(RTTNews) - The Indonesia stock market has moved higher in three straight sessions, collecting more than 30 points or 0.5 percent along the way. The Jakarta Composite Index now rests just above the 6,960-point plateau although the rally may stall on Tuesday.
The global forecast for the Asian markets is mixed and flat ahead of key employment data later this week. The European markets were down and the U.S. bourses were mixed and the Asian markets figure to split the difference.
The JCI finished modestly higher on Monday as gains from the financials and cement companies were capped by weakness from the resource stocks.
For the day, the index gained 21.57 points or 0.31 percent to finish at 6,961.46.
Among the actives, Bank Mandiri collected 0.41 percent, while Bank Danamon Indonesia rose 0.35 percent, Bank Negara Indonesia eased 0.24 percent, Bank Central Asia soared 2.83 percent, Bank Rakyat Indonesia added 0.48 percent, Indosat Ooredoo Hutchison surged 4.83 percent, Indocement rallied 1.51 percent, Semen Indonesia gained 0.78 percent, Indofood Suskes jumped 1.89 percent, United Tractors skidded 1.15 percent, Astra International improved 0.80 percent, Energi Mega Persada tumbled 2.19 percent, Aneka Tambang shed 0.55 percent, Vale Indonesia retreated 1.33 percent, Timah strengthened 1.27 percent, Bumi Resources sank 0.73 percent and Bank CIMB Niaga, Astra Agro Lestari and Perusahaan Gas Negara were unchanged.
The lead from Wall Street offers little clarity as the major averages opened mixed on Monday and finished the same way, little changed.
The Dow shed 74.15 points or 0.22 percent to finish at 33,433.35, while the NASDAQ jumped 88.45 points or 0.67 percent to close at 13,307.77 and the S&P 500 perked 0.34 points or 0.01 percent to end at 4,288.39.
Concerns about the outlook for interest rates continued to hang over the markets ahead of the release of the Labor Department's closely watched monthly jobs report on Friday.
Negative sentiment was also generated in reaction to a surge by treasury yields, with the yield on the benchmark 10-year note jumping to its highest level in almost sixteen years.
In economic news, the Institute for Supply Management noted a modest slowdown in the pace of contraction in U.S. manufacturing activity in September. Also, the Commerce Department said construction spending in the U.S. increased in line with estimates in August.
Crude oil prices fell sharply on Monday, hurt by a stronger dollar and concerns about prospects of rising supplies in the market. West Texas Intermediate Crude oil futures for November sank $1.97 or 2.2 percent at $88.82 a barrel.
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