Indonesia Bourse May Crack Resistance At 5,000 Points

(RTTNews) - The Indonesia stock market has finished higher in two of three trading days since the end of the three-day slide in which it had stumbled more than 210 points or 4.4 percent. The Jakarta Composite Index now sits just above the 4,985-point plateau and it's expected to open higher again on Wednesday.

The global forecast for the Asian markets is broadly positive on optimism for a quicker than expected economic recovery following the Covid-19 shutdown. The European and U.S. markets were firmly higher and the Asian bourses are tipped to open in similar fashion.

The JCI finished sharply higher on Tuesday following gains from the financials, resource stocks and cement companies.

For the day, the index soared 170.12 points or 3.53 percent to finish at 4,986.46 after trading between 4,821.48 and 4,989.53.

Among the actives, Bank Danamon Indonesia climbed 3.69 percent, while Bank Mandiri spiked 6.46 percent, Bank Central Asia jumped 4.73 percent, Bank Negara Indonesia skyrocketed 9.76 percent, Indosat accelerated 5.78 percent, Indocement rallied 7.05 percent, Semen Indonesia gained 3.18 percent, Indofood Suskes advanced 3.23 percent, Aneka Tambang soared 7.96 percent, Vale Indonesia surged 9.89 percent, Timah exploded 15.04 points higher and Bumi Resources was unchanged.
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