Little Movement Seen For Indonesia Stock Market

(RTTNews) - Ahead of Monday's holiday for Independence Day, the Indonesia stock market had snapped the five-day winning streak in which it had surged more than 440 points or 5.8 percent. The Jakarta Composite Index now sits just beneath the 7,900-point plateau and it's likely to remain stuck in neutral again on Tuesday.

The global forecast for the Asian markets is murky as investors wait for developments in the conflict between Russia and Ukraine. The European and U.S. markets were mixed and flat and the Asian bourses figure to follow suit.

The JCI finished modestly lower on Friday following losses from the financial shares, cement companies and resource stocks.

For the day, the index slumped 32.88 points or 0.41 percent to finish at 7,898.38 after trading between 7,898.37 and 8,017.07.

Among the actives, Bank CIMB Niaga shed 0.58 percent, while Bank Danamon Indonesia surrendered 1.95 percent, Bank Negara Indonesia fell 0.46 percent, Bank Central Asia dropped 0.85 percent, Bank Rakyat Indonesia rallied 1.48 percent, Indosat Ooredoo Hutchison tanked 1.80 percent, Indocement lost 0.77 percent, Semen Indonesia stumbled 1.89 percent, Indofood Sukses Makmur slumped 1.23 percent, United Tractors sank 0.72 percent, Astra International declined 1.47 percent, Energi Mega Persada jumped 1.75 percent, Astra Agro Lestari retreated 1.75 percent, Aneka Tambang rose 0.35 percent, Vale Indonesia plummeted 6.11 percent, Timah tumbled 1.95 percent and Bumi Resources and Bank Mandiri were unchanged.

The lead from Wall Street offers little guidance as the major averages opened mixed but moved little, hugging the line all day and ending on opposite sides.

The Dow shed 34.30 points or 0.08 percent to finish at 44,911.82, while the NASDAQ rose 6.80 points or 0.03 percent to close at 21,629.77 and the S&P 500 eased 0.65 points or 0.01 percent to end at 6,449.15.

The choppy trading on Wall Street came as traders kept an eye on the White House, where President Donald Trump met with Ukrainian President Volodymyr Zelenskyy and other European leaders.

The meetings at the White House come after Trump's meeting with Russian President Vladimir Putin last Friday which failed to result in a concrete agreement to end the conflict in Ukraine.

On the U.S. economic front, the National Association of Home Builders reported a modest deterioration by U.S. homebuilder confidence in the month of August.

Crude oil priced climbed on Monday as investors focused their attention on the meeting between the U.S. and Ukrainian presidents amid rising geopolitical tensions surrounding the Russian invasion of Ukraine. West Texas Intermediate crude for September delivery was up $0.60 or 0.96 percent at $63.40 per barrel.