The Indonesia stock market on Tuesday snapped the two-day winning streak in which it had advanced almost 80 points or 1.4 percent. The Jakarta Composite Index remains just above the 6,010-point plateau although it's predicted to rebound on Wednesday.
The global forecast for the Asian is upbeat on coronavirus vaccine rollout. The European markets were mixed and the U.S. bourses were firmly higher and the Asian markets are predicted to follow the latter lead.
The JCI finished barely lower on Tuesday following losses from the financials and mixed performances from the cement and resource stocks.
For the day, the index dipped 2.39 points or 0.04 percent to finish at 6,010.13 after trading between 5,965.81 and 6,023.21.
Among the actives, Bank Danamon Indonesia dropped 0.88 percent, while Bank Mandiri shed 0.37 percent, Bank CIMB Niaga advanced 0.98 percent, Bank Negara Indonesia declined 1.14 percent, Bank Central Asia slid 0.44 percent, Indosat jumped 1.80 percent, Indocement tumbled 1.89 percent, Semen Indonesia rallied 2.08 percent, Indofood Suskes skidded 1.78 percent, Astra International spiked 4.85 percent, Astra Agro Lestari rose 0.21 percent, Aneka Tambang soared 2.30 percent, Vale Indonesia lost 0.47 percent, Timah surged 5.32 percent, Bumi Resources retreated 1.41 percent and Bank Rakyat Indonesia was unchanged.
The lead from Wall Street is solid as stocks opened firmly higher on Tuesday and extended gains as the session progressed.
The Dow jumped 337.76 points or 1.13 percent to finish at 30,199.31, while the NASDAQ advanced 155.02 points or 1.25 percent to end at 12,595.06 and the S&P 500 gained 47.13 points or 1.29 percent to close at 3,694.62.
The rally on Wall Street came amid unrelenting optimism lawmakers will eventually agree on a new fiscal stimulus bill. Stocks accelerated to the upside following news that congressional leaders are meeting to discuss a relief package.
Adding to the positive sentiment, the Federal Reserve released a report showing U.S. industrial production rose slightly more than expected in November.
Crude oil prices moved higher on Tuesday amid easing concerns about the outlook for energy demand following the rollout of a coronavirus vaccine. West Texas Intermediate Crude oil futures for January settled at $47.62 a barrel, gaining $0.63 or 1.3 percent.
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