Indonesia Bourse Poised To End Losing Streak

(RTTNews) - The Indonesia stock market has finished lower in four straight sessions, sinking more than 140 points or 1.9 percent along the way. The Jakarta Composite Index now sits just above the 7,280-point plateau and it's called to open to the upside on Tuesday.

The global forecast for the Asian markets is upbeat on bargain hunting and falling bond yields. The European and U.S. markets were up and the Asian bourses are expected to open in similar fashion.

The JCI finished modestly lower on Monday following losses from the resource stocks and mixed performances from the financials and cement companies.

For the day, the index sank 67.04 points or 0.91 percent to finish at 7,283.58 after trading between 7,275.17 and 7,393.13.

Among the actives, Bank CIMB Niaga rose 0.29 percent, while Bank Mandiri shed 0.39 percent, Bank Danamon Indonesia collected 0.70 percent, Bank Rakyat Indonesia slumped 2.17 percent, Indosat Ooredoo Hutchison added 0.54 percent, Semen Indonesia tumbled 1.96 percent, Indofood Suskes sank 0.78 percent, United Tractors dropped 0.97 percent, Astra International dropped 0.89 percent, Astra Agro Lestari gained 0.35 percent, Aneka Tambang retreated 1.49 percent, Vale Indonesia lost 0.70 percent, Timah declined 1.56 percent, Bumi Resources tanked 2.02 percent and Bank Central Asia, Perusahaan Persero Telekom, Indocement, Jasa Marga, Energi Mega Persada and Bank Negara Indonesia were unchanged.

The lead from Wall Street is firm as the major averages opened mixed on Monday but trended steadily upward as the day progressed and finished solidly in the green.

The Dow climbed 216.90 points or 0.58 percent to finish at 37,683.01, while the NASDAQ surged 319.70 points or 2.20 percent to end at 14,843.77 and the S&P 500 rallied 66.30 points or 1.41 percent to close at 4,763.54.

A drop in bond yields, and optimism about the outlook for stocks despite recent uncertainty about the likelihood of near-term interest rate cuts helped push stock prices up.

The Dow was weighed down by Boeing shares, which fell 8 percent after the Federal Aviation Administration ordered airlines to ground dozens of the company's 737 Max 9 aircraft after a door plug blew out in the middle of an Alaska Airlines flight on Friday.

Oil prices fell sharply on Monday as Saudi Arabia's decision to cut prices offset concerns about an escalation in the Middle East conflict. West Texas Intermediate Crude futures for February ended down $3.04 or 4.4 percent at $70.77 a barrel.