Indonesia Stock Market To Remain Rangebound On Tuesday
(RTTNews) - The Indonesia stock market bounced higher again on Monday, one session after ending the two-day winning streak in which it had picked up almost 100 points or 1.2 percent. The Jakarta Composite Index now sits just above the 8,275-point plateau and it's likely to see little movement on Tuesday.
The global forecast for the Asian markets is murky, with technology stocks expected to provide a slight bump. The European and U.S. markets were mixed and little changed and the Asian bourses figure to follow suit.
The JCI finished sharply higher on Monday following gains from the financial shares, telecoms and cement companies, while the food and resource stocks were soft.
For the day, the index climbed 111.21 points or 1.36 percent to finish at 8,275.08 after trading between 8,201.36 and 8,282.16.
Among the actives, Bank CIMB Niaga rose 0.29 percent, while Bank Mandiri collected 0.85 percent, Bank Danamon Indonesia sank 0.78 percent, Bank Negara Indonesia climbed 1.14 percent, Bank Central Asia rallied 1.47 percent, Bank Rakyat Indonesia expanded 1.51 percent, Indosat Ooredoo Hutchison spiked 2.12 percent, Indocement vaulted 2.40 percent, Semen Indonesia strengthened 1.45 percent, Indofood Sukses Makmur stumbled 2.70 percent, United Tractors improved 1.39 percent, Astra International accelerated 3.25 percent, Energi Mega Persada skyrocketed 7.27 percent, Vale Indonesia plunged 4.21 percent, Timah plummeted 6.37 percent, Bumi Resources lost 0.70 percent and Astra Agro Lestari and Aneka Tambang were unchanged.
The Dow dropped 226.19 points or 0.48 percent to finish at 47,336.68, while the NASDAQ climbed 109.77 points or 0.46 percent to close at 23,834.72 and the S&P 500 rose 11.77 points or 0.17 percent to end at 6,851.97.
The gain by the tech-heavy NASDAQ reflected a sharp increase by shares of Amazon (AMZN) after it announced a $38 billion agreement with OpenAI. Market leader Nvidia (NVDA) also rallied after software giant Microsoft (MSFT) revealed it has secured export licenses to ship Nvidia chips to the United Arab Emirates.
On the other hand, shares of Merck (MRK) weighed on the Dow, as did Nike (NKE), 3M (MMM) and Chevron (CVX).
In U.S. economic news, the Institute for Supply Management said manufacturing activity unexpectedly contracted at a slightly faster rate in October.
Crude oil prices edged slightly higher on Monday after OPEC agreed to halt production hikes for the first quarter of 2026. West Texas Intermediate crude for December delivery was up $0.07 or 0.11 percent at $61.05 per barrel.
