Mild Upside Seen For Indonesia Stock Market

Ahead of Wednesday’s holiday for Isra Miraj, the Indonesia stock market on Tuesday had snapped the two-day slide in which it had stumbled almost 30 points or 0.4 percent. The Jakarta Composite Index now rests just above the 6,475-point plateau and it may tick higher again on Thursday.

The global forecast for the Asian markets is upbeat on optimism over U.S.-China trade talks. The European and U.S. markets were firmly higher and the Asian bourses are tipped to open in similar fashion.

The JCI finished modestly higher on Tuesday as gains from the financials and food stocks were tempered by weakness from the resource stocks.

For the day, the index climbed 23.46 points or 0.36 percent to finish at 6,476.07 after trading between 6,454.98 and 6,490.07.

Among the actives, Bank Danamon Indonesia jumped 1.86 percent, while Bank Central Asia gained 0.46 percent, Bank Mandiri added 0.34 percent, Bank Rakyat Indonesia collected 0.24 percent, Bank Negara Indonesia rose 0.27 percent, Indosat tumbled 2.51 percent, Indocement perked 0.68 percent, Semen Indonesia skidded 1.45 percent, United Tractors sank 2.11 percent, Unilever advanced 1.13 percent, Indofood Suskes shed 0.80 percent, Aneka Tambang plunged 2.13 percent, Vale Indonesia plummeted 2.80 percent, Timah surged 6.06 percent and Bumi Resources was unchanged.

The lead from Wall Street is positive as stocks opened higher Wednesday, faded a bit in the afternoon but still ended firmly in the green.

The Dow added 39.00 points or 0.15 percent to 26,218.13, while the NASDAQ gained 46.86 points or 0.60 percent to 7,895.55 and the S&P 500 rose 6.16 points or 0.21 percent to 2,873.40.

The higher close on Wall Street came on optimism about the latest round of trade talks between U.S. and Chinese trade representatives. Reports suggest that most of the issues standing in the way of a deal have

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