Indonesia Stock Market May Add To Its Winnings

(RTTNews) - The Indonesia stock market has moved higher in two straight sessions, collecting almost 100 points or 1.3 percent along the way. The Jakarta Composite Index now sits just above the 6,925-point plateau and it may open to the upside again on Tuesday.

The global forecast for the Asian markets is mixed to higher on trade deal optimism. The European markets were down and the U.S. bourses were up and the Asian markets figure to follow the latter lead.

The JCI finished modestly higher again on Monday following gains from the food, resource and cement companies, while the financials were mixed.

For the day, the index gained 30.28 points or 0.44 percent to finish at 6,927.68 after trading between 6,876.26 and 6,949.28.

Among the actives, Bank CIMB Niaga fell 0.30 percent, while Bank Mandiri tanked 2.89 percent, Bank Central Asia collected 0.29 percent, Bank Rakyat Indonesia stumbled 2.35 percent, Indocement advanced 0.95 percent, Semen Indonesia surged 4.26 percent, Indofood Sukses Makmur improved 0.93 percent, United Tractors jumped 1.66 percent, Astra International climbed 1.12 percent, Energi Mega Persada tumbled 1.80 percent, Astra Agro Lestari slumped 1.28 percent, Aneka Tambang soared 3.40 percent, Vale Indonesia skyrocketed 6.81 percent, Timah accelerated 2.99 percent, Bumi Resources rallied 5.31 percent and Bank Danamon Indonesia, Bank Negara Indonesia and Indosat Ooredoo Hutchison were unchanged.

The lead from Wall Street is positive as the major averages opened higher and remained in the green throughout the session, ending near daily highs.

The Dow jumped 275.50 points or 0.63 percent to finish at 44,094.77, while the NASDAQ climbed 96.28 points or 0.47 percent to close at 20,369.73 and the S&P 500 gained 31,88 points or 0.52 percent to end at 6,204.95.

The continued strength on Wall Street came amid ongoing optimism about trade deals ahead of the impending deadline for U.S. reciprocal tariffs early next month.

Positive sentiment was also generated in reaction to news Canada has rescinded its digital services tax on American tech firms, which were initially set to begin being collected on Monday.

Crude oil prices closed lower on Monday amid a backdrop of easing Middle Eastern tensions and concerns of excess supply as OPEC plans to scale up production. West Texas Intermediate crude for August delivery closed down by $0.41 to settle at $65.11 per barrel.

Closer to home, Indonesia will see May trade data and June numbers for consumer prices later today. In April, imports jumped 21.84 percent on year and exports added an annual 5.76 percent for a trade surplus of $0.15 billion. In May, overall inflation was down 0.37 percent on month and up 1.6 percent on year, while core CPI rose an annual 2.4 percent.