Indonesia Bourse Likely To Flirt With 6,300-Point Mark

(RTTNews) - The Indonesia stock market had climbed higher in three straight sessions, collecting almost 255 points or 4.2 percent along the way. The Jakarta Composite Index now rests just shy of the 6,290-point plateau and it figures to extend its gains again on Tuesday.

The global forecast for the Asian markets is firm on easing trade tensions between the United States and Mexico. The European and U.S. bourses were up and the Asian markets are tipped to follow that lead.

The JCI finished sharply higher on Monday following gains from the financial shares and resource stocks.

For the day, the index jumped 80.49 points or 1.30 percent to finish at 6,289.61 after trading between 6,276.28 and 6,334.65.

Among the actives, Bank Danamon Indonesia soared 3.24 percent, while Bank Mandiri advanced 2.28 percent, Bank Central Asia climbed 1.03 percent, Bank Negara Indonesia surged 3.27 percent, Bank Rakyat Indonesia spiked 3.17 percent, Indosat accelerated 2.44 percent, Indocement dropped 0.94 percent, Semen Indonesia skyrocketed 5.41 percent, Indofood Suskes jumped 4.55 percent, Bumi Resources perked 3.39 percent, Aneka Tambang soared 7.59 percent, Vale Indonesia jumped 3.70 percent and Timah was unchanged.

The lead from Wall Street is positive as stocks opened sharply higher Monday, faded a bit in the afternoon but still finished firmly in the green.

The Dow added 78.74 points or 0.30 percent to 26,062.68, while the NASDAQ gained 81.07 points or 1.05 percent to 7,823.17 and the S&P 500 rose 13.39 points or 0.47 percent to 2,886.73.

The morning rally came in reaction to news the U.S. and Mexico have reached an agreement to avert President Donald Trump's threatened tariffs on all Mexican imports.

Trump also said that existing tariffs on Chinese imports will force China to make a deal and threatened to impose more tariffs if Chinese President Xi Jinping does not attend a planned meeting at the G-20 summit later this month.

Crude oil futures ended lower Monday as concerns over near term energy demand outweighed prospects of a likely extension of production cuts by OPEC. West Texas Intermediate Crude oil futures for July ended down $0.73 or 1.4 percent at $53.26 a barrel.
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