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Indonesia Bourse May Give Up Support At 5,700 Points

(RTTNews) - The Indonesia stock market has moved lower in two of three trading days since the end of the three-day winning streak in which it had climbed almost 90 points or 1.6 percent. The Jakarta Composite Index now rests just above the 5,725-point plateau and it inherits another weak lead for Tuesday.

The global forecast for the Asian markets is soft on rising geopolitical concerns. The European and U.S. markets were down and the Asian bourses figure to follow that lead.

The JCI finished modestly lower on Monday following heavy damage from the resource stocks and mixed performances from the financial shares and cement companies.

For the day, the index sank 29.23 points or 0.51 percent to finish at 5,727.26 after trading between 5,725.58 and 5,816.04. There were 294 decliners and 117 gainers, with 105 stocks finishing unchanged.

Among the actives, Bumi Resources plummeted 6.32 percent, while Aneka Tambang and Perusahaan Gas Negara both plunged 3.77 percent, Vale Indonesia retreated 3.27 percent, Voksel Electric soared 3.47 percent, Lotte Chemical skidded 1.70 percent, Jasa Marga dropped 1.38 percent, SLJ Global climbed 1.04 percent, Bank Pan Indonesia shed 0.45 percent, XL Axiata fell 0.36 percent, Bank Danamon Indonesia tumbled 1.77 percent, Bank Central Asia spiked 2.58 percent, Bank Mandiri dipped 0.39 percent, Bank Negara Indonesia jumped 1.81 percent, Bank Rakyat Indonesia collected 1.69 percent, Indosat declined 1.82 percent, Indocement added 0.15 percent, Semen Indonesia gave away 0.84 percent and Bank MNC Internasional and Bukit Darmo Property were unchanged.

The lead from Wall Street is negative as stocks fluctuated on Monday, bouncing back and forth across the unchanged line before ending in the red.

The Dow shed 89.44 points or 0.35 percent to end at 25,250.55, while the NASDAQ lost 66.15 points or 0.88 percent to finish at 7,430.74 and the S&P fell 16.34 points or 0.59 percent to 2,750.79.

The lower close on Wall Street came after the Commerce Department noted much weaker than expected U.S. retail sales growth in September. Also, the Federal Reserve Bank of New York said the pace of growth in New York manufacturing accelerated more than expected in October.

Oil futures were higher Monday on rising geopolitical tensions between the U.S. and Saudi Arabia following the disappearance of prominent journalist Jamal Khashoggi. Crude oil futures for November ended up $0.44 or 0.6 percent at $71.78 a barrel.
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