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Higher Open Predicted For Indonesia Stocks

(RTTNews) - The Indonesia stock market on Monday snapped the four-day winning streak in which it had advanced more than 220 points or 4.9 percent. The Jakarta Composite Index now sits just above the 4,600-point plateau and it may reverse its losses on Tuesday.

The global forecast for the Asian markets is optimistic, with oil and technology stocks expected to lead the way. The European markets were down and the U.S. bourses were up and the Asian markets are tipped to follow the latter lead after heavy selling a day earlier.

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

For the day, the index sank 110.92 points or 2.35 percent to finish at 4,605.49 after trading between 23,584.95 and 23,897.53.

Among the actives, Bank Danamon Indonesia shed 0.40 percent, while Bank Mandiri tumbled 3.81 percent, Bank Central Asia collected 0.97 percent, Bank Negara Indonesia tanked 4.39 percent, Indocement plunged 6.87 percent, Semen Indonesia retreated 5.35 percent, Indofood Suskes climbed 1.15 percent, Aneka Tambang declined 3.14 percent, Vale Indonesia jumped 3.11 percent, Timah sank 1.29 percent and Indosat and Bumi Resources were unchanged.
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