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Indonesia Stock Market May See Positive Bounce

(RTTNews) - The Indonesia stock market on Monday wrote a finish to the two-day winning streak in which it had advanced more than 60 points or 1 percent. The Jakarta Composite Index now rests just above the 6,430-point plateau although it's looking at a mild rebound on Tuesday.

The global forecast for the Asian markets suggests mild upside on earnings optimism and a spike in crude oil prices. The European and U.S. markets were up and the Asian bourses are tipped to open in similar fashion.

The JCI finished modestly lower on Monday as the financial shares and resource stocks were mostly in the red.

For the day, the index sank 22.99 points or 0.36 percent to finish at 6,433.55 after trading between 6,420.35 and 6,468.25.

Among the actives, Bank Danamon Indonesia shed 0.49 percent, while Bank Mandiri skidded 1.27 percent, Bank Rakyat Indonesia collected 0.45 percent, Bank Central Asia jumped 1.45 percent, Bank Negara Indonesia lost 0.56 percent, Indosat advanced 1.09 percent, Indocement added 0.56 percent, Semen Indonesia dropped 0.99 percent, United Tractors sank 2.47 percent, Indofood Suskes retreated 1.42 percent, Aneka Tambang perked 2.13 percent, Vale Indonesia plunged 3.82 percent, Timah tumbled 2.30 percent and Bumi Resources and Astra International were unchanged.

The lead from Wall Street is positive as stocks moved higher on Monday, although buying interest was subdued and limited the upside for the major averages.

The Dow added 17.70 points or 0.07 percent to 27,171.90, while the NASDAQ gained 57.65 points or 0.71 percent to 8,204.14 and the S&P 500 rose 8.42 points or 0.28 percent to 2,985.03.

The higher close on Wall Street partly reflected optimism about upcoming earnings news, as a slew of big-name companies are due to report their quarterly results this week.

Amazon (AMZN), Coca-Cola (KO), AT&T (T), Boeing (BA), Caterpillar (CAT), Facebook (FB), Alphabet (GOOGL), Intel (INTC), McDonald's (MCD), and Twitter (TWTR) are just a few of the companies due to report their quarterly results.

Crude oil prices moved higher on Monday amid escalation in tensions in the Middle East. West Texas Intermediate Crude oil futures for August settled up $0.59 or 1.1 percent at $56.22 a barrel on the expiration day.
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