Indonesia Bourse Poised To Halt Slide

(RTTNews) - The Indonesia stock market has moved lower in two straight sessions, slipping more than 25 points or 0.4 percent along the way. The Jakarta Composite Index now rests just above the 6,785-point plateau although it figures to stop the bleeding on Friday.

The global forecast for the Asian markets is upbeat thanks to easing concerns over inflation and interest rates. The European and U.S. markets were up and the Asian bourses are expected to open in similar fashion.

The JCI finished slightly lower on Thursday following losses from the cement and resource stocks, while the financials came in mixed.

For the day, the index lost 13.37 points or 0.20 percent to finish at 6,785.60.

Among the actives, Bank CIMB Niaga lost 0.38 percent, while Bank Mandiri shed 0.49 percent, Bank Danamon Indonesia climbed 1.08 percent, Bank Negara Indonesia perked 0.27 percent, Bank Central Asia collected 0.28 percent, Bank Rakyat Indonesia improved 1.01 percent, Indosat Ooredoo Hutchison retreated 1.49 percent, Indocement tumbled 1.92 percent, Semen Indonesia declined 1.61 percent, United Tractors lost 0.64 percent, Energi Mega Persada rallied 2.56 percent, Astra Agro Lestari sank 0.71 percent, Aneka Tambang advanced 0.95 percent, Vale Indonesia skidded 1.16 percent, Timah plummeted 3.47 percent, Bumi Resources stumbled 1.65 percent and Astra International and Indofood Suskes were unchanged.

The lead from Wall Street is solid as the major averages opened slightly higher on Thursday but accelerated as the day progressed, ending near session highs.

The Dow surged 383.19 points or 1.14 percent to finish at 34,029.69, while the NASDAQ spiked 236.93 points or 1.99 percent to end at 12,166.27 and the S&P 500 jumped54.27 points or 1.33 percent to close at 4,146.22.

The rally on Wall Street came following a report from the Labor Department showing an unexpected decrease in U.S. producer prices in March.

Combined with Wednesday's tamer-than-expected consumer price inflation data, the report helped ease concerns about inflation and the outlook for interest rates.

A separate Labor Department report showed first-time claims for U.S. unemployment benefits rose more than expected last week.

Crude oil prices drifted lower Thursday as weak data and worries about a U.S. recession raised concerns about the outlook for oil demand. West Texas Intermediate Crude oil futures for May slumped $1.10 or 1.3 percent at $82.16 a barrel.