Indonesia Stock Market Draws Flat Lead For Tuesday

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( - The Indonesia stock market on Monday wrote a finish to the five-day winning streak in which it had advanced almost 150 points or 3 percent. The Jakarta Composite Index now rests just above the 5,530-point plateau, and the market is expected to hold steady in that range on Tuesday.

The global forecast for the Asian markets is murky amidst a lack of catalysts, with weakness from crude oil prices limiting any upside. The European and U.S. markets were mixed and flat and the Asian bourses figure to follow suit.

The JCI finished slightly lower on Monday following weakness from the financial shares and the resource stocks.

Among the actives, XL Axiata dropped 1.54 percent, while Vale Indonesia added 0.85 percent, Bumi Resources tumbled 1.72 percent, Astra Agro Lestari shed 0.66 percent, Bank Negara Indonesia skidded 1.49 percent, Bank Danamon Indonesia was unchanged and Aneka Tambang and Exploitasi Energi Indonesia were unchanged.

The lead from Wall Street provides little clarity as stocks showed a lack of direction on Monday, bouncing back and forth across the unchanged line before ending mixed.

The NASDAQ added 0.53 points or 0.1 percent to 5,901.53, while the Dow shed 8.76 points or 0.1 percent to 20,905.86 and the S&P dipped 4.78 points or 0.2 percent to 2,373.47.

The choppy trading came on a quiet day on the U.S. economic front. The economic calendar remains relatively light throughout the week, although speeches by a number of Federal Reserve officials may also attract attention.

Traders shrugged off disappointment with the G20 meeting, where finance ministers failed to agree on a commitment to keep global trade free and open in response to President Donald Trump's protectionist policies.

Crude oil futures edged lower Monday amid reports that OPEC may extend its supply quota experiment beyond this year. WTI crude oil was down 56 cents or 1.2 percent to $48.22/bbl.

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This article appears in: World Markets , US Markets , Stocks , Stocks , Stocks
Referenced Symbols: AAGRY , BDMN , BUMI , CNKO , PAEKY

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