Higher Open Called For Indonesia Stock Market

(RTTNews) - The Indonesia stock market has tracked higher in back-to-back sessions, collecting more than 50 points or 0.8 percent along the way. The Jakarta Composite Index now rests just above the 6,300-point plateau and it's got another solid lead for Tuesday's trade.

The global forecast for the Asian markets suggests mild upside on growing optimism for improved trade. The European markets were mixed and the U.S. bourses were modestly higher and the Asian markets figure to split the difference.

The JCI finished modestly higher on Monday following mixed performances from the financial shares and the resource stocks.

For the day, the index added 21.54 points or 0.34 percent to finish at 6,305.91 after trading between 6,270.54 and 6,315.72.

Among the actives, Bank Danamon Indonesia plunged 2.37 percent, while Bank Mandiri collected 0.32 percent, Bank Negara Indonesia jumped 1.60 percent, Bank Rakyat Indonesia spiked 2.06 percent, Indocement skidded 1.13 percent, Semen Indonesia dropped 1.01 percent, Indofood Suskes added 0.32 percent, Bumi Resources climbed 1.54 percent, Aneka Tambang shed 0.60 percent, Vale Indonesia advanced 1.12 percent and Timah, Bank Central Asia and Indosat were unchanged.

The lead from Wall Street is upbeat as stocks moved modestly higher on Monday, extending recent gains and sending the major averages to fresh record closing highs.

The Dow added 96.44 points or 0.34 percent to finish at 28,551.53, while the NASDAQ rose 20.69 points or 0.23 percent to 8,945.65 and the S&P 500 gained 2.79 points or 0.09 percent to 3,224.01.

The continued strength on Wall Street came on the heels of news that China's Finance Ministry has announced plans to lower tariffs on a range of products, including frozen pork, pharmaceuticals and some high-tech components.

Trading activity remained relatively subdued, however, with some traders looking to get a head start on the Christmas holiday.

In economic news, the Commerce Department saw an unexpected slump in durable goods orders, and it also noted a significant increase in U.S. new home sales in November.

Crude oil futures ended higher on Monday, although gains were marginal as traders refrained from big moves ahead of upcoming Christmas and New Year holidays. West Texas Intermediate Crude Oil futures for February ended up $0.08 at $60.52 a barrel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


More Related Articles

Info icon

This data feed is not available at this time.

Sign up for Smart Investing to get the latest news, strategies and tips to help you invest smarter.