The Indonesia stock market has finished higher in four straight sessions, climbing more than 160 points or 2.6 percent along the way. The Jakarta Composite Index now rests just above the 6,200-point plateau and it may add to its winnings again on Tuesday.
The global forecast for the Asian markets is upbeat, supported by rising crude oil prices and vaccine optimism. The European and U.S. markets were up and the Asian bourses figure to follow that lead.
The JCI finished modestly higher again on Monday following gains from the resource stocks, while the financials, telecoms and cement companies were mixed.
For the day, the index jumped 57.14 points or 0.93 percent to finish at 6,208.87 after trading between 6,180.73 and 6,224.41.
Among the actives, Bank Danamon Indonesia collected 0.60 percent, while Bank Mandiri added 0.38 percent, Bank CIMB Niaga dropped 1.00 percent, Bank Rakyat Indonesia fell 0.22 percent, Indosat advanced 0.92 percent, Telkom Indonesia sank 0.30 percent, United Tractors soared 5.30 percent, Indocement climbed 0.90 percent, Semen Indonesia tumbled 1.78 percent, Indofood Suskes skidded 1.19 percent, Astra Agro Lestari gained 0.89 percent, Aneka Tambang surged 6.39 percent, Vale Indonesia accelerated 2.07 percent, Timah skyrocketed 8.31 percent, Bumi Resources rallied 4.76 percent and Bank Negara Indonesia and Astra International were unchanged.
The lead from Wall Street is positive as stocks opened higher on Monday and picked up steam as the day progressed, sending the major averages to fresh record closing highs.
The Dow jumped 237.52 points or 0.76 percent to finish at 31,385.76, while the NASDAQ advanced 131.35 points or 0.95 percent to end at 13,987.64 and the S&P 500 gained 28.76 points or 0.74 percent to close at 3,915.59.
The support on Wall Street came as a slowdown in the spread of the coronavirus in different parts of the world and improved vaccine rollout efforts have helped generate continued buying interest.
Traders also remain optimistic about the outlook for the global economy and the likelihood of additional U.S. fiscal stimulus as Democrats have taken the first steps toward passing President Joe Biden's $1.9 trillion relief package without Republican support.
Crude oil prices moved up sharply on Monday, lifted by forthcoming production cuts and growing optimism for stimulus from the Biden administration. West Texas Intermediate Crude oil futures for March closed higher by $1.12 or 2 percent at $57.97 a barrel.
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