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.
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Indonesia's Stock Market Eyes Recovery After Friday Dip
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.