Lower Open Called For Indonesia Stock Market

(RTTNews) - The Indonesia stock market has moved higher in three straight sessions, expanding almost 360 points or 4.5 percent along the way. The Jakarta Composite Index now sits just above the 8,290-point plateau although it's due for consolidation on Thursday.

The global forecast for the Asian markets is soft on fading optimism over the outlook for interest rates. The European markets were mixed and the U.S. bourses were slightly lower and the Asian markets figure to split the difference.

The JCI finished sharply higher on Wednesday following gains from the resource, food, cement and telecom sectors, while the financials were mixed.

For the day, the index jumped 159.23 points or 1.96 percent to finish at the daily high of 8,290.97 after trading as low as 8,118.16.

Among the actives, Bank CIMB Niaga fell 0.26 percent, while Bank Mandiri retreated 1.47 percent, Bank Danamon Indonesia collected 0.38 percent, Bank Negara Indonesia shed 0.67 percent, Bank Central Asia and Astra Agro Lestari both lost 0.33 percent, Bank Rakyat Indonesia added 0.53 percent, Indosat Ooredoo Hutchison gained 0.45 percent, Indocement rose 0.38 percent, Semen Indonesia climbed 1.07 percent, Indofood Sukses Makmur tanked 2.90 percent, United Tractors rallied 3.55 percent, Astra International slumped 1.46 percent, Energi Mega Persada skyrocketed 9.29 percent, Aneka Tambang spiked 2.57 percent, Vale Indonesia surged 7.87 percent, Timah soared 13.39 percent and Bumi Resources vaulted 9.68 percent.

The lead from Wall Street is weak as the major averages opened higher but quickly headed south and hugged the line for the balance of the day, finally ending slightly under water.

The Dow shed 66.74 points or 0.13 percent to finish at 50,121.40, while the NASDAQ slumped 36.01 points or 0.16 percent to close at 23.066.47 and the S&P 500 eased 0.34 points or 0.00 percent to end at 6,941.47.

The initial strength on Wall Street followed the release of a closely watched Labor Department report showing employment in the U.S. increased more than expected in January.

However, the report also showed a significant downward revision to job growth in 2025, with the increase in employment revised to 181,000 jobs from 584,000 jobs.

The stronger-than-expected job growth in January may also have reduced the likelihood of near-term interest rate cuts by the Federal Reserve, offsetting the initial positive reaction.

Crude oil prices climbed on Wednesday amid heightening tension between the U.S. and Iran, with Israel's intervention exacerbating the standoff. West Texas Intermediate crude for March delivery was up $0.57 or 0.89 percent at $64.53 per barrel.