Renewed consolidation in Indonesia stock market expected after rebound, influenced by negative global forecasts.

From Nasdaq: 2024-11-12 20:34:00

The Indonesia stock market has rebounded after a two-day slide, with the Jakarta Composite Index hovering above 7,320 points. However, it is expected to head south again due to negative global market forecasts ahead of U.S. inflation data. The JCI saw gains from food, telecom, and cement companies but mixed performance from financials and resources. On Tuesday, the index closed 0.76 percent higher at 7,321.99. Wall Street experienced losses, with the Dow, NASDAQ, and S&P 500 all finishing in the red. Traders are cautious ahead of the consumer price inflation report, while oil prices edged up slightly after OPEC’s demand forecast adjustment.



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