Indonesia Stock Market Likely To Open Under Pressure

RTTNews | vor 1001 Tagen
Indonesia Stock Market Likely To Open Under Pressure

(RTTNews) - The Indonesia stock market has tracked lower in three straight sessions, surrendering almost 200 points or 2.9 percent along the way. The Jakarta Composite Index now rests just beneath the 7,000-point plateau and it may take further damage on Tuesday.

The global forecast for the Asian markets is broadly negative on fears of an economic slowdown and concerns over the outlook for interest rates. The European and U.S. markets were sharply lower and the Asian markets are expected to follow that lead.

The JCI finished sharply lower on Monday following losses from the financial shares, cement companies and resource stocks.

For the day, the index dropped 91.21 points or 1.29 percent to finish at 6,995.44 after trading between 6,924.95 and 6,996.71.

Among the actives, Bank Danamon Indonesia tumbled 3.60 percent, while Bank CIMB Niaga declined 1.44 percent, Bank Negara Indonesia dipped 0.60 percent, Bank Mandiri dropped 0.92 percent, Bank Rakyat Indonesia weakened 1.36 percent, Indosat retreated 1.89 percent, Indocement surrendered 2.66 percent, Semen Indonesia plummeted 5.07 percent, Indofood Suskes shed 0.73 percent, United Tractors plunged 4.74 percent, Astra International jumped 1.44 percent, Energi Mega Persada gave away 4.26 percent, Bakrie Sumatera Plantations fell 2.48 percent, Astra Agro Lestari stumbled 1.59 percent, Aneka Tambang skidded 1.31 percent, Vale Indonesia slumped 2.70 percent, Timah cratered 4.66 percent, Bumi Resources lost 3.45 percent and Bank Central Asia was unchanged.

The lead from Wall Street is brutal as the major averages opened sharply lower on Monday and only got worse as the day progressed, ending deep in the red.

The Dow plummeted 876.05 points or 2.79 percent to finish at 30,516 billion baht, while the NASDAQ plunged 530.80 points or 4.68 percent to close at 10,809.23 and the S&P 500 dropped 151.23 points or 3.88 percent to close at 3,749.63.

The extended sell-off on Wall Street reflected lingering concerns about inflation and the outlook for interest rates after last Friday's report showing a jump in consumer prices.

The Federal Reserve is scheduled to announce its latest monetary policy decision on Wednesday, with the central bank expected to continuing raising interest rates in an effort to combat inflation.

While the Fed's rate hikes have been widely anticipated for months, traders seem increasingly concerned tighter monetary policy could trigger a period of stagflation or an outright recession.

Crude oil futures rebounded from early losses and settled modestly higher on Monday as concerns about global supplies outweighed demand worries. West Texas Intermediate Crude oil futures for July ended higher by $0.26 or 0.2 percent at $120.93 a barrel.

read more
Asian Markets A Sea Of Red

Asian Markets A Sea Of Red

Asian stock markets are a sea of red on Tuesday, following the broadly negative cues from Wall Street overnight, amid increasing worries the U.S. is headed for a recession and concerns over the health of the world economy following the likely impact of President Donald Trump's tariffs and trade policies. Asian markets closed mostly higher on Monday.
RTTNews | vor 5Std 46 Minuten
Australian Market Trims Early Losses In Mid-market

Australian Market Trims Early Losses In Mid-market

The Australian stock market is trimming its early losses in mid-market trading on Tuesday, but extending the losses in the previous session, following the broadly negative cues from Wall Street overnight. The benchmark S&P/ASX 200 is falling below the 7,900 level, with weakness is mining and technology stocks partially offset by gains in energy and financial stocks.
RTTNews | vor 6Std 18 Minuten
Lower Open Called For Thai Stock Market

Lower Open Called For Thai Stock Market

The Thai stock market has alternated between positive and negative finishes through the last six trading days since the end of the two-day slide in which it had tumbled almost 40 points or 3.2 percent. The Stock Exchange of Thailand now sits just above the 1,175-point plateau and it figures to see continued consolidation on Tuesday.
RTTNews | vor 7Std 3 Minuten
Losses May Accelerate For Indonesia Stock Market

Losses May Accelerate For Indonesia Stock Market

The Indonesia stock market on Monday ended the three-day winning streak in which it had surged more than 350 points or 5.4 percent. The Jakarta Composite Index now sits just beneath the 6,600-point plateau and it may extend its losses on Tuesday. The global forecast for the Asian markets is broadly negative on recession fears and concerns over the health of the world economy. The European and U.S. markets finished sharply lower and the Asian bourses are expected to open under pressure as well.
RTTNews | vor 7Std 33 Minuten
Japanese Market Sharply Lower, Down 2.6%

Japanese Market Sharply Lower, Down 2.6%

The Japanese stock market is trading sharply lower on Tuesday, reversing the gains in the previous session, following the broadly negative cues from Wall Street overnight, with the Nikkei 225 falling well below the 36,100 level, with weakness across most sectors led by index heavyweights, exporters and technology stocks.
RTTNews | vor 7Std 36 Minuten
Hong Kong Stock Market May Take Further Damage On Tuesday

Hong Kong Stock Market May Take Further Damage On Tuesday

The Hong Kong stock market has moved lower in consecutive trading days, stumbling almost 600 points or 2.6 percent along the way. The Hang Seng Index now rests just above the 23,780-point plateau and it figures to open under pressure again on Tuesday. The global forecast for the Asian markets is broadly negative on recession fears and concerns over the health of the world economy. The European and U.S. markets finished sharply lower and the Asian bourses are expected to open under pressure as well. The Hang Seng finished sharply lower on Monday following losses among the financial shares, property stocks and technology companies. For the day, the index plunged 447/81 points or 1.85 percent to finish at 23,783.49 after trading between 23,632.42 and 24,292.80. Among the actives, Alibaba Group stumbled 3.93 percent, while Alibaba Health Info surged 3.25 percent, ANTA Sports slumped 2.09 percent, China Life Insurance and CITIC both fell 0.63 percent, China Mengniu Dairy slid 0.42 percent, China Resources Land retreated 2.63 percent, CNOOC advanced 0.91 percent, CSPC Pharmaceutical sank 1.24 percent, Galaxy Entertainment shed 1.23 percent, Hang Lung Properties added 0.45 percent, Henderson Land eased 0.22 percent, Hong Kong & China Gas rose 0.32 percent, Industrial and Commercial Bank of China lost 0.89 percent, JD.com plunged 4.59 percent, Lenovo dropped 1.58 percent, Li Auto dipped 0.36 percent, Li Ning tanked 4.50 percent, Meituan plummeted 4.69 percent, New World Development soared 2.83 percent, Nongfu Spring declined 2.41 percent, Techtronic Industries skidded 1.65 percent, Xiaomi Corporation tumbled 2.76 percent and WuXi Biologics and Haier Smart Home were unchanged.
RTTNews | vor 7Std 48 Minuten