Indonesia Shares May See Additional Support On Wednesday

(RTTNews) - The Indonesia stock market on Tuesday snapped the two-day slide in which it had stumbled more than 220 points or 3.6 percent. The Jakarta Composite Index now sits just above the 6,235-point plateau and it may add to its winnings on Wednesday.

The global forecast for the Asian markets suggests mild upside, supported by oil companies and technology stocks. The European and U.S. markets finished higher and the Asian bourses are expected to open in similar fashion.

The JCI finished sharply higher on Tuesday following gains from the financial shares, cement companies, telecoms and resource stocks.

For the day, the index climbed 74.40 points or 1.21 percent to finish at 6,235.62 after trading between 6,178.49 and 6,265.30.

Among the actives, Bank CIMB Niaga improved 1.26 percent, while Bank Mandiri skyrocketed 6.28 percent, Bank Danamon Indonesia fell 0.42 percent, Bank Negara Indonesia spiked 5.26 percent, Bank Central Asia jumped 2.16 percent, Bank Rakyat Indonesia surged 4.84 percent, Bank Maybank Indonesia shed 0.53 percent, Indosat Ooredoo Hutchison rallied 3.18 percent, Indocement was up 3.90 percent, Semen Indonesia exploded 13.06 percent, Indofood Sukses Makmur increased 0.74 percent, United Tractors rose 0.55 percent, Astra International sank 0.85 percent, Energi Mega Persada soared 3.70 percent, Astra Agro Lestari dropped 0.91 percent, Aneka Tambang gained 0.63 percent, Jasa Marga strengthened 1.30 percent, Vale Indonesia accelerated 3.33 percent, Timah added 0.56 percent and Bumi Resources climbed 1.19 percent.

The lead from Wall Street is cautiously optimistic as the major averages hugged both sides of the line on Tuesday before a late push bumped them into the green at the close.

The Dow added 4.18 points or 0.01 percent to finish at 42,587.50, while the NASDAQ climbed 83.26 points or 0.46 percent to close at 18,271.86 and the S&P 500 rose 9.08 points or 0.16 percent to end at 5,776.65.

The choppy trading on Wall Street came amid ongoing uncertainty about President Donald Trump's tariff plans following recent reports he plans to take a more narrow approach to new tariffs.

Trump has recently made many conflicting remarks about his tariff plans, leading to considerable uncertainty on Wall Street.

Meanwhile, traders largely shrugged off a report from the Conference Board showing consumer confidence in the U.S. deteriorated by more than expected in the month of March.

Oil prices dipped on Tuesday on reports Russia and Ukraine have agreed to a partial ceasefire covering the Black Sea. West Texas Intermediate Crude oil futures for May closed lower by $0.11 at $69.00 a barrel.