FX.co ★ No Help Yet For Indonesia Stock Market

The Indonesian stock market has been on a downtrend for four consecutive sessions, losing nearly 70 points or 1 percent during this period. The Jakarta Composite Index is currently hovering just above the 7,280-point mark and it seems likely this downward trend may continue on Tuesday.

The prospect of Asian markets seems to be uncertain, with caution ahead of key economic data releases later this week. Meanwhile, the European markets have shown mixed results, and the US indices ended on a low note, potentially setting a precedent for Asian exchanges.

In trading on Monday, the Jakarta Composite Index (JCI) noted a slight dip due to mixed results from the financial sector, resources sector, and cement companies.

By the end of the day, the index fell 11.27 points or 0.15 percent to 7,283.82, having been traded within a range of 7,252.28 and 7,295.14.

Key movers included Bank CIMB Niaga which surged by 0.99 percent, Bank Danamon Indonesia which fell 1.02 percent, and Bank Central Asia which dropped 0.25 percent. Other notable shifts included an increase of 0.82 percent for Bank Rakyat Indonesia, a plunge for Indosat Ooredoo Hutchison by 2.74 percent, and improvements of 0.83 percent for Indocement. Other stock changes occurred in Semen Indonesia, Indofood Suskes, United Tractors, Astra Agro Lestari, Aneka Tambang, Vale Indonesia, Timah, Bumi Resources, and Jasa Marga Persero.

US market trends were weak, with major averages opening slightly high on Monday but diminishing as the day continued, resulting in minor losses.

The Dow Jones Industrial Average declined by 62.30 points or 0.16 percent, closing at 39,069.23, while the NASDAQ Composite Index shed 20.57 points or 0.13 percent, ending at 15,976.25. The S&P 500 index fell by 19.27 points or 0.38 percent to end at 5,069.53.

Various factors are influencing traders' behaviours, including the reluctance to make significant moves following last week's gains that propelled the Dow and S&P 500 to new records. They are also exercising caution in anticipation of key inflation reports from Germany, France, Spain, and the United States.

In US economic news, the Commerce Department has reported continued recovery in new home sales in January, despite failing to meet expectations.

On the other hand, oil prices recovered from early losses to rise on Monday amid ongoing attacks by Houthi militants on the Red Sea route, leading to concerns about supply dislocation. As a result, West Texas Intermediate Crude oil futures for April ended with a rise of $1.09 or 1.4 percent at $77.58 a barrel.