Indonesia Bourse May Give Up 6,600-Point Level

RTTNews | 13h 58min ago
Indonesia Bourse May Give Up 6,600-Point Level

(RTTNews) - The Indonesia stock market turned lower again on Thursday, one day after ending the two-day slide in which it had dropped almost 85 points or 1.3 percent. The Jakarta Composite Index now sits just beneath the 6,650-point plateau and it may take further damage on Friday.

The global forecast for the Asian markets is soft thanks to ongoing tariff concerns and their effect on the world economy. The European and U.S. markets were down and the Asian bourses are expected to follow that lead.

The JCI finished modestly lower on Thursday following losses from the financial shares, food stocks and resource companies.

For the day, the index shed 17.63 points or 0.26 percent to finish at 6,647.42 after trading between 6,618.54 and 6,707.39.

Among the actives, Bank CIMB Niaga skidded 1.19 percent, while Bank Mandiri tanked 2.87 percent, Bank Danamon Indonesia retreated 1.62 percent, Bank Negara Indonesia slipped 0.22 percent, Bank Central Asia tumbled 1.64 percent, Bank Rakyat Indonesia declined 2.31 percent, Bank Maybank Indonesia and Timah both shed 0.51 percent, Indocement rallied 2.78 percent, Semen Indonesia lost 0.43 percent, Indofood Sukses Makmur weakened 2.34 percent, United Tractors slumped 1.28 percent, Astra International contracted 1.66 percent, Energi Mega Persada stumbled 2.26 percent, Astra Agro Lestari surrendered 1.73 percent, Aneka Tambang lost 0.65 percent, Jasa Marga dropped 1.02 percent, Vale Indonesia sank 0.78 percent, Bumi Resources plunged 3.09 percent and Indosat Ooredoo Hutchison was unchanged.

The lead from Wall Street is negative as the major averages opened in the red and continued to track lower throughout the session.

The Dow tumbled 537.36 points or 1.30 percent to finish at 40,813.57, while the NASDAQ dropped 345.44 points or 1.96 percent to close at 17.303.01 and the S&P 500 sank 77.78 points or 1.39 percent to end at 5,521.52.

The sell-off on Wall Street came amid ongoing concerns about President Donald Trump's trade policies after he suggested the U.S. would respond to the European Union's countermeasures with even more tariffs.

In economic news, the Labor Department said producer prices in the U.S. were unexpectedly flat in February. Also, the Labor Department unexpectedly saw a modest decrease by first-time claims for U.S. unemployment benefits last week.

Oil prices fell on Thursday amid prospects of excess supply in the market, and on concerns about the outlook for demand. West Texas Intermediate Crude oil futures for April ended lower by $1.13 or 1.7 percent at $66.55 a barrel.

read more
BMW Q4 Results Down, Cuts Dividend; Sees Flat Earnings, Higher Volume In FY25

BMW Q4 Results Down, Cuts Dividend; Sees Flat Earnings, Higher Volume In FY25

German luxury automaker BMW Group reported Friday lower profit and revenues in its fourth quarter hit mainly by weak Automotive deliveries, despite growth in Rolls-Royce. The company also trimmed its dividend, and issued fiscal 2025 outlook, expecting stable Group earnings before taxes, but slight growth in sales volume amid continuing subdued demand in the Chinese market.
RTTNews | 4h 12min ago
Pound Slides On Weak UK GDP Data

Pound Slides On Weak UK GDP Data

The British pound weakened against most major currencies in the European session on Friday, after U.K. economy logged an unexpected contraction at the start of the year on a sharp fall in production.
RTTNews | 4h 21min ago
CAC Moderately Higher In Cautious Trade

CAC Moderately Higher In Cautious Trade

French stocks are up in positive territory a little past noon on Friday, led by gains financials and luxury sectors. The mood remains cautious amid escalating trade war tensions. Slight optimism about a ceasefire in Ukraine is aiding sentiment.
RTTNews | 4h 38min ago
DAX Climbs Higher; Adidas, Daimler Among Notable Gainers

DAX Climbs Higher; Adidas, Daimler Among Notable Gainers

German stocks are up firmly in positive territory a little past noon on Friday, despite rising trade tensions, and uncertainty surrounding the nation's spending plans. Investors are digesting the nation's inflation data and some corporate earnings updates.
RTTNews | 5h 6min ago
UK Economy Contracts Unexpectedly On Weaker Production

UK Economy Contracts Unexpectedly On Weaker Production

The UK economy logged an unexpected contraction at the start of the year on a sharp fall in production, official data revealed on Friday. Gross domestic product shrank 0.1 percent on a monthly basis in January, following a growth of 0.4 percent in December, the Office for National Statistics reported. GDP was expected to grow 0.1 percent.
RTTNews | 6h 46min ago
Asian Shares Advance As US Shutdown Worries Ease

Asian Shares Advance As US Shutdown Worries Ease

Asian stocks ended mostly higher on Friday after U.S. Senate Minority Leader Chuck Schumer said he plans to vote for a Republican bill to fund the government through September, helping ease worries about a potential federal government shutdown.
RTTNews | 6h 52min ago