Win Streak May End For Indonesia Stock Market

(RTTNews) - The Indonesia stock market has moved higher in three straight sessions, advancing almost 100 points or 1.2 percent along the way. The Jakarta Composite Index sits just beneath the 8,140-point plateau although it's likely to open under water on Tuesday.

The global forecast for the Asian markets is mixed to lower, with support from the technology shares likely to limit the downside. The European markets were down and the U.S. bourses were mixed and the Asian markets figure to split the difference.

The JCI finished slightly higher on Monday as gains from the cement and energy companies were offset by weakness from the financial shares and resource stocks.

For the day, the index gained 21.59 points or 0.27 percent to finish at 8,139.89 after trading between 8,104.55 and 8,176.31.

Among the actives, Bank CIMB Niaga fell 0.29 percent, while Bank Mandiri skidded 1.16 percent, Bank Danamon Indonesia shed 0.42 percent, Bank Negara Indonesia dropped 0.99 percent, Bank Central Asia slipped 0.33 percent, Bank Rakyat Indonesia sank 0.81 percent, Indosat Ooredoo Hutchison stumbled 2.95 percent, Indocement rallied 3.44 percent, Indofood Sukses Makmur lost 0.70 percent, United Tractors was down 0.38 percent, Energi Mega Persada soared 3.66 percent, Astra Agro Lestari plummeted 5.02 percent, Aneka Tambang slumped 0.31 percent, Vale Indonesia declined 0.91 percent, Bumi Resources crashed 6.83 percent and Semen Indonesia, Astra International and Timah were unchanged.

The lead from Wall Street is soft as the major averages opened mixed on Monday and ultimately finished on opposite sides of the line and little changed,

The Dow shed 63.31 points or 0.14 percent to finish at 46,694.97, while the NASDAQ gained 161.16 points or 0.71 percent to end at a record 22,941.67 and the S&P 500 rose 24.49 points or 0.36 percent to close at 6,740.49, also a record.

The strength in the markets largely reflected a rally by semiconductor stocks, with the Philadelphia Semiconductor index surging by 2.9 percent to a record closing high.

Significant strength was also visible among gold and software stocks, while housing and commercial real estate stocks moved notably lower over the course of the session.

Meanwhile, traders continued to shrug off concerns about the economic impact of the ongoing government shutdown, which entered its sixth day amid little signs of progress toward a deal on a temporary spending bill.

Crude oil prices surged on Monday as OPEC's output increase for November turned out to be lower than expected and relieved concerns of oversupply. West Texas Intermediate crude for November delivery was up $0.73 or 1.20 percent at $61.61 per barrel.