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Thursday, August 5, 2021
Stocks & Shares

Indonesia stock market ends lower

Indonesia-stock-market

The Jakarta Composite Index (JCI) finished lower following losses from the financial shares, cement companies and resource stocks

The Indonesia stock market has finished lower in consecutive trading days, sinking more than 120 points or 1.9 percent in that span. The Jakarta Composite Index now rests just above the 6,300-point plateau and it’s looking at another red light for Monday’s trade.

The global forecast for the Asian markets is mixed to lower on concerns about the coronavirus and uncertainty about additional stimulus. The European markets were slightly lower and the U.S. bourses were mixed and the Asian markets figure to split the difference.

The JCI finished sharply lower on Friday following losses from the financial shares, cement companies and resource stocks.

For the day, the index tanked 106.76 points or 1.66 percent to finish at 6,307.13 after trading between 6,283.31 and 6,428.50.

Among the actives, Bank Danamon Indonesia tanked 3.66 percent, while Bank Mandiri shed 0.69 percent, Bank CIMB Niaga dropped 1.00 percent, Bank Negara Indonesia fell 2.33 percent, Bank Central Asia rose 0.07 percent, Telkom Indonesia was down 2.59 percent, Astra International declined 1.47 percent, Indosat tumbled 2.67 percent, Indocement and Semen Indonesia both sank 0.82 percent, Indofood Suskes retreated 1.48 percent, Astra Agro Lestari skidded 1.48 percent, Aneka Tambang plummeted 6.80 percent, Vale Indonesia lost 5.95 percent, Timah cratered 6.78 percent and Bumi Resources plunged 6.60 percent.

The lead from Wall Street is murky as stocks opened sharply lower on Friday but rebounded to finish mixed and little changed.

The Dow shed 179.03 points or 0.57 percent to finish at 30,996.98, while the NASDAQ rose 12.15 points or 0.09 percent to end at 13,543.06 and the S&P 500 fell 11.60 points or 0.30 percent to close at 3,841.47. For the week, the Dow added 0.6 percent, the NASDAQ jumped 4.2 percent and the S&P rose 1.9 percent.

The lower open on Wall Street came on profit taking following recent gains, as well as uncertainty about President Joe Biden’s proposed $1.9 trillion coronavirus relief package.

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