Indonesia Bourse Predicted To Open In The Red

(RTTNews) - The Indonesia stock market on Tuesday ended the two-day winning streak in which it had gathered more than 50 points or 1 percent. The Jakarta Composite Index now sits just beneath the 5,130-point plateau and it's looking at another soft start again on Wednesday.

The global forecast is mostly negative on continued concerns about the resurgence of the coronavirus and the growing unlikelihood of any stimulus to counter it. The European markets were down and the U.S. bourses were mixed and the Asian markets figure to follow the former lead.

The JCI finished modestly lower on Tuesday as the financial shares, cement stocks and resource companies were mostly in the red.

For the day, the index lost 15.82 points or 0.31 percent to finish at 5,128.23 after trading between 5,110.62 and 5,155.57.

Among the actives, Bank Danamon Indonesia tumbled 1.60 percent, while Bank Negara Indonesia plunged 2.27 percent, Bank Rakyat Indonesia collected 0.60 percent, Bank Central Asia slid 0.43 percent, Indosat shed 0.50 percent, Indocement dropped 0.81 percent, Semen Indonesia fell 0.26 percent, Indofood Suskes skidded 1.06 percent, Astra International gained 0.46 percent, Astra Agro Lestari soared 3.08 percent, Aneka Tambang lost 0.47 percent, Vale Indonesia tanked 1.94 percent, Timah sank 0.60 percent and Bank Mandiri, Bank CIMB Niaga and Bumi Resources were unchanged.

The lead from Wall Street is inconclusive as stocks turned in a mixed performance on Tuesday and ended on opposite sides of the unchanged line.

The Dow dropped 222.19 points or 0.80 percent to finish at 27,463.19, while the NASDAQ gained 72.41 points or 0.64 percent to end at 11,431.35 and the S&P 500 sank 10.29 points or 0.20 percent to close at 3,390.68.

The ragged trade on Wall Street came on concerns about the recent spike in coronavirus cases as well as growing uncertainty about the prospects for a new stimulus bill.

Traders were also reacting to mixed economic data, with separate reports showing a jump in durable goods orders and an unexpected dip in consumer confidence.

Crude oil prices moved higher Tuesday, lifted by reports about evacuation of over 150 offshore facilities along the U.S. Gulf Coast due to Hurricane Zeta. West Texas Intermediate Crude oil futures for December ended higher by $1.01 or 2.6 percent at $39.57 a barrel.

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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