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Indonesia Stock Market Overdue For Support On Wednesday.

The Indonesia stock market has moved lower in four straight sessions, sliding more than 120 points or 1.9 percent along the way. The Jakarta Composite Index now rests just above the 6,425-point plateau although it's tipped to find traction on Wednesday.

The global forecast for the Asian markets is upbeat on signs the United States government may avoid another shutdown. The European and U.S. markets were up and the Asian bourses are predicted to follow that lead.

The JCI finished sharply lower on Tuesday following losses from the food, cement, finance and resource stocks.

For the day, the index tumbled 68.68 points or 1.06 percent to finish at 6,426.33 after trading between 6,392.24 and 6,513.10.

Among the actives, Semen Indonesia dropped 1.40 percent, while United Tractors tumbled 2.17 percent, Indofood Suskes skidded 1.94 percent, Unilever Indonesia added 0.46 percent, Holcim Indonesia gained 0.75 percent, Bank Central Asia shed 0.64 percent, Bank Mandiri retreated 2.62 percent, Bank Negara Indonesia lost 1.66 percent, Bank Rakyat Indonesia fell 0.52 percent, Indosat plummeted 7.39 percent, Bumi Resources skyrocketed 12.16 percent, Aneka Tambang plunged 2.04 percent, Vale Indonesia declined 0.83 percent, Timah was down 1.13 percent and Indocement and Bank Danamon Indonesia were unchanged.

The lead from Wall Street is broadly positive as stocks moved sharply higher on Tuesday, hitting their best closing levels in two months.

The Dow climbed 372.65 points or 1.49 percent to 25,425,76, the NASDAQ jumped 106.71 points or 1.46 percent to 7,414.62 and the S&P 500 added 34.93 points or 1.29 percent to 2,744.73.

The rally on Wall Street came amid optimism lawmakers will avoid another government shutdown after negotiators reached a tentative agreement on border security. Lawmakers face a deadline of midnight Friday to pass a spending bill and avoid another government shutdown.

Optimism about this week's next round of U.S.-China trade talks also contributed to the strength on Wall Street as President Donald Trump may defer his deadline for raising tariffs.

Crude oil prices surged higher Tuesday on hopes OPEC-led production cuts and the U.S. sanctions on Iran and Venezuela will tighten crude supply in the global market. West Texas Intermediate Crude oil futures for March ended up $0.69 or 1.3 percent at $53.10 a barrel.

Closer to home, Indonesia will release January numbers for imports, exports and trade balance later today. In December, imports were worth $15.28 billion and exports were at $14.18 billion for a trade deficit of $1.1 billion.

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