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Indonesia Stock Market May Halt Losing Streak

The Indonesia stock market has fallen lower in three straight sessions, sliding more than 100 points or 1.7 percent along the way. The Jakarta Composite Index now rests just above the 6,350-point plateau although it may find traction on Wednesday.

The global forecast for the Asian markets is cautiously optimistic on an upbeat outlook for interest rates and mild upside in crude oil prices. The European and U.S. markets were mixed and the Asian markets are tipped to inch higher.

The JCI finished slightly lower on Tuesday following losses from the resource stocks and a mixed picture from the financial sector.

For the day, the index dipped 12.66 points or 0.20 percent to finish at 6,353.77 after trading between 6,339.97 and 6,404.43.

Among the actives, Indocement tumbled 1.98 percent, while Semen Indonesia skidded 1.20 percent, United Tractors retreated 2.33 percent, Indofood Suskes shed 0.70 percent, Unilever Indonesia climbed 1.19 percent, Bank Danamon Indonesia jumped 1.35 percent, Bank Central Asia eased 0.09 percent, Bank Mandiri dropped 1.47 percent, Bank Negara Indonesia collected 0.87 percent, Bank Rakyat Indonesia fell 0.52 percent, Indosat declined 2.20 percent, Bumi Resources sank 1.52 percent, Aneka Tambang plunged 2.51 percent, Timah plummeted 5.93 percent and Vale Indonesia was unchanged.

The lead from Wall Street is inconsistent as the major averages moved in opposite directions on Tuesday.

The Dow shed 96.22 points or 0.38 percent to finish at 25,554.66, while the NASDAQ rose 32.97 points or 0.44 percent to 7,591.03 and the S&P added 8.22 points or 0.30 percent to 2,791.52.

The loss posted by the Dow was largely due to a continued decline by Boeing (BA) after the European Union, China, the U.K. and other countries grounded the company's 737 MAX jets following the second crash in less than six months.

Meanwhile, the broader markets benefited from the release of tame inflation data, which suggests the Federal Reserve will continue to refrain from raising interest rates in the near future.

Crude oil futures ended slightly higher on Tuesday, with traders looking ahead to the weekly inventory data. West Texas Intermediate Crude oil futures for April added $0.08 or 0.1 percent at $56.87 a barrel.

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