Stocks tumbled as surprisingly poor demand at a German government-bond auction raised concerns about peripheral European issues spreading to the stronger core countries.
The Dow Jones Industrial Average, as quoted by Bisnis Indonesia, fell 236.17 points, or 2.1%, to 11,257.55, finishing at the day's lows. The Dow's decline extends its losing streak to three straight days, shaving 4.6% off the blue-chip index and sending it to a 6-week low. With Wednesday's drop, the Dow has given up more than half its historic rally in October.
The Standard & Poor's 500-stock index declined 26.25 points, or 2.2%, to 1,161.79, and the Nasdaq Composite shed 61.20 points, or 2.4%, to 2,460.08. How about Indonesia stock market today? Bisnis Indonesia provides recommendations today:
Jakarta Composite Index (JCI) today is estimated to move within the range of 3,622-3,736 with several stocks to watch: BKSL and BDMN. The index fell 1.30% to 3,678 yesterday.
The index today may be in pressure because of external factors. Investor will consider macroeconomic indicators of the US before they take action. Despite the weak position of blue chips, there are still opportunity to put trading on second and third liner stocks.
Minna Padi Investama:
The JCI today may move within the range of 3,638-3,729. Several stocks to watch: ADRO, HRUM, and UNVR. The index yesterday fell 48.52 points to 3,678.
Disclosure: No position at the stock mentioned above.
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