Indonesia Bourse May See Mild Upside On Friday

(RTTNews) - The Indonesia stock market has moved lower in two of three trading days since the end of the two-day winning streak in which it had gained almost 120 points or 1.6 percent. The Jakarta Composite Index now rests just above the 7,625-point plateau and it's likely to remain rangebound again on Friday.

The global forecast for the Asian markets suggests little movement ahead of key inflation data later in the day. The European markets were up and the U.S. bourses were mixed and flat and Asian markets are tipped to follow the latter lead.

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

For the day, the index shed 31.27 points or 0.41 percent to finish at the daily low of 7,627.60 after peaking at 7,715.76.

Among the actives, Bank CIMB Niaga slumped 1.32 percent, while Bank Mandiri tumbled 1.73 percent, Bank Danamon Indonesia fell 0.38 percent, Bank Negara Indonesia lost 1.40 percent, Bank Central Asia retreated 1.21 percent, Bank Rakyat Indonesia shed 0.49 percent, Bank Maybank Indonesia soared 3.45 percent, Indosat Ooredoo Hutchison tanked 2.82 percent, Indocement slid 0.35 percent, Indofood Sukses Makmur dipped 0.37 percent, United Tractors stumbled 1.35 percent, Astra International climbed 1.00 percent, Energi Mega Persada declined 1.96 percent, Astra Agro Lestari dropped 0.82 percent, Aneka Tambang sank 2.76 percent, Jasa Marga surrendered 2.30 percent, Vale Indonesia skidded 1.06 percent, Timah plummeted 3.40 percent, Bumi Resources plunged 4.30 percent and Semen Indonesia was unchanged.

The lead from Wall Street offers little guidance as the major averages opened higher on Thursday and spent much of the day solidly in the green - before a late slump saw them end mixed and little changed.

The Dow added 243.63 points or 0.59 percent to finish at a record 41,335.05, while the NASDAQ sank 39.60 points or 0.23 percent to close at 17,516.43 and the S&P 500 eased 0.22 points or 0.00 percent to end at 5,591.96.

The early strength on Wall Street partly reflected a positive reaction to the latest U.S. economic data, including a Commerce Department report showing the U.S. economy unexpectedly grew more than previously estimated in the second quarter.

A separate report from the Labor Department showed first-time claims for U.S. unemployment benefits edged slightly lower last week.

Buying interest waned in the latter part of the session, however, as traders looked ahead to the release of closely watched readings on consumer price inflation later today.

The downturn by the tech-heavy NASDAQ also came as shares of Nvidia (NVDA) slumped even though the company reported Q2 results that exceeded expectations and forecast fiscal third quarter revenues above estimates.

Oil prices settled sharply higher on Thursday on supply concerns amid reports Libya has shut off production and halted exports at several ports. West Texas Intermediate Crude oil futures for October climbed $1.39 or 1.87 percent at $75.91 a barrel.