Indonesia Stock Market Has Positive Lead

(RTTNews) - The Indonesia stock market on Wednesday snapped the two-day slide in which it had given away nearly 50 points or 0.8 percent. The Jakarta Composite Index now rests just above the 6,115 point plateau and it's tipped to open higher again on Thursday.

The global forecast for the Asian markets is firm on renewed optimism regarding a trade deal between the United States and China. The European and U.S. markets were up and the Asian markets are tipped to follow suit.

The JCI finished modestly higher on Wednesday following mild upside from the financial shares and cement stocks.

For the day, the index collected 38.99 points or 0.64 percent to finish at 6,115.58 after trading between 6,084.34 and 6,118.23.

Among the actives, Bank Central Asia collected 0.10 percent, while Bank Mandiri was up 0.34 percent, Indocement added 0.38 percent, United Tractors gained 0.77 percent, Indofood Suskes spiked 2.28 percent, Vale Indonesia slid 0.98 percent, Indosat tumbled 2.16 percent and Bank Danamon Indonesia, Bank Negara Indonesia, Bank Rakyat Indonesia, Aneka Tambang, Semen Indonesia and Bumi Resources all were unchanged.

The lead from Wall Street is positive as stocks closed higher on Wednesday, with traders expressing renewed optimism about U.S.-China trade talks.

The Dow added 157.03 points or 0.64 percent to 24,527.27, while the NASDAQ gained 66.48 points or 0.95 percent to 7,098.31 and the S&P was up 14.29 points or 0.54 percent to 2,651.07.

The strength on Wall Street came after President Donald Trump expressed optimism for a trade deal with Chinese President Xi Jinping, noting that talks between U.S. and Chinese officials were underway by telephone with more expected.

In economic news, the Labor Department said consumer prices came in flat in November, with a sharp pullback in gasoline prices offsetting gains elsewhere. Core CPI ticked slightly higher.

Crude oil futures failed to hold early gains and settled lower Wednesday, despite data showing a less than expected drop in U.S. crude inventories last week. Crude oil futures for January delivery ended down $0.50 or 1 percent at 51.15 a barrel.
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