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Rebound Anticipated For Indonesia Stock Market

(RTTNews) - The Indonesia stock market headed south again on Monday, one session after ending the four-day losing streak in which it had stumbled more than 215 points or 4.5 percent. The Jakarta Composite Index now sits just above the 4,905-point plateau and it's bounce higher again on Tuesday.

The global forecast for the Asian markets is upbeat, with further bargain hunting expected amidst rising oil prices. The European and U.S. markets were sharply higher and the Asian bourses are tipped to also open in the green.

The JCI finished modestly lower on Monday following losses from the financial shares and resource stocks.

For the day, the index dropped 39.24 points or 0.79 percent to finish at 4,906.55 after trading between 4,905.51 and 4,991.76.

Among the actives, Bank Danamon Indonesia dropped 0.90 percent, while Bank Mandiri tanked 3.74 percent, Bank CIMB Niaga shed 0.69 percent, Bank Negara Indonesia skidded 1.30 percent, Indosat soared 4.88 percent, Indocement plunged 3.44 percent, Semen Indonesia rallied 3.69 percent, Indofood Suskes declined 1.75 percent, Astra Agro Lestari retreated 1.50 percent, Aneka Tambang lost 0.68 percent and Vale Indonesia, Timah and Bumi Resources were unchanged.
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