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Indonesia Stock Market May Be Stuck In Neutral

The Indonesia stock market has finished higher in three straight sessions, advancing more than 180 points or 3 percent along the way. The Jakarta Composite Index now rests just beneath the 6,135-point plateau although it's expected to open under pressure on Wednesday.

The global forecast for the Asian markets is negative on continuing concerns over the trade dispute between the United States and China. The European markets were mixed and the U.S. markets were down and the Asian bourses are also tipped to open in the red.

The JCI finished barely higher on Tuesday following gains from the cement stocks, weakness from the resource companies and a mixed picture from the financials.

For the day, the index added 3.84 points or 0.06 percent to finish at 6,133.90 after trading between 6,107.64 and 6,148.37.

Among the actives, Bank Danamon Indonesia skidded 1.06 percent, while Bank Mandiri climbed 1.06 percent, Bank Central Asia shed 0.78 percent, Bank Rakyat Indonesia dropped 0.95 percent, Indosat fell 0.33 percent, Indocement jumped 1.61 percent, Semen Indonesia gained 1.52 percent, Indofood Suskes lost 0.63 percent, Bumi Resources plummeted 6.94 percent, Aneka Tambang retreated 1.90 percent, Vale Indonesia plunged 1.61 percent, Timah declined 0.68 percent and Bank Negara Indonesia was unchanged.

The lead from Wall Street is soft as stocks opened sharply lower on Tuesday, regained some ground but still finished firmly in the red.

The Dow shed 280.23 points or 1.01 percent to 27,502.81, while the NASDAQ lost 47.34 points or 0.55 percent to 8,520.64 and the S&P 500 fell 20.67 points or 0.66 percent to 3,093.20.

The early sell-off on Wall Street came amid renewed trade concerns after President Donald Trump suggested he might prefer to wait until after the 2020 elections to strike a trade deal with China.

The comments from the president added to rising trade concerns after his administration threatened to impose duties of up to 100 percent on $2.4 billion in French imports, including champagne and handbags.

After recovering from an early move to the downside, the price of crude oil fluctuated over the course of the trading day on Tuesday. Crude oil for January delivery eventually ended the day up $0.14 or 0.3 percent at $56.10 after falling as low as $55.35 a barrel.

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