Indonesia Shares May Bounce Higher Again On Friday

(RTTNews) - The Indonesia stock market headed south again on Thursday, one day after snapping the three-day slide in which it had stumbled more than 65 points or 0.9 percent. The Jakarta Composite Index now rests just above the 7,020-point plateau although it may see renewed support on Friday.

The global forecast for the Asian markets is mixed and flat ahead of key U.S. employment data later in the day. The European and U.S. bourses were mixed and little changed and the Asian bourses are tipped to follow suit.

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

For the day, the index sank 60.51 points or 0.85 percent to finish at 7,020.80.

Among the actives, Bank Danamon Indonesia shed 0.66 percent, while Bank CIMB Niaga surged 4.72 percent, Bank Negara Indonesia tumbled 2.02 percent, Bank Central Asia plunged 3.23 percent, Bank Mandiri skidded 1.19 percent, Bank Rakyat Indonesia dropped 0.80 percent, Indosat Ooredoo Hutchison retreated 1.68 percent, Indocement added 0.50 percent, Semen Indonesia strengthened 1.32 percent, Indofood Suskes soared 3.49 percent, United Tractors lost 0.41 percent, Astra International rallied 2.07 percent, Energi Mega Persada accelerated 2.96 percent, Astra Agro Lestari rose 0.30 percent, Aneka Tambang spiked 2.77 percent, Vale Indonesia slumped 1.02 percent, Bumi Resources climbed 1.10 percent and Timah was unchanged.

The lead from Wall Street is murky as the major averages were unable to hold early gains on Thursday, with only the NASDAQ able to break back into the green.

The Dow stumbled 194.76 points or 0.56 percent to finish at 34,395.01, while the NASDAQ added 14.45 points or 0.13 percent to close at 11,482.45 and the S&P 500 eased 3.54 points or 0.09 percent to end at 4,076.57.

The lack of direction shown by the broader markets came as traders looked ahead to the Labor Department's closely watched monthly jobs report later today.

The data could affect the outlook for interest rates, although the impact may be somewhat muted following Federal Reserve Chair Jerome Powell's remarks on Wednesday hinting at a slowdown in the pace of rate hikes as soon as next month.

In economic news, the Institute for Supply Management said manufacturing activity contracted for the first time in over two years in November. Also, the Labor Department said first-time claims for U.S. unemployment benefits pulled back by more than expected last week.

Crude oil futures settled higher Thursday on easing concerns about the outlook for energy demand, while a weaker dollar amid rising prospects of smaller rate hikes by the Fed also contributed to the increase in oil prices. West Texas Intermediate Crude oil futures for January gained $0.67 or 0.8 percent at $81.22 a barrel.