Little Movement Expected For Indonesia Stock Market

(RTTNews) - The Indonesia stock market has alternated between positive and negative finishes through the last four trading days since the end of the two-day losing streak in which it had fallen more than 60 points or 1 percent. The Jakarta Composite Index now sits just above the 6,680-point plateau and it's likely to be rangebound again on Wednesday.

The global forecast for the Asian markets suggests little movement amidst a lack of catalysts and ahead of key U.S. employment data later this week. The European markets were slightly lower and the U.S. bourses were closed for the Independence Day holiday and the Asian markets figure to see a steady start.

The JCI finished modestly lower on Tuesday following losses from the financials and a mixed performance from the resource stocks.

For the day, the index sank 14.96 points or 0.22 percent to finish at 6,681.75.

Among the actives, Bank CIMB Niaga shed 0.62 percent, while Bank Mandiri tumbled 1.87 percent, Bank Danamon Indonesia collected 1.32 percent, Bank Negara Indonesia slumped 1.36 percent, Bank Central Asia slid 0.28 percent, Bank Rakyat Indonesia was down 0.46 percent, Indosat Ooredoo Hutchison spiked 1.70 percent, Indocement dropped 0.78 percent, Indofood Suskes rallied 1.72 percent, United Tractors perked 0.22 percent, Astra International sank 0.73 percent, Aneka Tambang rose 0.25 percent, Vale Indonesia lost 0.40 percent, Timah gained 0.55 percent, Bumi Resources retreated 1.69 percent and Astra Agro Lestari, Semen Indonesia and Energi Mega Persada were unchanged.

There is no lead from Wall Street, although the European markets saw mild consolidation on disappointing economic data, while Canadian shares ticked slightly higher on gains from energy companies.

Traders will look to the minutes of the latest U.S. Federal Reserve meeting later today, along with the Labor Department's closely watched monthly jobs report on Friday.

Recent data has pointed to a resilient U.S. economy, while slowing inflation has added to optimism about the outlook for interest rates. The Fed is still widely expected to raise interest rates by a quarter point later this month, but traders are hopeful that will be end of the rate-hiking cycle.