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Flat Lead Called For Indonesia Stock Market

The Indonesia stock market on Tuesday halted the three-day slide in which it had stumbled almost 115 points or 2 percent. The Jakarta Composite Index now rests just above the 6,260-point plateau and it's expected to see little movement on Wednesday.

The global forecast for the Asian markets is murky thanks to ambiguity regarding trade and interest rates. The European markets were slightly higher and the U.S. bourses were mixed and little changed and the Asian markets figure to see little movement as well.

The JCI finished sharply higher on Tuesday following gains from the financial shares and the resource stocks.

For the day, the index spiked 83.81 points or 1.36 percent to finish at the daily high of 6,264.15 after moving as low as 6,195.30.

Among the actives, Bank Danamon Indonesia tumbled 1.63 percent, while Bank Mandiri surged 4.73 percent, Bank Central Asia climbed 1.35 percent, Bank Negara Indonesia advanced 1.31 percent, Bank Rakyat Indonesia soared 3.37 percent, Indosat accelerated 1.88 percent, Indocement gained 1.65 percent, Semen Indonesia sank 1.77 percent, Indofood Suskes perked 2.56 percent, Bumi Resources added 2.44 percent, Aneka Tambang fell 0.60 percent, Vale Indonesia rose 1.11 percent and Timah gathered 1.81 percent.

The lead from Wall Street offers little clarity as stocks showed a lack of direction on Tuesday, bouncing back and forth across the unchanged line before ending mixed.

The Dow added 30.52 points or 0.11 percent to 27,492.63, while the NASDAQ rose 1.48 points or 0.02 percent to 8,434.60 and the S&P 500 fell 3.65 points or 0.12 percent to 3,074.62.

The early strength on Wall Street came amid continued optimism about a potential U.S.-China trade deal, with President Donald Trump and Chinese President Xi Jinping expected to sign phase one of an agreement sometime this month.

Buying interest was subdued, however, as traders wait for more concrete developments before continuing to buy stocks following the recent run to record highs.

But stocks ebbed following a report from the Institute for Supply Management showing better than expected growth in the U.S. service sector in October. The data raised concerns about the outlook for interest rates after the Federal Reserve said last week it's putting further rate cuts on hold.

Crude oil for December delivery is extending to recent gains on continued optimism about the outlook for global demand. West Texas Intermediate advanced $0.70 or 1.24 percent to $57.22.

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