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Higher Open Predicted For Indonesia Stock Market

(RTTNews) - The Indonesia stock market has moved higher in consecutive trading days, spiking more than 150 points or 3 percent along the way. The Jakarta Composite Index now sits just above the 5,070-point plateau and it may add to its winnings on Tuesday.

The global forecast for the Asian markets suggests a higher open, even though many of the regional bourses are significantly overbought at this point as optimism for an economic recovery continues to buoy the bourses abroad.

The JCI finished sharply higher on Monday with gains across the board, especially from the financial shares and cement stocks.

For the day, the index surged 122.78 points or 2.48 percent to finish at 5,070.56 after trading between 4,947.89 and 5,103.09.

Among the actives, Bank Danamon Indonesia surged 7.25 percent, while Bank Mandiri soared 8.25 percent, Bank Central Asia jumped 3.06 percent, Bank Negara Indonesia skyrocketed 13.65 percent, Indosat skidded 1.34 percent, Indocement climbed 3.10 percent, Semen Indonesia rallied 7.69 percent, Indofood Suskes rose 0.81 percent, Aneka Tambang accelerated 6.78 percent, Vale Indonesia dropped 0.99 percent, Timah gained 6.03 percent and Bumi Resources was unchanged.
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