The Indonesia stock market has finished higher in two straight sessions, collecting more than 20 points or 0.4 percent along the way. The Jakarta Composite Index now sits just above the 5,975-point plateau and it may add to its winnings on Thursday.
The global forecast for the Asian markets is upbeat, with bargain hunting likely amid optimism for a strong economic rebound. The European markets were up and the U.S. bourses were mixed and the Asian markets figure to split the difference.
The JCI finished slightly higher on Wednesday following gains from the cement companies and mixed performances from the financials and resource stocks.
For the day, the index rose 12.09 points or 0.20 percent to finish at 5,975.91 after trading between 5,971.31 and 5,992.93.
Among the actives, Bank Danamon Indonesia collected 0.39 percent, while Bank CIMB Niaga shed 0.50 percent, Bank Negara Indonesia added 0.89 percent, Bank Central Asia improved 0.3 percent, Bank Mandiri sank 0.82 percent, Bank Rakyat Indonesia was up 0.74 percent, Indosat jumped 1.61 percent, Indocement rose 0.20 percent, Semen Indonesia advanced 1.00 percent, Indofood Suskes retreated 1.14 percent, United Tractors rallied 2.78 percent, Astra International perked 0.45 percent, Astra Agro Lestari spiked 2.84 percent, Aneka Tambang gained 0.38 percent, Vale Indonesia accelerated 1.84 percent, Timah climbed 1.36 percent and Bumi Resources plunged 3.08 percent.
The lead from Wall Street shows a positive bias as stocks fluctuated on Wednesday before ending on opposite sides of the unchanged line.
The Dow gained 97.31 points or 0.29 percent to finish at 34,230.34, while the NASDAQ lost 51.08 points or 0.37 percent to end at 13,582.42 and the S&P 500 rose 2.93 points or 0.07 percent to close at 4,167.59.
Strong gains by Dow Inc. (DOW), Chevron (CVX) and Merck (MRK) helped lift the Dow to a new record closing high.
In economic news, payroll processor ADP said private sector job growth accelerated in April but missed expectations. Also, the Institute for Supply Management noted an unexpected slowdown in the pace of U.S. service sector activity last month.
Crude oil futures dipped slightly on Wednesday as traders weighed global energy demand amid a continued surge in coronavirus cases in Asia. A sharp decline in U.S. crude inventories limited the downside. West Texas Intermediate Crude oil futures for June eased $0.06 at $65.63 a barrel.
For comments and feedback contact: editorial@rttnews.com
