On Monday, the Indonesian stock market concluded a three-day winning streak, during which the Jakarta Composite Index (JCI) had gained nearly 130 points, equating to a 1.8 percent rise. Despite this setback, the index remains just above the 7,080 mark and is anticipated to receive renewed support on Tuesday.
The outlook for Asian markets is promising, with an expected boost led by technology stocks. This optimism follows positive trends in European and U.S. markets, setting the stage for a similar response across Asian exchanges.
On Monday, the JCI experienced a significant decline, driven by losses in financial, cement, and resource stocks. The index dropped by 83.96 points, or 1.17 percent, closing at 7,080.47 after fluctuating between 7,073.95 and 7,182.02 throughout the trading day.
In terms of notable movements, Bank CIMB Niaga decreased by 1.69 percent, Bank Mandiri fell 2.16 percent, and Bank Danamon Indonesia dipped 0.77 percent. Some of the more significant declines included Bank Negara Indonesia down 2.42 percent and Indocement plunging 2.83 percent. Despite these downturns, Energi Mega Persada rose 0.83 percent, and Jasa Marga surged 3.15 percent. Notably, Bank Maybank Indonesia remained stable.
Wall Street provided a generally positive lead, with major indices beginning the day on a high note. While the Dow Jones Industrial Average ended slightly lower by 25.57 points, closing at 42,706.56, the NASDAQ saw a robust rise of 243.30 points or 1.24 percent to 19,864.98. The S&P 500 also gained 32.91 points or 0.55 percent, finishing at 5,975.38.
The initial Wall Street rally was supported by strong performances in tech stocks, particularly after Foxconn reported record fourth-quarter revenues driven by high demand for AI servers. Additionally, buying interest increased following reports that President-elect Donald Trump might reconsider his tariff plans.
In contrast, crude oil prices saw a break from their five-day upward trend, despite being cushioned by Saudi Arabia's decision to increase prices for Asian customers for the first time in three months. West Texas Intermediate Crude for February delivery declined by $0.46 or 0.5 percent, to close at $73.50 per barrel.
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