The Indonesian stock market saw a rebound on Wednesday, following a temporary dip in its two-day winning streak during which it had gained nearly 70 points, equivalent to a 0.9 percent increase. The Jakarta Composite Index (JCI) is now positioned slightly above the 7,670-point mark, although another decline could be on the horizon come Thursday.The forecast for Asian markets globally implies minimal movement in anticipation of crucial U.S. unemployment data expected on Friday. While European markets experienced a downturn, U.S. stock exchanges had mixed and largely flat outcomes, which suggests that Asian markets might follow suit.On Wednesday, the JCI registered a modest rise, fueled by varying performances within the financial sectors and resource companies. Specifically, the index climbed by 56.38 points or 0.74 percent, closing at a daily high of 7,672.90 after dipping to 7,546.05 during the session.Key stock movements included:- Bank CIMB Niaga: Down 0.80%- Bank Mandiri: Up 1.41%- Bank Negara Indonesia: Down 0.47%- Bank Central Asia: Up 1.23%- Bank Rakyat Indonesia: Down 1.45%- Bank Maybank Indonesia: Down 1.69%- Indosat Ooredoo Hutchison: Up 5.12%- Indocement: Down 2.86%- Semen Indonesia: Down 1.24%- Indofood Sukses Makmur: Down 1.11%- United Tractors: Down 0.45%- Astra International: Down 1.46%- Energi Mega Persada: Down 1.94%- Astra Agro Lestari: Down 1.63%- Aneka Tambang: Down 1.82%- Jasa Marga: Down 0.48%- Vale Indonesia: Down 1.60%- Timah: Down 1.99%- Bumi Resources: Up 1.02%- Bank Danamon Indonesia: No changeMeanwhile, Wall Street provided little direction as its major averages opened mixed, remained near the flat line for much of the day, and closed with minimal changes. The Dow gained 38.04 points or 0.09 percent to close at 40,974.97, the NASDAQ lost 52.00 points or 0.30 percent to wrap up at 17,084.30, and the S&P 500 dipped 8.86 points or 0.16 percent to finish at 5,520.07.This lackluster performance reflects ongoing market uncertainty following recent volatility. Although there has been a significant rebound in stocks lately, persistent economic concerns continue to weigh on market sentiment.Oil prices also plummeted on Wednesday amid rising concerns about demand forecasts. Reports indicate that OPEC plans to reinstate 180,000 barrels per day of voluntary production cuts starting next month. Consequently, West Texas Intermediate (WTI) Crude oil futures for October dropped by $1.14, or 1.6 percent, settling at $69.20 a barrel, marking a nine-month low.The material has been provided by InstaForex Company – www.instaforex.com
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