(RTTNews) – On Wednesday, Indonesia’s stock market snapped a nine‑day winning run that had lifted the Jakarta Composite Index by over 460 points, or roughly 7.5%. The index hovered just above the 6,330‑point level, and further declines could emerge on Thursday.
Asian market outlook is mixed to negative, driven by rising crude oil prices and ongoing tensions in the Middle East. While European exchanges gained, U.S. equities slipped, suggesting Asian indices may track the weaker U.S. trend.
The Jakarta Composite Index edged lower on Wednesday, with declines in resources and transport countered by gains in financials and property stocks.
During the session, the index slipped 5.54 points, or 0.09%, closing at 6,334.48 after trading in a range of 6,284.88 to 6,394.69.
Wall Street’s tone was subdued, with major averages opening lower, fluctuating through the day, and finishing modestly down.
The Dow Jones Industrial Average dipped 6.06 points (0.01%) to 52,218.58, the Nasdaq Composite fell 146.30 points (0.57%) to 25,690.90, and the S&P 500 slipped 10.24 points (0.14%) to 7,498.96.
The uneven trading on Wall Street reflected trader caution ahead of key earnings releases from technology heavyweights Alphabet (GOOGL), Tesla (TSLA) and IBM (IBM).
Traders tried to look past a prolonged rally in crude oil, as U.S. futures climbed to their highest level in over a month amid rising tensions between the United States and Iran.
Crude oil prices rose again on Wednesday due to supply‑disruption worries, with the U.S.–Iran conflict showing no signs of easing. West Texas Intermediate for September delivery gained $2.62, or 3.11%, to settle at $86.96 per barrel.
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