The Indonesian stock market rebounded on Tuesday, recovering from a brief interruption that followed a three-day winning streak during which it gained over 100 points, or 1.3 percent. The Jakarta Composite Index (JCI) now sits slightly above the 7,760-point mark, although it may decline again on Wednesday.The global forecast for Asian markets is mixed and indicates a flat trajectory ahead of crucial inflation data due later this week. European markets retreated, while U.S. equities had a mixed performance, suggesting Asian markets might follow the latter trend.The JCI posted a moderate gain on Tuesday, buoyed by advances in food sector stocks and mixed results in financial and resource sectors.On the day, the JCI gained 58.65 points or 0.76 percent, ending at 7,761.39 after fluctuating between 7,723.30 and 7,764.78.Noteworthy performances included Bank CIMB Niaga, which surged 3.17 percent, while Bank Negara Indonesia declined 0.44 percent. Bank Central Asia rose 0.73 percent, Bank Rakyat Indonesia increased by 1.45 percent, and Indosat Ooredoo Hutchison added 0.46 percent. Indofood Sukses Makmur jumped 1.81 percent, though United Tractors dipped by 2.02 percent, and Jasa Marga fell by 2.57 percent. Vale Indonesia saw a 0.55 percent decline, Timah gained 0.52 percent, and stocks of Bumi Resources, Astra International, Bank Mandiri, Bank Danamon Indonesia, Bank Maybank Indonesia, Astra Agro Lestari, Indocement, Semen Indonesia, Aneka Tambang, and Energi Mega Persada remained unchanged.Wall Street’s indicators suggest cautious optimism as major indexes experienced mixed results on Tuesday, fluctuating before settling on opposite sides.The Dow Jones Industrial Average dropped 92.63 points or 0.23 percent to 40,736.96. Conversely, the NASDAQ climbed 141.28 points or 0.84 percent to close at 17,025.88, and the S&P 500 increased by 24.47 points or 0.45 percent to finish at 5,495.52.The trading day’s volatility stemmed from anticipation of upcoming consumer and producer price inflation data releases on Wednesday and Thursday, respectively, which could influence interest rate expectations ahead of the Federal Reserve’s monetary policy meeting next week.The Federal Reserve is widely expected to lower interest rates next week, though there is ongoing debate about whether the cut will be 25 or 50 basis points.Crude oil prices tumbled on Tuesday due to concerns about inflation data and the global economic outlook. West Texas Intermediate crude for October delivery fell $2.43, or 3.54 percent, closing at $66.28 per barrel.The material has been provided by InstaForex Company – www.instaforex.com
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