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Indonesia Bourse May Reverse Tuesday's Losses

The Indonesia stock market on Tuesday ended the three-day winning streak in which it had jumped more than 130 points or 2.1 percent. The Jakarta Composite Index now rests just beneath the 6,375-point plateau although it may bounce higher again on Wednesday.

The global forecast for the Asian markets is firm, thanks to another jump in the price of crude oil. The European and U.S. markets were up, and the Asian markets figure to follow that lead.

The JCI finished slightly lower on Tuesday following mixed performances from the financial shares and the resource stocks.

For the day, the index slid 12.26 points or 0.19 percent to finish at 6,373.14 after trading between 6,351.23 and 6,402.74. There were 187 decliners and 161 gainers, with 131 stocks finishing unchanged.

Among the actives, XL Axiata soared 4.36 percent, while Bank MNC Internasional spiked 3.92 percent, Jasa Marga tumbled 2.66 percent, Voksel Electric gained 0.70 percent, Tiga Pilar Sejahtera Food added 0.42 percent, Bank Danamon Indonesia skidded 1.06 percent, Bank Mandiri dipped 0.32 percent, Bumi Resources shed 0.68 percent, Vale Indonesia picked up 0.32 percent, Astra Agro Lestari climbed 1.69 percent, Indocement dropped 1.08 percent, Indofood lost 0.32 percent and Bank Pan Indonesia and Lotte Chemical were unchanged.

The lead from Wall Street is upbeat as stocks moved mostly higher on Tuesday as the major averages again climbed to new record closing highs.

The Dow rose 102.80 points or 0.41 percent to 25,385.80, while the NASDAQ inched up 6.19 points or 0.09 percent to 7,163.58 and the S&P 500 edged up 3.58 points or 0.13 percent to 2,751.29.

Stocks continued to benefit from recent upward momentum, which has lifted the markets to record highs amid optimism about the economic outlook. Continued strength in the overseas markets also contributed to buying interest.

Traders may have been reluctant to make significant moves ahead of earnings season, which start Friday with financial giants JPMorgan Chase (JPM) and Wells Fargo (WFC).

Crude oil futures continued to surge Tuesday on expectations the global oil market will soon re-balance. February WTI oil gained $1.23 or 2 percent to $62.96/bbl, the highest finish since December 2014.

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