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Mild Upside Seen For Indonesia Stock Market

(RTTNews) - The Indonesia stock market bounced higher again on Monday, one session after snapping the two-day winning streak in which it had gathered more than 120 points or 2 percent. The Jakarta Composite Index now rests just above the 6,100-point plateau and it may tick higher again on Tuesday.

The global forecast for the Asian markets is murky, with little movement expected among ongoing Covid-19 concerns. The European markets were mixed and flat and the U.S. bourses were slightly higher and the Asian markets figure to split the difference.

The JCI finished barely higher on Monday following mixed performances from the resource stocks and weakness from the financial and cement companies.

For the day, the index rose 4.70 points or 0.08 percent to finish at 6,106.39 after trading between 6,091.02 and 6,137.05.

Among the actives, Bank Danamon Indonesia tanked 2.24 percent, while Bank CIMB Niaga retreated 1.55 percent, Bank Negara Indonesia shed 0.49 percent, Bank Central Asia lost 0.50 percent, Bank Mandiri plunged 2.93 percent, Bank Rakyat Indonesia declined 1.03 percent, Indosat jumped 1.58 percent, Indocement skidded 1.22 percent, Semen Indonesia tumbled 1.72 percent, Indofood Suskes rose 0.39 percent, United Tractors spiked 2.28 percent, Astra International cratered 3.64 percent, Aneka Tambang added 0.38 percent, Vale Indonesia advanced 0.93 percent, Timah plummeted 4.05 percent and Bumi Resources and Astra Agro Lestari were unchanged.
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