Indonesian stocks could find ground on Friday

(RTTNews) – Indonesia’s stock market ended lower in consecutive sessions, falling almost 55 points or 0.8 percent along the way. The Jakarta Composite Index now sits just above the plateau of 7,140 points, although it could stop the bleeding on Friday.

Global forecasts for Asian markets are optimistic thanks to strong results and support from crude oil. European and American markets finished higher and Asian stock markets are expected to continue this trend.

The JCI ended slightly lower on Thursday following losses in financial stocks and cement companies and a mixed performance in resource stocks.

For the day, the index fell 39.42 points or 0.55 percent to end at the daily low of 7,140.91 after peaking at 7,209.36.

Among assets, Bank CIMB Niaga fell 1.69 percent, while Bank Mandiri fell 1.20 percent, Bank Negara Indonesia fell 2.68 percent, Bank Central Asia gave up 2.24 percent. cent, Bank Rakyat Indonesia fell 1.85 percent, Bank Maybank Indonesia fell 0.92 percent, Indosat Ooredoo Hutchison jumped. 5.04 percent, Semen Indonesia lost 0.55 percent, Indofood Sukses Makmur fell 2.24 percent, United Tractors advanced 0.95 percent, Astra International stumbled 2.20 percent, Astra Agro Lestari fell 0.40 percent, Aneka Tambang rebounded 1.36 percent, Jasa Marga added 0.44 percent, Vale Indonesia skidded 1.08 percent, Timah plunged 2.26 percent, Bumi Resources fell 2.72 percent and Bank Danamon Indonesia, Indocement and Energi Mega Persada remained unchanged.

Wall Street’s lead is positive since the main averages opened slightly lower on Thursday, but gradually increased and finished in the green.

The Dow rose 461.88 points or 1.06 percent to end at 43,870.35, while the NASDAQ rose 6.28 points or 0.03 percent to close at 18,972.42 and the S&P 500 advanced 31.60 points or 0.53 percent to finish at 5,948.71.

The Dow’s sharp rise came amid strong gains in IBM Corp. (IBM), Sherwin-Williams (SHW) and Salesforce (CRM).

The NASDAQ showed a lack of direction as traders tracked the performance of AI darling Nvidia (NVDA), which reported better-than-expected third-quarter earnings and revenue – but some traders expressed concerns about the slowdown in revenue growth.

In U.S. economic news, the Labor Department said last week that initial jobless claims unexpectedly fell to their lowest level in more than six months. Additionally, the Conference Board’s leading economic index fell more than expected in October.

Oil prices climbed Thursday as escalating geopolitical tensions due to the ongoing war between Russia and Ukraine offset recent data showing robust supply in the market. West Texas Intermediate crude oil futures for December closed up $1.35 or 1.96 percent at $70.10 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.