Recovery Expected For Indonesia Stock Market

The Indonesia stock market has finished lower in two straight sessions, surrendering more than 80 points or 1.2 percent along the way. The Jakarta Composite Index now rests just above the 5,860-point plateau although it may rebound on Wednesday.

The global forecast for the Asian markets is upbeat after FOMC Chairman Jerome Powell’s semiannual monetary policy testimony had few surprises. The European and U.S. markets were up and the Asian markets figure to follow suit.

The JCI finished modestly lower on Tuesday following losses from the resource stocks and a mixed performance from the financials.

For the day, the index fell 43.65 points or 0.74 percent to finish at 5,861.51 after trading between 5,840.94 and 5,884.80. There were 224 decliners and 156 gainers, with 126 stocks finishing unchanged.

Among the actives, Voksel Electric plummeted 8.48 percent, while Indosat soared 6.30 percent, Lotte Chemical surged 3.47 percent, Bank Mandiri declined 3.44 percent, Vale Indonesia dropped 2.90 percent, Bumi Resources plunged 2.63 percent, Bank Danamon retreated 2.26 percent, SLJ Global tumbled 1.89 percent, XL Axiata jumped 1.87 percent, Bank Central Asia fell 1.73 percent, Jasa Marga shed 0.62 percent, Bank Pan Indonesia collected 0.60 percent and Bank MNC Internasional, Tiga Pilar Sejahtera Food and Bukit Darmo Property were unchanged.

The lead from Wall Street is positive as stocks moved higher on Tuesday as the NASDAQ set a new record closing high and the S&P 500 hit its best closing level in over five months.

The Dow rose 55.53 points or 0.22 percent to 25,119.89, the NASDAQ advanced 49.40 points or 0.63 percent to 7,855.12 and the S&P 500 added 11.12 points or 0.40 percent to 2,809.55.

The strength on Wall Street came after Fed Chair Powell said the U.S. economy has grown at a solid pace this year and noted the latest

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Recovery Predicted For Thai Stock Market

The Thai stock market has finished lower in back-to-back trading days, sliding almost 17 points or 1 percent in that span. The Stock Exchange of Thailand now rests just above the 1,625-point plateau although it may regain its footing on Wednesday.

The global forecast for the Asian markets is upbeat after FOMC Chairman Jerome Powell’s semiannual monetary policy testimony had few surprises. The European and U.S. markets were up and the Asian markets figure to follow suit.

The SET finished barely lower on Tuesday as losses from the energy producers were tempered by support from the financial sector.

For the day, the index eased 1.62 points or 0.10 percent to finish at 1,626.07 after trading between 1,616.59 and 1,629.18. Volume was 11.194 billion shares worth 47.970 billion baht. There were 678 decliners and 478 gainers, with 472 stocks finishing unchanged.

Among the actives, Advanced Info shed 0.51 percent, while Thailand Airport tumbled 2.77 percent, Banpu skidded 1.48 percent, Bangkok Bank collected 0.52 percent, Bangkok Medical advanced 0.96 percent, Charoen Pokphand Foods slid 0.95 percent, Kasikornbank jumped 2.07 percent, Krung Thai Bank spiked 2.86 percent, PTT picked up 0.53 percent, PTT Exploration and Production plummeted 3.70 percent, PTT Global Chemical plunged 2.29 percent, Siam Commercial Bank perked 0.82 percent and Siam Concrete, Beauty Community and Bangkok Expressway were unchanged.

The lead from Wall Street is positive as stocks moved higher on Tuesday as the NASDAQ set a new record closing high and the S&P 500 hit its best closing level in over five months.

The Dow rose 55.53 points or 0.22 percent to 25,119.89, the NASDAQ advanced 49.40 points or 0.63 percent to 7,855.12 and the S&P 500 added 11.12 points or 0.40 percent to 2,809.55.

The strength on Wall Street came after Fed Chair Powell said the U.S. economy has

Read More Here...

Sensex scales record high, Nifty holds above 11,000

The 30-share BSE index spurted by 227.91 points, or 0.62 per cent, to hit new high of 36,747.87.

Mumbai: Extending yesterday’s rally, the benchmark BSE Sensex jumped over 200 points to record a new high of 36,747.87 in early trade today amid buying by domestic institutional investors and easing global crude oil prices.

The market rally was driven by strong buying on the oil and gas, banking, PSU and realty counters and strength in the rupee.

The 30-share BSE index spurted by 227.91 points, or 0.62 per cent, to hit new high of 36,747.87, surpassing its previous record of 36,740.07 recorded on July 13.

However, at 0950hrs, the index pared some gains and was trading 108.72 points, or 0.30 per cent, higher at 36,628.68. The gauge had gained 196.19 points in the previous session. The 50-share NSE Nifty also rose by 62.05 points, or 0.56 per cent, to 11,070.10.

Traders said positive cues from other Asian markets, tracking overnight gains in the US market following upbeat remarks from Federal Reserve Chairman Jerome Powell during his congressional testimony boosted investor sentiment.

