SCHWpD

The Charles Schwab Corporation Depositary Shares each representing 1/40th interest in a share of 5.9

25.1000
USD
0.60%
25.1000
USD
0.60%
24.2200 25.9300
52 weeks
52 weeks

Mkt Cap 753.00M

Shares Out 30.00M

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Renewed Selling Pressure Likely For Indonesia Stock Market

(RTTNews) - The Indonesia stock market bounced higher again on Tuesday, one session after halting the four-day winning streak in which it had spiked more than 320 points or 4.9 percent. The Jakarta Composite Index now rests just above the 6,910-point plateau although it figures to head south again on Wednesday. The global forecast for the Asian markets is broadly negative, with oil and technology stocks expected to lead the way lower. The European markets were down and the U.S. bourses were mixed and the Asian markets figure to split the difference. The JCI finished sharply higher on Tuesday following gains from the resource stocks, cement companies and financial shares. For the day, the index gained 73.37 points or 1.07 percent to finish at 6,914.14 after trading between 6,822.14 and 6,941.67. Among the actives, Bank Danamon Indonesia collected 0.42 percent, while Bank CIMB Niaga added 0.50 percent, Bank Negara Indonesia spiked 2.54 percent, Bank Central Asia dipped 0.34 percent, Bank Mandiri gained 0.63 percent, Bank Rakyat Indonesia advanced 3.00 percent, Indocement climbed 1.24 percent, Semen Indonesia soared 3.08 percent, Indofood Suskes tumbled 1.95 percent, United Tractors rallied 2.19 percent, Astra International accelerated 2.88 percent, Bakrie Sumatera Plantations dropped 0.85 percent, Astra Agro Lestari shed 0.61 percent, Aneka Tambang strengthened 1.58 percent, Vale Indonesia jumped 1.62 percent, Timah surged 3.14 percent and Bumi Resources, Indosat and Energi Mega Persada were unchanged. The lead from Wall Street is mixed to lower as the major averages opened in the red on Tuesday and spent most of the day there, although the Dow crept above the unchanged line at the end. The Dow added 48.38 points or 0.15 percent to finish at 31,928.62, while the NASDAQ plummeted 270.83 points or 2.35 percent to close at 11,264.45 and the S&P 500 sank 32.27 points or 0.81 percent to end at 3,941.48. A steep drop by shares of Snap Inc. (SNAP) weighed on the tech sector after the company warned of weaker than expected second quarter results. The pullback also reflected lingering concerns that aggressive interest rate hikes by the Federal Reserve could lead to a recession; the Fed is due to release the minutes from its latest monetary policy meeting later today, which may shed additional light on the outlook for rates. Adding to the negative sentiment, the Commerce Department reported a much steeper than expected drop in new home sales in April. Crude oil futures slipped on Tuesday on concerns about the outlook for energy demand due to China's increased Covid-19 curbs. Markets are also worried that aggressive monetary policy tightening by central banks to control inflation could tip the global economy into a recession. West Texas Intermediate Crude oil futures for July fell $0.52 or 0.5 percent at $109.77 a barrel. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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