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Rebound Predicted For Indonesia Stock Market

(RTTNews) - The Indonesia stock market has tracked lower in back-to-back sessions, sinking more than 125 points or 2.5 percent along the way. The Jakarta Composite Index now sits just beneath the 4,935-point plateau although it's due for a positive bounce on Wednesday.

The global forecast for the Asian markets is positive, with bargain hunting expected after days of heavy selling while optimism for additional stimulus added to the positive sentiment. The European markets were mixed and the U.S. bourses were up and the Asian markets figure to follow the latter lead.

The JCI finished sharply lower on Tuesday following losses from the financial shares, resource stocks and cement companies.

For the day, the index tumbled 65.27 points or 1.31 percent to finish at 4,934.09 after trading between 4,919.11 and 4,978.44.

Among the actives, Bank Danamon Indonesia tanked 3.04 percent, while Bank Mandiri plunged 3.20 percent, Bank CIMB Niaga tumbled 2.65 percent, Bank Negara Indonesia shed 1.09 percent, Indosat dropped 1.48 percent, Indocement fell 0.69 percent, Semen Indonesia retreated 1.90 percent, Astra Agro Lestari skidded 2.58 percent, Aneka Tambang plummeted 3.92 percent, Vale Indonesia surrendered 3.37 percent, Timah lost 2.68 percent and Indofood Suskes and Bumi Resources were unchanged.
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