Win Streak May Continue For Indonesia Stock Market
(RTTNews) - The Indonesia stock market has finished higher in six straight sessions, advancing more than 170 points or 3 percent along the way. The Jakarta Composite Index now rests just beneath the 5,925-point plateau and it's looking at another green light again on Wednesday.
The global forec ast for the Asian markets is flat to higher ahead of election results in the United States. The European markets were down and the U.S. bourses were up and the Asian markets figure to follow the latter lead.
The JCI finished barely higher on Tuesday following mixed performances from the financials, cement companies and resource stocks.
For the day, the index added 3.34 points or 0.06 percent to finish at 5,923.93 after trading between 5,898.56 and 5,959.97.
Among the actives, XL Axiata surged 6.19 percent, while Lotte Chemical soared 4.97 percent, Bukit Darmo Property spiked 3.39 percent, SLJ Global jumped 2.13 percent, Jasa Marga skidded 1.68 percent, Voksel Electric climbed 1.09 percent, Bank Pan Indonesia collected 0.48 percent, Bank Danamon Indonesia slid 1.00 percent, Bank Central Asia added 0.93 percent, Bank Mandiri shed 0.34 percent, Bank Negara Indonesia perked 1.97 percent, Bank Rakyat Indonesia gathered 1.83 percent, Bumi Resources gained 0.61 perc ent, Aneka Tambang tumbled 1.45 percent, Indocement advanced 2.29 percent, Semen Indonesia was up 0.52 percent, Holcim Indonesia lost 2.17 percent and Vale Indonesia, Telekomunikasi Indonesia, Indosat and Bank MNC Internasional all were unchanged.
The lead from Wall Street is positive as stocks fluctuated on Tuesday but maintained an upward bias and finished in the green.
The Dow added 173.31 points or 0.68 percent to 25,635.01, while the NASDAQ gained 47.11 points or 0.64 percent to 7,375.96 and the S&P was up 17.14 points or 0.63 percent to 2,755.45.
The strength on Wall Street came as stocks continued to recover from the sell-off seen in October, which was one of the worst months for the markets in years.
However, traders seemed reluctant to make more significant moves amid uncertainty about the outcome of the midterm elections - which will decide control of the House and the Senate and have a major impact on President Donald Trump's abili ty to enact his pro-business agenda.
Traders also looked ahead to Thursday's Federal Reserve's monetary policy announcement. The Fed is widely expected to leave interest rates unchanged, but traders will keep a close eye on the accompanying statement for clues about an expected rate hike in December.
Crude oil prices fell again on Tuesday, extending their slide to a seventh successive session on prospects of a drop in demand amid uncertainty about global economic growth. Crude oil futures for December ended down $0.89 or 1.4 percent at $62.21 a barrel.SEE ALSO: Stocks jump as America awaits the midterm election results ÃÂ» READ NOW: Overwhelmed passengers abandoned an Indonesian flight crammed with 2 tons of a notoriously smelly tropical fruit ÃÂ» SUBSCRIBE NOW:
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