The Indonesia stock market on Tuesday snapped the three-day winning streak in which it had advanced more than 75 points or 1.3 percent. The Jakarta Composite Index now rests just above the 6,010-point plateau and it figures to remain rangebound on Wednesday.
The global forecast for the Asian markets is mixed and flat ahead of OPEC and G20 meetings later this week. The European markets were down and the U.S. bourses were up and the Asian markets figure to split the difference.
The JCI finished slightly lower on Tuesday as losses from the cement and resource stocks were mitigated by support from the financial sector.
For the day, the index dipped 9.19 points or 0.15 percent to finish at 6,013.59 after trading between 5,992.88 and 6,034.18.
Among the actives, Indocement retreated 1.08 percent, while Semen Indonesia tumbled 3.43 percent, United Tractors gave away 2.36 percent, Indofood Suskes lost 0.80 percent, Unilever gained 0.30 percent, Voksel Electric spiked 3.88 percent, Bukit Darmo Property skidded 1.59 percent, Lotte Chemical dropped 1.27 percent, SLJ Global jumped 3.12 percent, Bank Pan Indonesia shed 0.82 percent, Jasa Marga added 0.76 percent, XL Axiata slid 0.45 percent, Bumi Resources plunged 3.70 percent, Vale Indonesia plummeted 2.48 percent, Aneka Tambang declined 1.65 percent, Bank Central Asia climbed 1.09 percent, Bank Mandiri advanced 1.02 percent, Bank Negara Indonesia surged 2.67 percent, Bank Rakyat Indonesia perked 1.69 percent, Indosat was up 0.99 percent and Bank MNC Internasional and Bank Danamon Indonesia were unchanged.
The lead from Wall Street is cautiously optimistic as stocks shook off a lower open on Tuesday, with bargain hunters lifting the major averages back into the green.
The Dow added 108.49 points or 0.44 percent to end at 24,748.73, while the NASDAQ gained 0.85 points or 0.01 percent to 7,082.70 and the S&P was up