(RTTNews) – The Indonesia stock market on Thursday ended the eight-day winning streak in which it had rallied more than 210 points or 3.2 percent. The Jakarta Composite Index now rests just above the 6,825-point plateau although it may find renewed support on Friday.
The global forecast for the Asian markets is upbeat on easing trade concerns. The European and U.S. markets were mostly higher and the Asian bourses figure to follow that lead.
The JCI finished sharply lower on Thursday following losses from the financial shares, telecoms and resource stocks.
For the day, the index tumbled 98.48 points or 1.42 percent to finish at 6,827.75 after trading between 6,824.65 and 6,965.93.
Among the actives, Bank CIMB Niaga dropped 0.87 percent, while Bank Mandiri tanked 3.23 percent, Bank Danamon Indonesia fell 0.42 percent, Bank Negara Indonesia shed 0.96 percent, Bank Central Asia declined 1.10 percent, Bank Rakyat Indonesia tumbled 3.07 percent, Indosat Ooredoo Hutchison crashed 4.36 percent, Indocement advanced 0.99 percent, Semen Indonesia sank 0.80 percent, Indofood Sukses Makmur rose 0.32 percent, United Tractors slumped 1.26 percent, Astra International skidded 1.04 percent, Energi Mega Persada surrendered 2.94 percent, Astra Agro Lestari retreated 1.66 percent, Aneka Tambang plunged 5.09 percent, Vale Indonesia stumbled 3.16 percent, Timah plummeted 6.17 percent and Bumi Resources jumped 1.82 percent.
The lead from Wall Street is positive as the major averages opened higher on Thursday and remained firmly in the green throughout the trading day.
The Dow jumped 254.48 points or 0.62 percent to finish at 41,368.45, while the NASDAQ rallied 189.98 points or 1.07 percent to close at 17,928.14 and the S&P 500 gained 32.66 points or 0.58 percent to end at 5,663.94.
The strength on Wall Street came after President Donald Trump unveiled the framework of a trade agreement with the U.K.
Trump claimed the deal includes billions of dollars of increased market access for American exports, especially in agriculture, and will see the U.K. reduce or eliminate numerous non-tariff barriers.
In economic news, the Labor Department said first-time claims for U.S. unemployment benefits saw a modest decline last week. Also, the Labor Department noted a pullback by U.S. labor productivity in the first quarter of 2025 along with a sharp increase by unit labor costs.
Crude oil futures rallied on Thursday following news of the trade agreement between the United States and Great Britain. West Texas Intermediate crude for June delivery surged $1.84 or 3.2 percent to $59.91 a barrel.
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