Domestic institutional investors (DIIs) bought shares worth a net pf Rs 840.06 crore, while foreign portfolio investors (FPIs) sold shares worth a net of Rs 673.99 crore on Tuesday, provisional data released by stock exchanges showed.

Major gainers include Adani Ports, HDFC Bank, Sun Pharma, ONGC, Coal India, HDFC Ltd, Asian Paint, Wipro, Bajaj Auto, Hero MotoCorp, Maruti Suzuki, Infosys, PowerGrid, L&T, RIL and TCS, rising up to 1.65 per cent.

Sectoral indices led by oil and gas, PSU, realty and banking stocks gained up to 1.12 per cent. Other Asian markets were trading higher too.

Key indices such Japan’s Nikkei rose 0.90 per cent, Shanghai Composite Index 0.43 per cent and Hong Kong’s Hang Seng 0.29 per cent in

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Stocks Rise After Fed Chairman's Testimony

By Jon Sindreu and Jon Sindreu The Wall Street Journal Biography Allison Prang Allison Prang The Wall Street Journal Biography Updated July 17, 2018 5:29 p.m. ET

U.S. stocks rose Tuesday following Federal Reserve Chairman Jerome Powell’s Senate testimony, while investors also continued dissecting the latest round of corporate earnings results.

The Dow Jones Industrial Average added 55.53 points, or 0.2%, to 25119.89. The S&P 500 rose 11.12 points, or 0.4%, to 2809.55, and the technology-focused Nasdaq Composite climbed 49.40 points, or 0.6%, to 7855.12.

Mr. Powell told Congress that strong economic growth and stable inflation should keep the central bank on track to gradually raise short-term interest rates.

He added he wants inflation to stay around 2% and that the economy is “just shy” of hitting that point. He also touched on trade tensions, saying he thought countries that are open to trade have grown more quickly and commented on the new tax law, saying it was too early to see its impact.

Mr. Powell’s remarks were made before the Senate Banking Committee as part of his semiannual monetary policy report. Derivatives markets were pricing in a 62% chance that rates will rise at least twice more this year, according to data by CME Group.

Fed Chairman Jerome Powell arriving to testify before the Senate Banking Committee Tuesday. Photo: Jose Luis Magana/Associated Press

Quincy Krosby, chief market strategist for Prudential Financial, said Mr. Powell’s comments demonstrated the Fed is following the trade situation and looking at whether

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Stocks Rise After Fed Chairman's Testimony

By Jon Sindreu and Jon Sindreu The Wall Street Journal Biography Allison Prang Allison Prang The Wall Street Journal Biography Updated July 17, 2018 5:29 p.m. ET 1 COMMENTS

U.S. stocks rose Tuesday following Federal Reserve Chairman Jerome Powell’s Senate testimony, while investors also continued dissecting the latest round of corporate earnings results.

The Dow Jones Industrial Average added 55.53 points, or 0.2%, to 25119.89. The S&P 500 rose 11.12 points, or 0.4%, to 2809.55, and the technology-focused Nasdaq Composite climbed 49.40 points, or 0.6%, to 7855.12.

Mr. Powell told Congress that strong economic growth and stable inflation should keep the central bank on track to gradually raise short-term interest rates.

He added he wants inflation to stay around 2% and that the economy is “just shy” of hitting that point. He also touched on trade tensions, saying he thought countries that are open to trade have grown more quickly and commented on the new tax law, saying it was too early to see its impact.

Mr. Powell’s remarks were made before the Senate Banking Committee as part of his semiannual monetary policy report. Derivatives markets were pricing in a 62% chance that rates will rise at least twice more this year, according to data by CME Group.

Fed Chairman Jerome Powell arriving to testify before the Senate Banking Committee Tuesday. Photo: Jose Luis Magana/Associated Press

Quincy Krosby, chief market strategist for Prudential Financial, said Mr. Powell’s comments demonstrated the Fed is following

Read More Here...

Stocks Rise After Fed Chairman's Testimony

By Jon Sindreu and Jon Sindreu The Wall Street Journal Biography Allison Prang Allison Prang The Wall Street Journal Biography Updated July 17, 2018 5:29 p.m. ET 1 COMMENTS

U.S. stocks rose Tuesday following Federal Reserve Chairman Jerome Powell’s Senate testimony, while investors also continued dissecting the latest round of corporate earnings results.

The Dow Jones Industrial Average added 55.53 points, or 0.2%, to 25119.89. The S&P 500 rose 11.12 points, or 0.4%, to 2809.55, and the technology-focused Nasdaq Composite climbed 49.40 points, or 0.6%, to 7855.12.

Mr. Powell told Congress that strong economic growth and stable inflation should keep the central bank on track to gradually raise short-term interest rates.

He added he wants inflation to stay around 2% and that the economy is “just shy” of hitting that point. He also touched on trade tensions, saying he thought countries that are open to trade have grown more quickly and commented on the new tax law, saying it was too early to see its impact.

Mr. Powell’s remarks were made before the Senate Banking Committee as part of his semiannual monetary policy report. Derivatives markets were pricing in a 62% chance that rates will rise at least twice more this year, according to data by CME Group.

