Win Streak May End For Indonesia Stock Market

(RTTNews) - The Indonesia stock market has moved higher in four straight sessions, advancing more than 260 points or 2.8 percent along the way. The Jakarta Composite Index now sits just above the 7,610-point plateau although investors are likely to cash in on Tuesday.

The global forecast for the Asian markets is flat with a touch of weakness ahead of the U.S. interest rate decision later this week. The European markets were down and the U.S. bourses were mixed and flat and the Asian markets figure to split the difference.

The JCI finished modestly higher again on Monday following gains from the financial shares and resource stocks, while the cement sector was mixed and food companies were soft.

For the day, the index gained 71.27 points or 0.94 percent to finish at 7,614.77 after trading between 7,614.77 and 7,669.45.

Among the actives, Bank Mandiri perked 0.21 percent, while Bank Danamon Indonesia collected 0.41 percent, Bank Negara Indonesia soared 2.93 percent, Bank Central Asia added 0.59 percent, Bank Rakyat Indonesia climbed 1.55 percent, Indosat Ooredoo Hutchison gained 0.44 percent, Indocement sank 0.95 percent, Semen Indonesia rose 0.40 percent, Indofood Sukses Makmur fell 030 percent, United Tractors strengthened 1.36 percent, Astra International rallied 2.00 percent, Energi Mega Persada spiked 1.90 percent, Astra Agro Lestari improved 0.78 percent, Vale Indonesia jumped 1.92 percent, Timah dropped 0.94 percent, Bumi Resources advanced 0.88 percent and Aneka Tambang and Bank CIMB Niaga were unchanged.

The lead from Wall Street is murky as the major averages opened mixed on Monday and finished little changed and on opposite sides of the line.

The Dow slumped 64.36 points or 0.14 percent to finish at 44,837.56, while the NASDAQ gained 70.27 points or 0.33 percent to close at a record high 21,178.58 and the S&P perked 1.13 points or 0.02 percent to end at 6,389.77, also a record.

The modest strength on Wall Street followed news the U.S. and the European Union struck a last-minute trade agreement and reports suggest the U.S. and China are likely to extend their tariff truce for another 90 days.

However, buying interest was subdued ahead of the Federal Reserve's monetary policy announcement later this week. While the Fed is widely expected to leave interest rates unchanged, the announcement could impact the outlook for rates.

The Labor Department's monthly jobs report is also likely to be in focus in the coming days along with earnings news from Magnificent Seven members Apple (AAPL), Amazon (AMZN), Microsoft (MSFT) and Meta Platforms (META).

Crude oil price surged on Monday after the US announced a tariff framework agreement with the EU, cooling fears of a big tariff war. West Texas Intermediate crude for September delivery jumped $1.72 or 2.64 percent to $66.88 per barrel.