Indonesia Bourse Tipped To Open Under Pressure On Friday

(RTTNews) - The Indonesia stock market on Thursday snapped the three-day slide in which it had given up more than 650 points or 7.2 percent. The Jakarta Composite Index now sits just above the 7,710-point plateau although it may spin its wheels on Friday.

The global forecast for the Asian markets is negative on growing concerns over surging energy prices. The European and U.S. markets were down and the Asian bourses are expected to open in similar fashion.

The JCI finished sharply higher on Thursday following gains from the financial, food, cement, telecom and resource sectors.

For the day, the index jumped 133.47 points or 1.76 percent to finish at 7,710.54 after trading between 7,678.53 and 7,765.61.

Among the actives, Bank CIMB Niaga rose 0.28 percent, while Bank Mandiri rallied 2.91 percent, Bank Danamon Indonesia jumped 1.91 percent, Bank Negara Indonesia accelerated 3.13 percent, Bank Central Asia spiked 3.27 percent, Bank Rakyat Indonesia collected 1.63 percent, Indosat Ooredoo Hutchison strengthened 2.75 percent, Indocement added 0.43 percent, Semen Indonesia soared 6.80 percent, Indofood Sukses Makmur expanded 1.63 percent, United Tractors vaulted 2.51 percent, Astra International advanced 2.85 percent, Energi Mega Persada tumbled 1.87 percent, Astra Agro Lestari climbed 2.81 percent, Aneka Tambang improved 1.98 percent, Vale Indonesia plunged 2.32 percent, Bumi Resources surged 2.56 percent and Timah was unchanged.

The lead from Wall Street is weak as the major averages opened lower on Thursday and spent all day in the red, although ending off session lows.

The Dow tumbled 784.67 points or 1.61 percent to finish at 47,954.74, while the NASDAQ sank 58.50 points or 0.26 percent to close at 22,748.99 and the S&P 500 lost 38.79 points or 0.56 percent to end at 6,830.71.

Concerns about the impact of sharply higher energy prices weighed on Wall Street, as the price of crude oil resumed the surge seen early in the week.

Crude oil prices skyrocketed again on Thursday, resuming the surge seen earlier in the week in reaction to the conflict in the Middle East. West Texas Intermediate crude for April delivery spiked $6.51 or 8.7 percent to $81.17 a barrel and has soared $14.15 or 21.1 percent so far this week.

Iran has claimed it struck a U.S. oil tanker in the northern Persian Gulf, raising fears of a wider conflict after the Islamic republic threatened to halt shipping through the vital Strait of Hormuz.

Defense Secretary Pete Hegseth has also signaled a possible longer time frame for the conflict than has previously been floated by the Trump administration, saying the war could last up to eight weeks but might be over sooner.