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Win Streak May End For Indonesia Stock Market

The Indonesia stock market has moved higher in four straight sessions, gathering almost 100 points or 1.7 percent along the way. The Jakarta Composite Index now rests just above the 6,325-point plateau although investors figure to lock in gains on Wednesday.

The global forecast for the Asian markets is murky ahead of the trade deal between the United States and China that is expected to be signed later this week. The European markets were barely higher and the U.S. bourses were mixed and little changed and the Asian markets figure to split the difference.

The JCI finished modestly higher on Tuesday as gains from the financials and cement companies were tempered by weakness from the resource stocks.

For the day, the index collected 28.84 points or 0.46 percent to finish at the daily high of 6,325.41 after trading as low as 6,298.61.

Among the actives, Bank Danamon Indonesia surged 5.44 percent, while Bank Mandiri collected 0.32 percent, Bank Central Asia jumped 1.85 percent, Bank Negara Indonesia advanced 0.96 percent, Bank Rakyat Indonesia climbed 1.33 percent, Indosat tumbled 1.71 percent, Indocement gained 1.22 percent, Semen Indonesia added 1.03 percent, Indofood Suskes fell 0.31 percent, Bumi Resources sank 1.39 percent, Aneka Tambang plunged 2.30 percent, Vale Indonesia skidded 1.16 percent and Timah increased 0.58 percent.

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

The Dow added 32.62 points or 0.11 percent to finish at 28,939.67, while the NASDAQ lost 22.60 points or 0.24 percent to 9,251.33 and the S&P 500 fell 4.98 points or 0.15 percent to 3,283.15.

The choppy trading on Wall Street came as traders seemed reluctant to make big moves following quarterly results from several big-name financial companies as JPMorgan Chase (JPM) and
Citigroup (C) beat the street while Wells Fargo (WFC) missed badly.

Stocks saw some volatility in afternoon trading on reports that tariffs on billions of dollars of Chinese goods are likely to remain in place until after the U.S. elections in November.

In U.S. economic news, the Labor Department said consumer prices in the U.S. increased by slightly less than anticipated in December.

Closer to home, Indonesia will provide December figures for imports, exports and trade balance later today. In November, imports were worth $15.34 billion and exports were at $14.01 billion for a trade deficit of $1.329 billion.

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