Further Bolstering of Indonesian Stock Market Anticipated

The Indonesia stock market showed a mixed performance on Thursday, with the Jakarta Composite Index (JCI) finishing modestly higher. Despite Indosat Ooredoo Hutchison tanking 2.88%, the JCI managed to stay above the 7,950-point plateau.

European markets were mixed and flat, while U.S. bourses were slightly higher. Meanwhile, the Indonesia stock market has seen an increase of approximately 50 points or 0.6% in the last two trading days.

Financial shares in Indonesia had mixed performances on Thursday. Notable declines were seen in Indocement, which skidded 1.07%, and United Tractors, which retreated 1.30%. However, Astra International and Energi Mega Persada saw significant growth, with increases of 1.36% and 4.50% respectively.

One of the standout performers on Friday was PT Vale Indonesia Tbk, a major mining company. Although precise percentage gains on that day are not detailed, the company reported revenue of over 15 trillion IDR and a strong equity ratio.

Crude oil prices moved higher on Thursday, with West Texas Intermediate crude for October delivery at $64.57 per barrel.

Looking ahead, investors are focusing on the release of the Commerce Department's report on personal income and spending in July. This report includes the Federal Reserve's preferred readings on consumer price inflation. The global forecast for Asian markets suggests little movement ahead of key U.S. inflation data.

The Labor Department provided no further details on the U.S. unemployment claims, and no specific economic data was provided for the Canadian market. No new information was mentioned in the context of Asian markets, and no specific mention of stock market movements for companies other than Nvidia (NVDA) was found. Nvidia reported second quarter results that largely exceeded expectations but data center sales that came in below estimates.

In the tech sector, no additional economic news was mentioned. However, Nvidia's second quarter results may have broader implications for the industry. With the U.S. economy growing more than estimated in the second quarter of 2025, the tech sector could continue to see strong growth in the coming months.

In conclusion, while Indosat Ooredoo Hutchison led the declines in the Indonesian stock market on Thursday, the JCI managed to hold steady. The market is expected to remain volatile as investors await key economic data releases, particularly the Commerce Department's report on personal income and spending in July. The tech sector, particularly companies like Nvidia, will be closely watched as they navigate the changing economic landscape.