Fed Chairman Jerome Powell arriving to testify before the Senate Banking Committee Tuesday. Photo: Jose Luis Magana/Associated Press

Quincy Krosby, chief market strategist for Prudential Financial, said Mr. Powell’s comments demonstrated the Fed is following

Read More Here...

Stocks Rise After Fed Chairman's Testimony

By Jon Sindreu and Jon Sindreu The Wall Street Journal Biography Allison Prang Allison Prang The Wall Street Journal Biography Updated July 17, 2018 5:29 p.m. ET 1 COMMENTS

U.S. stocks rose Tuesday following Federal Reserve Chairman Jerome Powell’s Senate testimony, while investors also continued dissecting the latest round of corporate earnings results.

The Dow Jones Industrial Average added 55.53 points, or 0.2%, to 25119.89. The S&P 500 rose 11.12 points, or 0.4%, to 2809.55, and the technology-focused Nasdaq Composite climbed 49.40 points, or 0.6%, to 7855.12.

Mr. Powell told Congress that strong economic growth and stable inflation should keep the central bank on track to gradually raise short-term interest rates.

He added he wants inflation to stay around 2% and that the economy is “just shy” of hitting that point. He also touched on trade tensions, saying he thought countries that are open to trade have grown more quickly and commented on the new tax law, saying it was too early to see its impact.

Mr. Powell’s remarks were made before the Senate Banking Committee as part of his semiannual monetary policy report. Derivatives markets were pricing in a 62% chance that rates will rise at least twice more this year, according to data by CME Group.

Fed Chairman Jerome Powell arriving to testify before the Senate Banking Committee Tuesday. Photo: Jose Luis Magana/Associated Press

Quincy Krosby, chief market strategist for Prudential Financial, said Mr. Powell’s comments demonstrated the Fed is following

Read More Here...

Stocks Rise After Fed Chairman's Testimony

By Jon Sindreu and Jon Sindreu The Wall Street Journal Biography Allison Prang Allison Prang The Wall Street Journal Biography Updated July 17, 2018 5:29 p.m. ET 1 COMMENTS

U.S. stocks rose Tuesday following Federal Reserve Chairman Jerome Powell’s Senate testimony, while investors also continued dissecting the latest round of corporate earnings results.

The Dow Jones Industrial Average added 55.53 points, or 0.2%, to 25119.89. The S&P 500 rose 11.12 points, or 0.4%, to 2809.55, and the technology-focused Nasdaq Composite climbed 49.40 points, or 0.6%, to 7855.12.

Mr. Powell told Congress that strong economic growth and stable inflation should keep the central bank on track to gradually raise short-term interest rates.

He added he wants inflation to stay around 2% and that the economy is “just shy” of hitting that point. He also touched on trade tensions, saying he thought countries that are open to trade have grown more quickly and commented on the new tax law, saying it was too early to see its impact.

Mr. Powell’s remarks were made before the Senate Banking Committee as part of his semiannual monetary policy report. Derivatives markets were pricing in a 62% chance that rates will rise at least twice more this year, according to data by CME Group.

Fed Chairman Jerome Powell arriving to testify before the Senate Banking Committee Tuesday. Photo: Jose Luis Magana/Associated Press

Quincy Krosby, chief market strategist for Prudential Financial, said Mr. Powell’s comments demonstrated the Fed is following

Read More Here...

China Stock Market May Halt Its Slide On Wednesday

The China stock market has finished lower in three straight sessions, sliding almost 40 points or 1.4 percent along the way. The Shanghai Composite Index now rests just beneath the 2,800-point plateau although it may stage a recovery on Wednesday.

The global forecast for the Asian markets is upbeat after FOMC Chairman Jerome Powell’s semiannual monetary policy testimony had few surprises. The European and U.S. markets were up and the Asian markets figure to follow suit.

The SCI finished modestly lower on Tuesday following losses from the financial shares and the oil and insurance companies.

For the day, the index retreated 15.91 points or 0.57 percent to finish at 2,798.13 after trading between 2,774.76 and 2,806.92. The Shenzhen Composite Index dipped 2.76 points or 0.17 percent to end at 1,600.08.

Among the actives, China Construction Bank skidded 2.15 percent, while Bank of China shed 0.57 percent, China Merchants Bank tumbled 1.17 percent, China Life eased 0.13 percent, China Petroleum and Chemical (Sinopec) dropped 2.05 percent, PetroChina plunged 2.54 percent, China Shenhua Energy dropped 1.92 percent and Industrial and Commercial Bank of China was unchanged.

The lead from Wall Street is positive as stocks moved higher on Tuesday as the NASDAQ set a new record closing high and the S&P 500 hit its best closing level in over five months.

The Dow rose 55.53 points or 0.22 percent to 25,119.89, the NASDAQ advanced 49.40 points or 0.63 percent to 7,855.12 and the S&P 500 added 11.12 points or 0.40 percent to 2,809.55.

The strength on Wall Street came after Fed Chair Powell said the U.S. economy has grown at a solid pace this year and noted the latest data suggests economic growth in the second quarter was “considerably stronger” than in Q1.

With the strong job market, inflation close to the

Read More Here...