Win Streak May End For Indonesia Stock Market

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The Indonesia stock market has finished higher in five straight sessions, collecting more than 70 points or 1.2 percent along the way. The Jakarta Composite Index remains just above the 5,945-point plateau although investors may cash in on Friday.

The global forecast for the Asian markets is mixed to lower, with technology stocks expected to weigh. The European markets were up and the U.S. bourses were mixed, and the Asian markets are expected to follow the latter lead.

The JCI finished slightly higher on Thursday following mixed performances from the financial shares and the resource stocks.

For the day, the index picked up 12.25 points or 0.21 percent to finish at 5,946.14 after trading between 5,928.74 and 5,967.60. There were 193 decliners and 189 gainers, with 114 stocks finishing unchanged.

Among the actives, Indo-Rama Synthetic skyrocketed 13.19 percent, while Voksel Electric tumbled 2.52 percent, Bank Pan Indonesia skidded 2.45 percent, Bumi Resources plunged 2.36 percent, Bank Danamon Indonesia declined 2.30 percent, Jasa Marga spiked 1.98 percent, SLJ Global dropped 1.92 percent, Bukit Darmo Property fell 1.49 percent, XL Axiata retreated 1.39 percent, Bank Central Asia shed 1.06 percent, Bank Mandiri climbed 1.16 percent, Bank Negara Indonesia soared 3.77 percent, Bank Rakyat Indonesia jumped 1.67 percent, Indosat added 0.50 percent, Aneka Tambang advanced 1.14 percent, Vale Indonesia gained 0.93 percent and Tiga Pilar Sejahtera Food, Bank MNC Internasional and Lotte Chemical were unchanged.

The lead from Wall Street is inconclusive as stocks turned in a mixed performance on Thursday following the strong upward move a day earlier.

The Dow climbed 112.97 points or 0.44 percent to 25,527.07, while the NASDAQ slumped 80.05 points or 1.01 percent to 7,852.18 and the S&P 500 dropped 8.63 points or 0.30 percent to 2,837.44.

A notable decline by Facebook (FB) weighed on the NASDAQ after the social media giant reported better than expected second quarter earnings but weaker than expected revenues.

Other stocks benefited from news President Donald Trump and European Commission president Jean-Claude Juncker agreed to work towards eliminating trade barriers on industrial goods.

In economic news, first-time claims for jobless benefits in the U.S. showed a modest increase in the week ended July 21st, according to a report released by the Labor Department.

Crude oil prices climbed higher on Thursday, extending gains for a third successive session, on a bigger than expected drop in U.S. crude inventories. Crude oil futures for September ended up $0.31 or 0.4 percent at $69.61 a barrel on the New York Mercantile Exchange.

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