Additional support planned for Indonesian actions
(RTTNews) – The Indonesian stock market has alternated positive and negative finishes over the past four trading days since the end of the two-day winning streak in which it jumped more than 170 points or 3%. The Jakarta Composite Index now sits just below the 6,420 point plateau and it could increase its gains on Thursday.
Global forecasts for Asian markets are mixed to higher, with a bargain hunt likely for oversold exchanges – although falling crude oil prices may cap the rise. European markets were down and US stock markets were mixed and Asian markets should follow this latest lead.
JCI finished sharply higher on Wednesday following gains in financial stocks and resources stocks.
For the day, the index climbed 129.27 points or 2.06% to end at 6,417.32 after trading between 6,307.11 and 6,441.50.
Among assets, Bank Danamon Indonesia grew 2.58%, while Bank CIMB Niaga rose 6.53%, Bank Negara Indonesia accelerated 5.26%, Bank Central Asia collected 3.38%, Bank Mandiri climbed 2.72%, Bank Rakyat Indonesia improved 4.83%, Indosat fell 0.39%. , Indofood Suskes climbed 1.54%, United Tractors jumped 1.63%, Astra International climbed 7.66%, Energi Mega Persada jumped 4.76%, Astra Agro Lestari strengthened by 2.53%, Vale Indonesia rose 0.21%, Timah fell 1.25%, Bumi Resources rose 1.10% and Indocement, Semen Indonesia and Aneka Tambang remained unchanged.
Wall Street’s lead is bullish as major averages opened sharply lower on Wednesday, but a late rally saw them end in positive territory.
The Dow Jones climbed 102.32 points or 0.30% to close at 34,416.99, while the NASDAQ jumped 68.08 points or 0.47% to close at 14,501.91 and the S&P 500 increased 17.83 points or 0.41% to end at 4,363.55.
The turnaround on Wall Street came on the news that Senate Minority Leader Mitch McConnell, R-Ken., Has offered to allow a temporary extension of the debt limit.
Debt limit concerns weighed on markets early in the session, as did lingering concerns about inflation and the Federal Reserve’s cutbacks in stimulus.
In economic news, payroll processor ADP noted stronger than expected private sector job growth in September. The Labor Department is expected to release its more closely watched monthly employment report on Friday, which includes both public and private sector jobs.
Crude oil prices fell on Wednesday, hitting multi-year highs amid concerns over slowing economic growth, high inflation and fears of rising interest rates from central banks. West Texas Intermediate crude oil futures for November fell $ 1.50 or 1.9% to $ 77.43 a barrel.
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