The Indonesia stock market has finished higher in consecutive trading days, gathering almost 90 points or 1.4 percent along the way. The Jakarta Composite Index now rests just beneath the 6,670-point plateau although it's looking at a soft start on Wednesday.
The global forecast for the Asian suggests mild consolidation after several days of gains, although support from crude oil prices should limit the downside. The European and U.S. markets were slightly lower and the Asian markets are expected to open in similar fashion.
The JCI finished modestly higher on Tuesday following gains from the cement companies and mixed performances from the financials and resource stocks.
For the day, the index increased 37.63 points or 0.57 percent to finish at 6,669.92 after trading between
6,633.21 and 6,669.92.
Among the actives, Bank Danamon Indonesia skidded 1.16 percent, while Bank CIMB Niaga shed 0.47 percent, Bank Central Asia gathered 1.32 percent, Bank Mandiri tumbled 1.79 percent, Bank Rakyat Indonesia collected 0.47 percent, Indosat tanked 2.08 percent, Indocement rallied 2.42 percent, Semen Indonesia advanced 0.78 percent, Indofood Suskes climbed 1.20 percent, United Tractors fell 0.43 percent, Astra International declined 1.27 percent, Astra Agro Lestari added 0.69 percent, Aneka Tambang skidded 1.27 percent, Vale Indonesia dipped 0.21 percent, Bumi Resources jumped 1.41 percent and Timah and Bank Negara Indonesia were unchanged.
The lead from Wall Street is negative as the major averages opened lower on Tuesday and spent the entire session in the re easing from record closing highs.
The Dow skidded 112.24 points or 0.31 percent to finish at 36,319.98, while the NASDAQ lost 95.81 points or 0.60 percent to close at 15,886.54 and the S&P 500 fell 16.45 points or 0.35 percent to end at 4,695.25.
Crude oil futures settled sharply higher on Tuesday amid rising hopes about the outlook for energy demand after the United States lifted travel restrictions to several countries. West Texas Intermediate Crude oil futures for December ended up by $2.22 or 2.7 percent at $84.15 a barrel.
The pullback on Wall Street partly reflected profit taking, as some traders cashed in on the recent strength in the markets.
Economic news may begin to attract increased attention, as investors try to gauge when the Federal Reserve will start to begin raising interest rates. The Fed has announced plans to begin scaling back its asset purchases but signaled that it will not be in a hurry to raise rates.
On the U.S. economic front, the Labor Department released a report showing producer prices increased by slightly more than anticipated in October.
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