FX.co ★ Indonesia Shares Poised To Bounce Higher Again On Thursday

### Indonesia Stock Market Outlook: Positive Start on Thursday

The Indonesia stock market has shown declines in two of the past three trading days after a three-day rally that gained over 100 points, or a 1.3 percent increase. The Jakarta Composite Index (JCI) currently stands just above the 7,760-point mark, with expectations for an upward opening on Thursday.

### Global Market Forecast

The global market forecast for Asian stocks is optimistic, driven by a positive outlook on interest rates. While European markets showed mixed results, U.S. stock indices experienced gains, suggesting Asian markets might follow the U.S. trend.

### JCI Performance Recap

On Wednesday, the JCI dipped slightly, influenced by mixed performances in financial and resource shares. The index slipped 0.43 points, or 0.01 percent, closing at 7,760.96, after fluctuating between 7,736.78 and 7,802.48.

### Key Movers in Indonesia

Among active stocks:

- **Bank Mandiri**: Increased by 1.72%

- **Bank Danamon Indonesia**: Decreased by 0.38%

- **Aneka Tambang**: Decreased by 0.38%

- **Bank Negara Indonesia**: Dropped by 0.88%

- **Bank Central Asia**: Rose by 0.72%

- **Bank Rakyat Indonesia**: Fell by 1.43%

- **Bank Maybank Indonesia**: Rallied by 2.59%

- **Indosat Ooredoo Hutchison**: Skidded by 1.14%

- **Semen Indonesia**: Sank by 0.75%

- **Indofood Sukses Makmur**: Lost 0.71%

- **United Tractors**: Tumbled by 1.78%

- **Astra Agro Lestari**: Declined by 1.55%

- **Jasa Marga**: Slumped by 1.22%

- **Timah**: Climbed by 1.03%

- **Bumi Resources**: Plunged by 3.09%

**Unchanged:**

- Astra International, Bank CIMB Niaga, Indocement, Vale Indonesia, Energi Mega Persada.

### Wall Street Influence

Positive cues from Wall Street indicate that major averages managed to overcome early weaknesses, closing near session highs.

- **Dow Jones**: Increased by 124.75 points or 0.31%, closing at 40,861.71.

- **NASDAQ**: Surged by 369.65 points or 2.17%, ending at 17,395.53.

- **S&P 500**: Rallied by 58.61 points or 1.07%, closing at 5,554.13.

The initial decline on Wall Street followed the release of the Labor Department's consumer price inflation report for August. Despite consumer prices rising in line with estimates, a slight unexpected increase in core prices was noted. This data initially led to lower stock prices as it seemed to reduce the likelihood of a significant interest rate cut by the Federal Reserve. However, the selling pressure diminished as expectations remain for continued rate reductions in the coming months.

### Crude Oil Market

Crude oil prices saw a significant surge on Wednesday, rebounding from a three-year low due to concerns over prolonged production shutdowns in the offshore oil sector caused by Hurricane Francine. West Texas Intermediate Crude oil futures for October rose by $1.56 or 2.37% to $67.31 per barrel.