The Indonesian stock market ended its two-day winning streak on Thursday, jumping nearly 75 points, or 1.5. The Jakarta Composite Index is now just above the 5,280 plateau and losses could rise on Friday.
The global outlook for Asian markets is broadly negative, with oil and technology stocks anticipating a lower lead after the sharp gains in recent weeks. European and American markets retreated with Asian markets being the number to follow.
JCI remained slightly lower on Thursday after losses from cement companies and the mixed performance of financial stocks and resource stocks.
The index closed today 31.16 points, or 0.59 percent, at 5,280.81, after trading between 5,242.17 and 5,331.17.
Among the measures, Danamon Bank Indonesia recorded a decrease of 1.90%, while Bank Mandiri 1.65%, CIMB Niaga 0.61%, Bank Negara Indonesia 2.39%, Indosat 1.39%, Industries 3.86%, and Liquid Seminal in Indonesia. By 1.64 percent. And it fell 0.32 percent, Astra Agro Listeria 1.82 percent, Wanaka Tambang 2.35 percent, Indonesia Valley 1.76 percent, Temah 0.61 percent, and Bumi Resources 4.00 percent.
Wall Street’s leadership is strongly negative as stocks fell on Thursday, a major move as investors exchanged recent gains.
The Dow Jones index fell 807.77 points, or 2.78 percent, to close at 28,292.73, while the Nasdaq index fell 598.34 points, or 4.96 percent, to 11,458.10, and the Standard & Poor’s 500 indexes fell 125.78 points, or 3.51 percent, to 3455.06.
The sell-off on Wall Street largely reversed the gains as traders were looking to take advantage of the recent strength in the markets. The stock has been moving higher for the past several weeks, leading some analysts to believe that the markets have suggested a recovery.
In a notable comeback from recent sessions, tech stocks led the lower markets, as evidenced by the original stocks introduced by Nasdaq.
In economic news, the Labor Department said that first-time claims for US unemployment benefits fell more than last week. Additionally, the Institute of Supply Management saw a slight slowdown in the pace of growth in service sector activities in August.
Crude oil prices retreated after the initial decline on Thursday, but remain in the red amid concerns about the pace of the economic recovery and the outlook for energy demand. West Texas Intermediate crude futures fell $ 0.14, or 0.3 percent, to close at $ 41.37 a barrel in October.