The Indonesia stock market has climbed higher in three straight sessions, collecting almost 75 points or 1.7 percent along the way. The Jakarta Composite Index now rests just beneath the 5,530-point plateau although it's expected to open under pressure on Wednesday.
The global forecast for the Asian suggests mild consolidation after significant upside in recent sessions, with a rising number of coronavirus cases also likely to weigh. The European markets were mixed and the U.S. bourses were down and the Asian markets figure to split the difference.
The JCI finished modestly higher on Tuesday following gains from the financials, telecoms and cement stocks, while resources were mixed.
For the day, the index gained 35.07 points or 0.64 percent to finish at 5,529.94 after trading between 5,515.52 and 5,562.54.
Among the actives, Bank Danamon Indonesia spiked 3.83 percent, while Bank Mandiri collected 0.81 percent, Bank CIMB Niaga jumped 1.84 percent, Bank Negara Indonesia gathered 1.32 percent, Bank Central Asia perked 1.08 percent, Telekomunikasi Indonesia surged 4.89 percent, Indosat added 0.45 percent, Semen Indonesia rose 0.23 percent, Indofood Suskes climbed 1.75 percent, United Tractors dropped 0.94 percent, Astra International plunged 2.11 percent, Astra Agro Lestari tumbled 1.79 percent, Aneka Tambang gained 0.42 percent, Vale Indonesia accelerated 1.78 percent, Timah advanced 0.95 percent and Bank Rakyat Indonesia, Indocement and Bumi Resources were unchanged.
The lead from Wall Street is soft as stocks opened lower on Tuesday, pared the losses as the day progressed but still ended in the red after two sessions of solid gains.
The Dow shed 167.09 points or 0.56 percent to finish at 28.783.35, while the NASDAQ lost 24.79 points or 0.21 percent to end at 11,899.34 and the S&P 500 fell 17.38 points or 0.48 percent to close at 3,609.53.
Profit taking contributed to the initial pullback on Wall Street after the strength seen in the previous session lifted the Dow and the S&P 500 to new record closing highs.
The markets were also troubled by data that showed more than 166,000 news coronavirus cases on Monday, with the total number of cases in the U.S. now exceeding 11 million.
In economic news, the Commerce Department said retail sales rose less than expected in October, while the Federal Reserve noted a significant rebound in U.S. industrial production last month.
Crude oil futures contracts ended slightly higher on Tuesday as hopes for tighter production cuts by OPEC outweighed surging coronavirus. West Texas Intermediate Crude oil futures for December ended up $0.09 or 0.2 percent at $41.43 a barrel.
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