Indonesia Stock Market Likely To Crack 6,100-Point Barrier

(RTTNews) - The Indonesia stock market has climbed higher in three straight sessions, collecting almost 160 points or 2.7 percent along the way. The Jakarta Composite Index now rests just shy of the 6,100-point plateau and it may add to its winnings on Tuesday.

The global forecast for the Asian markets suggests mild upside on continued optimism for a resolution to the trade dispute between China and the United States. The European markets were up and the U.S. markets were closed for the Memorial Day holiday - and the Asian bourses figure to see mild upside.

The JCI finished modestly higher on Monday following gains from the financial shares, resource stocks and cement companies.

For the day, the index advanced 41.62 points or 0.69 percent to finish at 6,098.97 after trading between 6,054.77 and 6,114.53.

Among the actives, Bank Danamon Indonesia tumbled 1.64 percent, while Bank Mandiri collected 0.32 percent, Bank Central Asia jumped 1.34 percent, Bank Negara Indonesia added 0.58 percent, Bank Rakyat Indonesia spiked 1.82 percent, Indosat surged 5.54 percent, Indocement soared 4.04 percent, Semen Indonesia jumped 5.32 percent, United Tractor dropped 1.00 percent, Indofood Suskes perked 3.57 percent, Unilever Indonesia shed 0.75 percent, Bumi Resources rose 0.88 percent, Aneka Tambang gained 1.37 percent, Vale Indonesia climbed 2.23 percent and Timah skyrocketed 10.70 percent.

There is no lead from Wall Street, but the European stock markets offer a bit of optimism by trading in the green.

Investors will continue to be looking for news on Brexit and U.S.-China trade issues for some direction.

European stocks were higher as investors digested results from European Union elections in which the mainstream parties held their ground and populist and far-right parties in some countries fell short of expectations.

In commodities, crude oil futures for July are down $0.07 or 0.12 percent at $58.56 a barrel. Gold futures for June are up $1.40 or 0.12 percent at $1,285.00 an ounce.
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