The Indonesia stock market on Thursday snapped the four-day losing streak in which it had surrendered more than 80 points or 1.4 percent. The Jakarta Composite Index now rests just beneath the 5,670-point plateau and the market is looking at a steady start for Friday.
The global forecast for the Asian markets is mixed and flat ahead of key U.S. employment later today, along with a decline in the price of crude oil. The European markets were up and the U.S. bourses were mixed and the Asian markets figure to split the difference.
The JCI finished modestly higher on Thursday as gains from the financials and telecoms were tempered by weakness from the resource stocks.
For the day, the index climbed 22.07 points or 0.39 percent to finish at 5,669.44 after trading between 5,643.05 and 5,676.01. There were 190 decliners and 137 gainers, with 92 stocks finishing unchanged.
Among the actives, XL Axiata spiked 3.25 percent, while Lotte Chemical Titan plunged 4.71 percent, Bank MNC Internasional skidded 1.52 percent, Bank Danamon Indonesia jumped 1.02 percent, Bank Mandiri climbed 1.08 percent, Bank Central Asia collected 0.42 percent, Indocement gained 0.15 percent, Astra Agro Lestari shed 0.53 percent, Aneka Tambang tumbled 3.01 percent and Bumi Resources plummeted 4.67 percent.
The lead from Wall Street offers little guidance as stocks showed a lack of direction on Thursday before ending mixed.
The Dow shed 6.43 points or 0.1 percent to 20,951.47, while the NASDAQ crept up 2.79 points or 0.1 percent to 6,075.34 and the S&P gained 1.39 points or 0.1 percent to 2,389.52.
The choppy trading came ahead of the Labor Department’s monthly jobs report later today. Employment is called higher by 180,000 jobs in April after rising by 98,000 jobs in March.
In economic news, the Labor Department said first-time claims for unemployment benefits fell more than expected in the week ended April 29. It also noted an unexpected drop in labor productivity in the first quarter along with a bigger…