The Indonesia stock market on Monday snapped the two-day slide in which it had fallen almost 85 points or 1.3 percent. The Jakarta Composite Index now rests just beneath the 6,015-point plateau and it’s likely to find additional support on Tuesday.
The global forecast for the Asian markets remains upbeat following last week’s better than expected employment data from the United States. The European and U.S. markets were up and the Asian markets figure to open in similar fashion.
The JCI finished modestly higher on Monday following gains from the financial shares and a mixed picture from the resource stocks.
For the day, the index advanced 31.23 points or 0.52 percent to finish at 6,014.82 after trading between 6,001.20 and 6,032.99. There were 220 decliners and 180 gainers, with 95 stocks finishing unchanged.
Among the actives, XL Axiata skyrocketed 12.86 percent, while Bank Mandiri advanced 4.61 percent, Lotte Chemical tumbled 4.60 percent, Bank MNC Internasional surged 5.56 percent, Jasa Marga soared 4.04 percent, Bank Danamon Indonesia spiked 3.43 percent, SLJ Global tumbled 3.10 percent, Voksel Electric plunged 2.22 percent, Vale Indonesia gained 1.55 percent, Bumi Resources dropped 1.52 percent, Tiga Pilar Sejahtera Food shed 0.86 percent and Bank Pan Indonesia was unchanged.
The lead from Wall Street is firm as stocks opened higher Monday and stayed that way throughout the session, allowing the NASDAQ to hit a new record closing high.
The Dow added 178.48 points or 0.72 percent to 24,813.69, the NASDAQ climbed 52.13 points or 0.69 percent to 7,606.46 and the S&P 500 rose 12.25 points or 0.45 percent to 2,746.87.
The strength on Wall Street came as traders continued to react positively to Friday’s better than expected employment data that saw the jobless rate sink to an 18-year low 3.8 percent.
Also, the Commerce Department reported a bigger than expected pullback in factory orders in April.
Crude oil prices continued to fall sharply Monday, marking the lowest finish in about two months. A stronger dollar and rumors that OPEC will exit its supply quota plan have driven oil prices into the ground over the past week or so. July WTI oil was down $1.06 or 1.6 percent to $64.75/bbl. That’s the lowest since April 9.
by RTTNews Staff Writer
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