Win Streak May Continue For Indonesia Stock Market

(RTTNews) - The Indonesia stock market has moved higher in back-to-back sessions, collecting almost 35 points or 0.5 percent along the way. The Jakarta Composite Index now rests just shy of the 7,250-point plateau and it has a positive lead for Thursday's trade.

The global forecast for the Asian markets is cautiously optimistic as traders look to add window dressing ahead of the year's end. The European and U.S. markets were slightly higher and the Asian bourses figure to follow suit.

The JCI finished slightly higher on Wednesday following gains from the financial shares and resource stocks.

For the day, the index rose 8.40 points or 0.12 percent to finish at 7,245.92 after trading between 7,239.66 and 7,293.52.

Among the actives, Bank CIMB Niaga gained 0.60 percent, while Bank Mandiri collected 0.42 percent, Bank Negara Indonesia rose 0.48 percent, Bank Central Asia added 0.54 percent, Bank Rakyat Indonesia sank 0.88 percent, Indosat Ooredoo Hutchison fell 0.27 percent, Indofood Suskes rallied 1.20 percent, Energi Mega Persada and United Tractors both jumped 1.82 percent, Aneka Tambang soared 4.20 percent, Vale Indonesia strengthened 1.64 percent, Timah surged 3.20 percent, Bumi Resources spiked 2.35 percent and Astra International, Bank Danamon Indonesia, Astra Agro Lestari, Indocement, Semen Indonesia and Perusahaan Gas Negara were unchanged.

The lead from Wall Street is mildly positive as the major averages opened higher on Wednesday, slipped in and out of the red before finishing with modest gains.

The Dow climbed 111.19 points or 0.30 percent to finish at a record 37,656.52, while the NASDAQ added 24.60 points or 0.16 percent to close at 15,099.18 and the S&P 500 rose 6.83 points or 0.14 percent to end at 4,781.58.

The uptick by stocks came as treasury yields moved notably lower over the course of the session, with the yield on the benchmark ten-year note falling to its lowest level in five months.

Treasury yields saw further downside after the Treasury Department revealed this month's auction of $58 billion worth of five-year notes attracted average demand.

The decrease in treasury yields has added to optimism about the outlook for interest rates, generating renewed buying interest on Wall Street.

Oil prices fell Wednesday on reports that shipping companies have resumed travel via the Suez Canal and Red Sea again after a geopolitical pause. West Texas Intermediate Crude oil futures for February sank $1.46 or 1.9 percent at $74.11 a barrel.