Indonesia Bourse May Add To Its Winnings On Tuesday

(RTTNews) - The Indonesia stock market on Monday ended the two-day slide in which it had tumbled almost 140 points or 2 percent. The Jakarta Composite Index now sits just above the 7,155-point plateau and it's called higher again on Tuesday.

The global forecast for the Asian markets is flat to slightly higher ahead of Wednesday's FOMC policy announcement. The European markets were soft and the U.S. bourses were slightly higher and the Asian markets figure to split the difference.

The JCI finished sharply higher on Monday following gains from the financial shares, resource stocks and food companies.

For the day, the index jumped 119.71 points or 1.70 percent to finish at the daily high of 7,155.78 after moving as low as 7,023.12.

Among the actives, Bank CIMB Niaga rallied 2.22 percent, while Bank Mandiri spiked 2.59 percent, Bank Danamon Indonesia sank 0.74 percent, Bank Negara Indonesia collected 1.46 percent, Bank Central Asia jumped 1.82 percent, Bank Rakyat Indonesia slumped 1.24 percent, Indosat Ooredoo Hutchison advanced 0.90 percent, Indocement rose 0.33 percent, Semen Indonesia improved 0.87 percent, Indofood Sukses Makmur strengthened 2.07 percent, United Tractors soared 3.00 percent, Astra International accelerated 2.97 percent, Energi Mega Persada increased 2.97 percent, Astra Agro Lestari retreated 1.54 percent, Aneka Tambang climbed 1.25 percent, Vale Indonesia gained 2.20 percent, Timah skyrocketed 7.93 percent and Bumi Resources surged 3.09 percent.

The lead from Wall Street suggests mild upside as the major averages opened higher on Monday and stayed mostly in the green, ending slightly higher.

The Dow jumped 146.43 points or 0.38 percent to finish at 38,386.09, while the NASDAQ advanced 55.18 points or 0.35 percent to close at 15,983.08 and the S&P 500 added 16.21 points or 0.32 percent to end at 5,116.17.

The modestly higher close on Wall Street came as stocks continue to benefit from the upward momentum seen last week, which came amid a positive reaction to upbeat tech earnings.

Overall trading activity was somewhat subdued, however, as traders look ahead to the Federal Reserve's monetary policy announcement on Wednesday.

The Fed is widely expected to leave interest rates unchanged, but the accompanying statement and Fed Chair Jerome Powell's post-meeting press conference may shed additional light on the outlook for rates.

Oil futures settled lower on Monday amid worries about growth and outlook for oil demand and the rising possibility of the Federal Reserve delaying interest rate cuts. West Texas Intermediate Crude oil futures for June ended down by $1.22 or 1.45 percent at $82.63 a barrel.