergent trends.
On Thursday, the Jakarta Composite Index ended modestly lower, weighed by declines in resource stocks and uneven results from financial and cement firms.
During the session, the index fell 71.02 points, or 0.91%, to a daily low of 7,716.55, after reaching a high of 7,794.86.
Among the most active stocks, gains were led by Bank CIMB Niaga (+0.52%), Bank Central Asia (+0.47%), Semen Indonesia (+0.23%), Indofood Sukses Makmur (+0.33%) and Astra Agro Lestari (+1.10%). Declines were seen in Bank Mandiri (-1.41%), Bank Danamon Indonesia (-1.14%), Bank Negara Indonesia (-0.88%), Bank Rakyat Indonesia (-0.82%), Indosat Ooredoo Hutchison (-1.21%), Indocement (-0.96%), United Tractors (-0.56%), Astra International (-0.47%), Energi Mega Persada (-5.92%), Aneka Tambang (-1.82%), Jasa Marga (-0.62%), Vale Indonesia (-1.90%), Timah (-0.37%) and Bumi Resources (-0.68%). Bank Maybank Indonesia finished unchanged.
Wall Street provided little directional cues, as the major U.S. indices opened mixed on Thursday and closed with similar divergence.
The Dow slipped 140.59 points (0.33%) to 42,374.36, the NASDAQ advanced 138.83 points (0.76%) to 18,415.49, and the S&P 500 edged up 12.44 points (0.21%) to 5,809.86.
NASDAQ strength was driven by robust quarterly earnings from technology leaders such as Tesla (TSLA) and UPS (UPS).
Conversely, the Dow was pressured by disappointing earnings reports from IBM (IBM), Honeywell (HON) and Boeing (BA).
Oil prices declined on Thursday, building on previous session losses as concerns over excess supply and sluggish crude demand in China persisted. West Texas Intermediate crude for December settled $0.58 lower, or 0.8%, at $70.19 per barrel.
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