Indonesia Stock Market May Run Out Of Steam On Tuesday

(RTTNews) - The Indonesia stock market has finished higher in three straight sessions, climbing more than 100 points or 1.4 percent in that span. The Jakarta Composite Index now sits just above the 7,010-point plateau although investors may cash in on Tuesday.

The global forecast for the Asian markets is flat to lower, ahead of key data and an OPEC meeting later this week. The European and U.S. markets were down and the Asian bourses figure to follow suit.

The JCI finished slightly higher on Monday following mixed performances from the financial shares, cement companies and resource stocks.

For the day, the index rose 3.77 points or 0.05 percent to finish at 7,013.41 after trading between 7,008.81 and 7,061.83.

Among the actives, Bank Mandiri collected 0.43 percent, while Bank Negara Indonesia jumped 1.44 percent, Bank Central Asia shed 0.56 percent, Bank Rakyat Indonesia and Energi Mega Persada both dropped 0.93 percent, Indosat Ooredoo Hutchison climbed 1.10 percent, Indocement fell 0.27 percent, Semen Indonesia improved 1.17 percent, Indofood Suskes lost 0.39 percent, United Tractors sank 0.77 percent, Astra International tumbled 1.75 percent, Astra Agro Lestari rallied 1.42 percent, Aneka Tambang advanced 0.93 percent, Vale Indonesia retreated 1.53 percent and Timah, Bumi Resources, Bank CIMB Niaga and Bank Danamon Indonesia were unchanged.

The lead from Wall Street is soft as the major averages opened lower on Monday, improved midday but then stumbled into the close.

The Dow dropped 56.68 points or 0.16 percent to finish at 35,333.47, while the NASDAQ eased 9.83 points or 0.07 percent to close at 14,241.02 and the S&P 500 fell 8.91 points or 0.20 percent to end at 4,550.43.

The choppy trading on Wall Street came as traders seemed reluctant to make significant moves ahead of the release of some key economic data in the coming days.

Traders also were looking for additional clues about the outlook for interest rates, with optimism the Fed is done raising rates contributing to recent strength on Wall Street.

In economic news, the Commerce Department said new home sales in U.S. pulled back sharply in October after surging in September.

Crude Oil prices fell on Monday with traders speculating on the likely outcome of Thursday's OPEC meeting to discuss production cuts. West Texas Intermediate crude oil futures for January fell $0.68 or 0.9 percent at $74.86 a barrel.