Lower Open Anticipated For Indonesia Stock Market

(RTTNews) - Ahead of the long holiday weekend for Eid-al-Adha, the Indonesia stock market had moved higher in back-to-back sessions, gathering almost 70 points or 1 percent along the way. The Jakarta Composite Index now rests just above the 7,110-point plateau although it's likely to open under pressure on Tuesday. The global forecast for the Asian markets is murky ahead of key upcoming talks between the United States and China. The European markets were down and the U.S. bourses were flat and the Asian markets figure to split the difference. The JCI finished modestly higher on Thursday following gains from the financials and mixed performances from the resource and cement companies. For the day, the index added 44.39 points or 0.63 percent to finish at 7,113.42 after trading between 7,083.89 and 7,136.64. Among the actives, Bank CIMB Niaga sank 0.87 percent, while Bank Mandiri climbed 1.00 percent, Bank Negara Indonesia spiked 2.79 percent, Bank Central Asia shed 0.56 percent, Bank Rakyat Indonesia collected 0.49 percent, Indosat Ooredoo Hutchison added 0.48 percent, Indocement advanced 0.98 percent, Semen Indonesia tumbled 1.79 percent, Indofood Sukses Makmur dropped 0.91 percent, United Tractors perked 0.12 percent, Energi Mega Persada plunged 4.24 percent, Astra Agro Lestari retreated 1.26 percent, Aneka Tambang tanked 2.82 percent, Vale Indonesia plummeted 4.13 percent, Timah rallied 2.07 percent, Bumi Resources soared 2.50 percent and Astra International and Bank Danamon Indonesia were unchanged.

The lead from Wall Street is pedestrian as the major averages opened lower on Monday, moved into the green by midday but faded going into the close to end mixed and little changed.

The Dow dipped 1.11 points or 0.00 percent to finish at 42,761.76, while the NASDAQ added 61.28 points or 0.31 percent to close are 19,591.24 and the S&P 500 perked 5.52 points or 0.09 percent to end at 6,005.88.

The choppy trading on Wall Street came as traders awaited any news of U.S.-China trade talks that in London later today that could help ease trade tensions between the two superpowers. While most of the major sectors ended the day showing only modest moves, semiconductor stocks moved sharply higher on the day, driving the Philadelphia Semiconductor Index up by 2.0 percent to its best closing level in over three months.

Crude oil rose on Monday due to hopes sparked by US-China trade talks and that the nearing summer travel season may boost energy demand. West Texas Intermediate crude for July delivery settled at $65.29 per barrel, up 71 cents, the highest since April 3.