Expected rebound for Indonesian stock market

(RTTNews) – Indonesia’s stock market headed south again on Monday, one session after ending a two-day rout that saw it fall nearly 20 shares, or 0.3 percent. The Jakarta Composite Index is now firmly above the plateau of 7015 points, even if it is assumed that it is expected to start in the inexperienced on Tuesday. The global outlook for Asian markets is clouded, with improvement in oil companies likely to be offset by weakness in ability stocks. European markets fell, while US stocks were mostly higher, with Asian markets determined to split the difference. The JCI fell sharply on Monday after losses in the cement and financials sectors, while resource stocks were mixed. During the day, the index fell 71.99 parts or 1.02 percent to settle at 7,016.88 after trading between 6,986.59 and 7,089.57. Among actives, Bank CIMB Niaga slipped 1.16 percent, while Bank Mandiri fell 1.34 percent, Bank Danamon Indonesia fell 0.40 percent, Bank Negara Indonesia fell 3.22 percent, Bank Central Asia lost 0.51 percent, Bank Rakyat Indonesia fell 3.99 percent, Bank Maybank Indonesia fell 0.98 pc, Indosat Ooredoo Hutchison fell rose 0.42pc, Indocement tanked 3.17pc, Semen Indonesia stumbled 2.01pc, United Tractors climbed 1.20pc, Astra World fell 3.06pc, Energi Mega Persada strengthened by 2.48 pc, Astra Agro Lestari strengthened by 1.69 pc, Aneka Tambang developed by 1.02 pc, Jasa Marga fell by 2.00pc, Timah rose 3.88pc, Bumi Resources fell 4.10pc and Indofood Sukses Makmur and Vale Indonesia were flat.

The guidance from Wall Road is mixed to bullish as the most prominent averages opened on the backs of the unchanged line on Monday and were hit the same way.

The Dow rose 359.95 points, or 0.86 percent, to settle at 42,298.40, while the NASDAQ fell 74.01 points, or 0.39 percent, to 19,087.62 and the S&P 500 rose by 8.27 parts or 0.14 percent to the full value at 5,835.31.

A weak spot in the tech sector weighed on Wall Road early in the session, with AI darling and market leader Nvidia (NVDA) down as much as 4.7 percent.

Continued concerns about the outlook for hobby interest rates added to the bearish sentiment after Friday’s excellent monthly jobs report, which was stronger than expected.

Selling stress eased due to the direction of the trading session, while some traders managed to acquire stocks in lower ranges as the S&P 500 rebounded from its intraday low in more than two months.

Oil prices rallied to a 5-month high on Monday on likely supply risks after the US imposed sweeping sanctions on oil exports from Russia, while a stronger dollar weighed further. West Texas Intermediate crude futures for February were up $2.25, or nearly 3 percent, at $78.82 a barrel.

The views and opinions expressed herein are those of the author and do not primarily reflect those of Nasdaq, Inc.