Indonesia Stock Market May Reverse Wednesday's Losses
(RTTNews) - The Indonesia stock market on Wednesday ended the five-day winning streak in which it had spiked almost 220 points or 4.5 percent. The Jakarta Composite Index now sits just above the 5,115-point plateau although it's likely to rebound again on Thursday.
The global forecast for the Asian markets is positive, with technology and energy stocks expected to lead the way higher. The European and U.S. markets were up and the Asian bourses are expected to follow that lead.
The JCI finished slightly lower on Wednesday following losses from the financial, resource and infrastructure companies.
For the day, the index slipped 10.69 points or 0.21 percent to finish at 5,115.04 after trading between 5,086.02 and 5,144.79.
The lead from Wall Street is firm as the major averages opened mixed on Wednesday but trended to the upside throughout the day, finishing firmly in the green.
The Dow gained 254.60 points or 0.49 percent to finish at 52,486.49, while the NASDAQ rallied 400.31 points or 1.60 percent to end at 25,466.19 and the S&P 500 jumped 98.45 points or 1.31 percent to close at 7,619.38.
Technology stocks have helped lead the markets back to upside amid a positive reaction to better-than-expected quarterly results from neocloud company CoreWeave (CRWV).
Semiconductor stocks showed a strong move to the upside, driving the Philadelphia Semiconductor Index up by 5.7 percent, while energy stocks also provided support.
Crude oil prices advanced on Wednesday after strong remarks by Iranian leaders against the U.S. diminished expectations of an early reopening of the Strait of Hormuz. West Texas Intermediate crude for December delivery was up $0.96 or 1.12 percent at $87.00 per barrel.
Australian Market Extends Early Losses In Mid-market
Asian Markets Track Wall Street Higher
Indian Shares Likely To Open On Muted Note After Recent Rally
Higher Open Called For Thai Stock Market
Japanese Market Modestly Higher
Rebound Anticipated For Hong Kong Stock Market
Australian Market Notably Lower
