The Indonesia stock market has finished lower in two straight sessions, surrendering more than 80 points or 1.2 percent along the way. The Jakarta Composite Index now rests just above the 5,860-point plateau although it may rebound on Wednesday.
The global forecast for the Asian markets is upbeat after FOMC Chairman Jerome Powell’s semiannual monetary policy testimony had few surprises. The European and U.S. markets were up and the Asian markets figure to follow suit.
The JCI finished modestly lower on Tuesday following losses from the resource stocks and a mixed performance from the financials.
For the day, the index fell 43.65 points or 0.74 percent to finish at 5,861.51 after trading between 5,840.94 and 5,884.80. There were 224 decliners and 156 gainers, with 126 stocks finishing unchanged.
Among the actives, Voksel Electric plummeted 8.48 percent, while Indosat soared 6.30 percent, Lotte Chemical surged 3.47 percent, Bank Mandiri declined 3.44 percent, Vale Indonesia dropped 2.90 percent, Bumi Resources plunged 2.63 percent, Bank Danamon retreated 2.26 percent, SLJ Global tumbled 1.89 percent, XL Axiata jumped 1.87 percent, Bank Central Asia fell 1.73 percent, Jasa Marga shed 0.62 percent, Bank Pan Indonesia collected 0.60 percent and Bank MNC Internasional, Tiga Pilar Sejahtera Food and Bukit Darmo Property were unchanged.
The lead from Wall Street is positive as stocks moved higher on Tuesday as the NASDAQ set a new record closing high and the S&P 500 hit its best closing level in over five months.
The Dow rose 55.53 points or 0.22 percent to 25,119.89, the NASDAQ advanced 49.40 points or 0.63 percent to 7,855.12 and the S&P 500 added 11.12 points or 0.40 percent to 2,809.55.
The strength on Wall Street came after Fed Chair Powell said the U.S. economy has grown at a solid pace this year and noted the latest