Indonesia Stock Market May Be Stuck In Neutral

(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 losing streak in which it had stumbled more than 100 points or 1.4 percent. The Jakarta Composite Index now sits just above the 7,310-point plateau and it may extend its losses on Wednesday.

The global forecast for the Asian markets is flat with a touch of downside ahead of earnings news and economic data later this week. The European and U.S. markets were slightly lower and the Asian bourses figure to follow that lead.

The JCI finished slightly lower on Tuesday following losses from the financial shares and resource companies.

For the day, the index slipped 8.12 points or 0.11 percent to finish at 7,313.86 after trading between 7,293.31 and 7,347.02. Among the actives, Bank CIMB Niaga shed 0.55 percent, while Bank Mandiri skidded 1.12 percent, Bank Danamon Indonesia shed 0.77 percent, Bank Negara Indonesia dropped 0.98 percent, Bank Central Asia collected 0.74 percent, Bank Rakyat Indonesia tanked 2.44 percent, Indosat Ooredoo Hutchison tumbled 2.51 percent, Semen Indonesia retreated 1.46 percent, Indofood Sukses Makmur rallied 1.24 percent, United Tractors declined 1.78 percent, Astra International slumped 1.55 percent, Energi Mega Persada surrendered 1.80 percent, Astra Agro Lestari added 0.43 percent, Aneka Tambang plunged 1.87 percent, Vale Indonesia lost 1.06 percent, Timah gained 0.50 percent, Bumi Resources contracted 1.27 percent and Indocement was unchanged.

The lead from Wall Street ends up soft as the major averages opened higher on Tuesday and spent almost the entire session in the green before a late slump dropped them barely into negative territory.

The Dow shed 57.35 points or 0.14 percent to finish at 40,358.09, while the NASDAQ dipped 10.22 points or 0.06 percent to close at 17.997.35 and the S&P 500 fell 8.70 points or 0.16 percent to end at 5,555.71.

The choppy trading on Wall Street came as traders expressed some uncertainty about the outlook for the markets following recent volatility.

Traders may also have been reluctant to make significant moves ahead of the release of key earnings and economic news in the coming days.

Later in the week, focus is likely to shift to a report on personal income and spending in June, which includes readings on inflation said to be preferred by the Federal Reserve.

Oil prices fell to near seven-week lows on Tuesday as investors brace for a likely drop in demand. West Texas Intermediate Crude oil futures for September ended down $1.44 or 1.83 percent at $76.96 a barrel, the lowest settlement since June 7.