The Indonesia stock market has finished lower in five straight sessions, tumbling more than 210 points or 3 percent along the way. The Jakarta Composite Index now rests just beneath the 6,290-point plateau, and it's expected to open under pressure again on Tuesday.
The global forecast for the Asian markets is broadly negative thanks to ongoing fears of a trade war, the outlook for interest rates and a drop in crude oil prices. The European and U.S. markets were sharply lower and the Asian bourse figure to follow suit.
The JCI finished slightly lower on Monday following mixed performances from the foods, financials and resource stocks.
For the day, the index sank 15.38 points or 0.24 percent to finish at 6,289.57 after trading between 6,277.76 and 6,319.65.
Among the actives, Bukit Darmo Property skyrocketed 34.09 percent, while Tiga Pilar Sejahtera Food plunged 5.47 percent, Indofood gained 0.86 percent, XL Axiata soared 4.00 percent, Lotte Chemical tumbled 3.64 percent, Voksel Electric skidded 3.48 percent, Bank Pan Indonesia dropped 1.77 percent, Jasa Marga advanced 0.62 percent, Bank Danamon Indonesia jumped 1.45 percent, Bank Mandiri climbed 1.89 percent, Vale Indonesia plummeted 5.23 percent, Astra Agro Lestari added 0.19 percent and Bank MNC Internasional and Bumi Resources were unchanged.
The lead from Wall Street is weak as stocks moved sharply lower on Monday, extending last week's losses.
The Dow shed 335.60 points or 1.35 percent to 24,610.91, while the NASDAQ lost 137.74 points or 1.84 percent to 7,344.24 and the S&P fell 39.09 points or 1.42 percent to 2,712.92.
The sell-off reflected lingering concerns about a potential trade war as well as political uncertainty following recent developments in Washington. Traders are also looking ahead to the Federal Reserve's monetary policy announcement on Wednesday.
With the Fed widely expected to raise interest rates by 25 basis points, traders will keep an eye on the accompanying statement for clues about the outlook for future rate hikes. New Fed Chairman Jerome Powell's first press conference as head of the central bank is also likely to attract considerable attention.
A steep drop by social media giant Facebook (FB) was a heavy drag on the technology sector, while telecoms, energy, computer hardware and steel stocks also fell under pressure.
Crude oil futures fell along with U.S. stocks Monday as traders fretted over a litany of defections and firings from the Trump Administration. WTI light sweet oil was down 28 cents or 0.5 percent to settle at $62.06/bbl.
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