Indonesia Stock Market Due For Consolidation

(RTTNews) - The Indonesia stock market has tracked higher in two straight sessions, gathering almost 30 points or 0.5 percent along the way. The Jakarta Composite Index now rests just above the 6,280-point plateau although it's tipped to open in the red on Wednesday.

The global forecast for the Asian markets suggests mild consolidation ahead of the Federal Reserve's highly anticipated monetary policy announcement later today. The European and U.S. markets were slightly lower and the Asian bourses are expected to follow suit.

The JCI finished modestly higher on Tuesday following gains from the cement stocks and mixed performances from the financials and resource companies.

For the day, the index gained 15.75 points or 0.25 percent to finish at the daily high of 6,281.14 after moving as low as 6,245.94.

Among the actives, Bank Mandiri climbed 1.43 percent, while Bank Central Asia collected 0.24 percent, Bank Negara Indonesia shed 0.64 percent, Indosat lost 0.32 percent, Indocement advanced 1.25 percent, Semen Indonesia added 0.39 percent, Indofood Suskes plunged 2.60 percent, Bumi Resources plummeted 5.05 percent, Aneka Tambang gained 1.09 percent, Vale Indonesia surged 4.23 percent and Timah, Bank Danamon Indonesia and Bank Rakyat Indonesia were unchanged.
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