Scan to Download Gate App
qrCode
More Download Options
Don't remind me again today

Indonesia's Stock Market Eyes Recovery After Friday Dip

robot
Abstract generation in progress

Indonesia’s benchmark Jakarta Composite Index took a breather on Friday, snapping a two-day rally that had gained nearly 60 points. The index dropped 5.57 points (0.07%) to close at 8,414.35, but traders are betting on a bounce-back Monday.

What Happened: Financials, telecoms, and resource stocks were the main drag. Bank Negara Indonesia fell 1.57%, while Indosat Ooredoo Hutchison tanked 3.74%. On the flip side, Vale Indonesia surged 3.41% and Semen Indonesia jumped 1.89%.

Why Monday Could Look Better: Wall Street finished strong Friday—the Dow popped 1.08%, S&P 500 gained 0.98%, and NASDAQ rallied 0.88%. The catalyst? Fed optimism. New York Fed President John Williams’ dovish comments sparked renewed hopes for rate cuts in December. Add in easing inflation expectations from the University of Michigan, and you’ve got a positive tailwind for Asian markets.

Oil Watch: Crude got hammered though. WTI slipped 1.46% to $58.14/barrel after Ukraine backed the U.S. peace plan for Ukraine-Russia, easing geopolitical tensions and oversupply concerns.

The Setup: The JCI still trades just below the 8,415 level and has fresh support ready. If Wall Street’s momentum carries over, we could see Asia—including Indonesia—ride the coattails on Monday.

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
0/400
No comments
  • Pin
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate App
Community
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)