Indonesia Stock Market Called Higher On Tuesday – Markets Insider

(RTTNews) – The Indonesia stock market has finished higher in two of three trading days since the end of the two-day losing streak in which it had given away more than 80 points or 1.3 percent. The Jakarta Composite Index now rests just above the 6,245-point plateau and it’s expected to tick higher again on Tuesday.

The global forecast for the Asian markets is upbeat thanks to easing concerns or a global trade war and a bump in crude oil prices. The European and U.S. markets were higher, and the Asian markets are expected to follow suit.

The JCI finished sharply higher on Monday following gains from the resources stocks and a mixed picture from the financials.

For the day, the index jumped 71.08 points or 1.15 percent to finish at the daily high of 6,246.13 after moving as low as 6,178.18. There were 206 gainers and 164 decliners, with 117 stocks finishing unchanged.

Among the actives, Bukit Darmo Property and Astra Graphia both plummeted 5.61 percent, while Bank MNC Internasional skidded 1.96 percent, SLJ Global dropped 1.71 percent, Lotte Chemical spiked 1.54 percent, Bank Pan Indonesia shed 0.47 percent, Jasa Marga lost 0.44 percent, XL Axiata added 0.39 percent, Bank Danamon Indonesia fell 0.77 percent, Bank Mandiri collected 0.33 percent, Bumi Resources dipped 0.72 percent, Vale Indonesia advanced 2.37 percent and Tiga Pilar Sejahtera Food was unchanged.

The lead from Wall Street is positive as stocks moved sharply higher on Monday after taking heavy damage on Friday. Much of the upside vanished as the day progressed, but the major averages still finished firmly in the green.

The Dow added 46.34 points or 0.19 percent to 23,979.10, while the NASDAQ gained 35.23 points or 0.51 percent to 6,950.34 and the S&P was up 8.69 points or 0.33 percent to 2,613.16.

Stocks failed to sustain early gains following President Donald Trump’s conciliatory tweet to the Chinese leadership eased concerns about a potential trade war between the U.S. and China.

Stocks accelerated toward the unchanged line after a report from the New York Times that the FBI had raided the office of Michael Cohen, President Donald Trump’s personal lawyer

Crude oil prices snapped Monday on easing concerns of a global trade war between the United States and China. WTI light sweet crude oil was up $1.40 at $63.46.

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