Higher Open Anticipated For Indonesia Shares

(RTTNews) - Ahead of long holiday weekend for Wesak Day, the Indonesia stock market had bounced higher again, one session after ending the eight-day winning streak in which it had rallied more than 210 points or 3.2 percent. The Jakarta Composite Index now rests just above the 6,830-point plateau and it's looking at a solid lead for Wednesday's trade.

The global forecast for the Asian markets is mixed to higher on better-than-expected inflation data. The European and U.S. markets were mostly higher and the Asian bourses figure to follow that lead.

The JCI finished barely higher on Friday following gains from the food sector, weakness from the cement companies and mixed performances from the financial shares and resource stocks.

For the day, the index perked 5.05 points or 0.07 percent to finish at 6,832.80 after trading between 6,811.77 and 6,882.32.

Among the actives, Bank CIMB Niaga fell 0.29 percent, while Bank Mandiri shed 0.42 percent, Bank Danamon Indonesia collected 0.84 percent, Bank Negara Indonesia lost 0.49 percent, Bank Central Asia rose 0.28 percent, Bank Rakyat Indonesia strengthened 1.32 percent, Indosat Ooredoo Hutchison tanked 2.41 percent, Indocement stumbled 2.44 percent, Semen Indonesia plunged 3.21 percent, Indofood Sukses Makmur rallied 3.03 percent, United Tractors skidded 1.05 percent, Astra Agro Lestari slumped 1.27 percent, Aneka Tambang spiked 2.68 percent, Vale Indonesia soared 3.62 percent, Timah tumbled 1.75 percent, Bumi Resources retreated 1.79 percent and Astra International and Energi Mega Persada were unchanged.

The lead from Wall Street is mixed as the Dow opened in the red and remained there throughout, while the NASDAQ and S&P 500 were in positive territory from start to finish.

The Dow slumped 269.67 points or 0.64 percent to finish at 42,140.43, while the NASDAQ surged 301.74 points or 1.61 percent to close at 19,010.08 and the S&P 500 gained 42.36 points or 0.72 percent to end at 5,886.55.

The continued strength in the broader markets followed the release of a Labor Department report showing consumer prices in the U.S. rose less than expected in April.

The slightly tamer-than-expected inflation data eased concerns about President Donald Trump's new tariffs on U.S. trade partners leading to higher prices.

Meanwhile, a steep drop by shares of UnitedHealth (UNH) weighed on the Dow, with the healthcare giant plunging by 17.8 percent after the company suspended its full-year guidance.

Crude oil prices showed another significant move to the upside on Tuesday, reaching its highest closing level in almost a month on optimism about the outlook for demand. West Texas Intermediate crude for June delivery surged $1.72 or 2.8 percent to $63.67 a barrel.