Indonesia's JCI Faces Resistance at 5,400 After Three-Day 7.6% Rally

Indonesia's Jakarta Composite Index may stall Friday near the 5,390 level after three consecutive sessions of gains totaling more than 390 points, or 7.6 percent, with resistance expected at 5,400 points. The JCI closed up 59.54 points, or 1.12 percent, at 5,387.90 on Thursday, trading between 5,185.53 and 5,422.59, lifted by financials, energy, minerals and utilities. The index has now risen in three straight sessions. The rally faces headwinds from a weak global outlook. The Dow edged up 11.89 points, or 0.02 percent, to 52,867.98, while the NASDAQ plunged 694.00 points, or 2.60 percent, to 26,008.86, and the S&P 500 fell 93.74 points, or 1.21 percent, to 7,663.43, as technology shares including Nvidia (NVDA) and Meta Platforms (META) slid on AI infrastructure spending concerns. Crude oil jumped on reports the U.S. and Israel plan a joint military operation against Iran after November U.S. midterm elections. December WTI rose $2.19, or 2.25 percent, to $99.34 a barrel.