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Win Streak May Continue For Indonesia Bourse

(RTTNews) - The Indonesia stock market has finished higher in four straight sessions, gathering almost 75 points or 1.2 percent along the way. The Jakarta Composite Index now rests just beneath the 6,385-point plateau and it's expected to open higher again on Wednesday.

The global forecast for the Asian markets suggests mild upside, although plummeting crude oil prices will likely cap any upside. The European and U.S. markets were slightly higher and the Asian bourses are expected to open in similar fashion.

The JCI finished slightly higher on Tuesday as gains from the cement and food stocks were capped by weakness from the resource stocks and a mixed bag from the financials.

For the day, the index collected 5.21 points or 0.08 percent to finish at 6,384.90 after trading between 6,365.37 and 6,394.45.

Among the actives, Bank Danamon Indonesia shed 0.63 percent, while Bank Mandiri collected 0.31 percent, Bank Central Asia and Unilever both rose 0.17 percent, Bank Negara Indonesia lost 0.27 percent, Bank Rakyat Indonesia dipped 0.23 percent, Indosat tumbled 2.85 percent, Indocement spiked 3.87 percent, Semen Indonesia jumped 1.80 percent, Indofood Suskes added 0.71 percent, United Tractors dropped 1.21 percent, Bumi Resources retreated 1.64 percent, Aneka Tambang fell 1.18 percent, Vale Indonesia skidded 2.53 percent and Timah plunged 2.61 percent.

The lead from Wall Street is cautiously optimistic as stocks showed a lack of direction Tuesday before ending slightly higher.

The Dow added 69.25 points or 0.26 percent to 26,786.68, while the NASDAQ gained 17.93 points or 0.22 percent and the S&P 500 rose 8.68 points or 0.29 percent to 2,973.01.

The choppy trading seen for most of the day came amid renewed uncertainty about global trade after the U.S. proposed new tariffs on more European goods as part of an ongoing dispute over aircraft subsidies.

While the U.S. and China have agreed to restart stalled trade talks, the news is a reminder that President Donald Trump is fighting a trade war on multiple fronts.

Crude oil prices plunged on Tuesday as concerns about global energy demand outweighed the OPEC decision to extend output cuts. West Texas Intermediate Crude oil futures for August ended down $2.84 or 4.8 percent at $56.25 a barrel, the lowest settlement in about two weeks.
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