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Firm Start Predicted For Indonesia Stock Market

The Indonesia stock market has alternated between positive and negative finishes through the last four trading days since the end of the five-day losing streak in which it had surrendered more than 190 points or 3.2 percent. The Jakarta Composite Index now rests just beneath the 6,030-point plateau although it's likely to bounce higher again on Thursday.

The global forecast for the Asian markets is upbeat on renewed optimism for a trade deal between the United States and China. The European and U.S. markets were up and the Asian markets figure to open in similar fashion.

The JCI finished slightly lower on Wednesday following losses from the financial shares and cement companies, while the resource stocks were mixed.

For the day, the index dipped 10.44 points or 0.17 percent to finish at 6,029.16 after trading between 6,017.36 and 6,047.79.

Among the actives, Bank Danamon Indonesia shed 0.43 percent, while Bank Mandiri skidded 1.15 percent, Bank Central Asia lost 0.49 percent, Bank Negara Indonesia dropped 1.10 percent, Bank Rakyat Indonesia collected 0.76 percent, Indosat fell 0.37 percent, Indocement slid 0.42 percent, Semen Indonesia and United Tractors both sank 0.87 percent, Indofood Suskes added 0.32 percent, Bumi Resources jumped 2.47 percent, Aneka Tambang surged 6.45 percent, Vale Indonesia rose 0.56 percent and Timah tumbled 1.69 percent.

The lead from Wall Street is positive as stocks moved mostly higher on Wednesday, with traders expressing renewed optimism about upcoming U.S.-China trade talks.

The Dow added 181.97 points or 0.70 percent to 26,346.01, while the NASDAQ jumped 79.96 points or 1.02 percent to 7,903.74 and the S&P 500 rose 26.34 points or 0.91 percent to 2,919.40.

The strength on Wall Street followed reports that China is still open to reaching a partial trade deal with the U.S. Negotiators aren't optimistic about securing a broad agreement but said China would accept a limited deal as long as President Donald Trump does not impose any more tariffs.

Meanwhile, traders largely shrugged off the minutes of the Federal Reserve's September monetary policy meeting, which revealed a few participants expressed concerns that the markets expect more interest rate cuts than are appropriate.

Crude oil futures settled lower Wednesday after data showed an increase in U.S. crude inventories last week. West Texas Intermediate Crude oil futures for November edged down $0.04 to $52.59 a barrel after hitting a high of $53.74 a barrel.

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