Higher Open Predicted For Indonesia Stock Market

(RTTNews) - The Indonesia stock market has finished higher in two of three trading days since the end of the three-day losing streak in which it had stumbled more than 180 points or 2.6 percent. The Jakarta Composite Index now sits just above the 7,070-point plateau and it's got a firm lead for Wednesday's trade.

The global forecast for the Asian markets is upbeat on easing concerns of a trade war. The European markets were mixed and the U.S. bourses were up and the Asian markets figure to split the difference.

The JCI finished modestly higher on Tuesday following gains from the food and cement sectors, while the financials and resource stocks were mixed.

For the day, the index added 43.40 points or 0.62 percent to finish at 7,073.46 after trading between 7,037.62 and 7,125.94. Among the actives, Bank CIMB Niaga shed 0.58 percent, while Bank Mandiri tanked 2.16 percent, Bank Danamon Indonesia collected 0.79 percent, Bank Negara Indonesia retreated 1.67 percent, Bank Central Asia tumbled 1.87 percent, Bank Rakyat Indonesia rose 0.24 percent, Indosat Ooredoo Hutchison added 0.45 percent, Semen Indonesia soared 4.35 percent, Indofood Sukses Makmur advanced 0.98 percent, Astra International improved 0.84 percent, Energi Mega Persada dropped 0.96 percent, Astra Agro Lestari fell 0.43 percent, Aneka Tambang rallied 1.45 percent, Vale Indonesia sank 0.70 percent, Timah gained 0.52 percent and Bumi Resources, Bank Maybank Indonesia , Indocement and United Tractors were unchanged.

The lead from Wall Street is positive as the major averages opened mixed on Tuesday but trended upward throughout the session to finish solidly in the green and at session highs.

The Dow climbed 134.13 points or 0.30 percent to finish at 44,556.04, while the NASDAQ rallied 262.06 points or 1.35 percent to close at 19,654.02 and the S&P 500 gained 43.31 points or 0.72 percent to end at 6,037.88.

The strength on Wall Street partly reflected easing concerns about a global trade war after President Donald Trump agreed to pause 25 percent tariffs on imports from Mexico and Canada for a month.

Positive sentiment was also generated in reaction to a report from the Labor Department showing job openings in the U.S. fell by much more than expected in December.

The data led to some optimism about the outlook for interest rates ahead of the release of the Labor Department's more closely watched monthly jobs report on Friday.

Oil prices fell on Tuesday as Trump agreed to postpone levies on Canada and Mexico's exports to the United States. West Texas Intermediate Crude oil futures for March settled at $72.70 a barrel, down $0.46 or about $0.63 percent.