Indonesia Bourse Tipped To Open To The Upside On Tuesday

(RTTNews) - The Indonesia stock market has alternated between positive and negative finishes through the last four trading days since the end of the three-day winning streak in which it had advanced more than 80 points or 1 percent. The Jakarta Composite Index now rests just above the 7,775-point plateau and it's called higher again on Tuesday. The global forecast for the Asian markets suggests mild upside, largely on positive momentum amid a lack of catalysts. The European and U.S. markets were modestly higher and the Asian bourses are expected to follow suit. The JCI finished modestly higher on Monday following gains from the resource stocks, weakness from the cement companies and a mixed picture from the financial sector. For the day, the index added 32.73 points or 0.42 percent to finish at the daily high of 7,775.73 after moving as low as 7,675.29. Among the actives, Bank CIMB Niaga collected 0.25 percent, while Bank Mandiri spiked 2.05 percent, Bank Danamon Indonesia fell 0.37 percent, Bank Negara Indonesia advanced 0.87 percent, Bank Central Asia strengthened 1.62 percent, Bank Rakyat Indonesia rallied 2.33 percent, Bank Maybank Indonesia dropped 0.85 percent, Indosat Ooredoo Hutchison accelerated 2.82 percent, Indocement retreated 1.45 percent, Semen Indonesia tumbled 2.05 percent, Indofood Sukses Makmur sank 0.70 percent, United Tractors increased 0.74 percent, Energi Mega Persada surged 6.80 percent, Astra Agro Lestari improved 1.51 percent, Aneka Tambang jumped 1.82 percent, Jasa Marga added 0.61 percent, Vale Indonesia climbed 1.35 percent, Timah soared 3.47 percent, Bumi Resources skyrocketed 6.90 percent and Astra International and Perusahaan Gas Negara were unchanged.

The lead from Wall Street is cautiously optimistic as the major averages opened slightly higher on Monday and largely remained that way throughout the session, finishing with mild gains.

The Dow added 61.29 points or 0.15 percent to finish at 42,124.65, while the NASDAQ rose 25.95 points or 0.14 percent to close at 17,974.27 and the S&P 500 gained 16.02 points or 0.28 percent to end at 5,718.57.

The modest strength on Wall Street partly reflects optimism about the outlook for the economy following the Federal Reserve's interest rate cut last week.

The Fed is expected to continue lowering rates in the coming months amid signs of slowing inflation even as the economy remains relatively strong.

Overall trading activity remains somewhat subdued, however, as traders look ahead to the release of some key economic data later this week.

Crude oil prices were unable to hold early gains, slumping midday on demand concerns. West Texas Intermediate crude for October delivery fell $0.47 or 0.66 percent to $70.53 per barrel.