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Indonesia Shares Poised To Accelerate On Tuesday

The Indonesia stock market on Monday halted the four-day losing streak in which it had surrendered almost 130 points or 3 percent. The Jakarta Composite Index now sits just above the 4,510-point plateau and it's expected to open higher again on Tuesday.

The global forecast for the Asian markets is broadly positive on optimism for a possible vaccine to counter the Covid-19 virus. The European and U.S. markets were sharply higher and the Asian bourses are tipped to follow suit.

The JCI finished barely higher on Monday following gains from the cement stocks, while the financial shares and resource companies were mixed.

For the day, the index rose 3.45 points or 0.08 percent to finish at 4,511.06 after trading between 4,487.18 and 4,527.97.

Among the actives, Bank Danamon Indonesia dropped 0.86 percent, while Bank Mandiri skidded 1.06 percent, Bank Central Asia shed 0.42 percent, Bank Negara Indonesia fell 0.30 percent, Indosat added 0.50 percent, Indocement climbed 1.41 percent, Semen Indonesia advanced 0.88 percent, Indofood Suskes sank 1.14 percent, Aneka Tambang gained 0.96 percent, Vale Indonesia rose 0.35 percent, Timah tumbled 0.87 percent and Bumi Resources was unchanged.

The lead from Wall Street is upbeat as stocks opened sharply higher on Monday and gathered even more steam as the session progressed, cutting into last week's losses.

The Dow surged 911.95 points or 3.85 percent to finish at 24,597.37, while the NASDAQ jumped 220.27 points or 2.44 percent to 9.234.83 and the S&P 500 spiked 90.21 points or 3.15 percent to end at 2,953.91.

The rally on Wall Street came after Moderna (MRNA) reported "positive" phase one results for a potential coronavirus vaccine. Shares of the firm spiked 20 percent after the bio-tech company said an early-stage human trial for a vaccine produced antibodies in all 45 participants.

Energy stocks also saw substantial strength on the day as crude oil prices moved higher on Monday on easing worries about outlook for energy demand. West Texas Intermediate crude oil futures for June ended up $2.39 or 8.1 percent at $31.82 a barrel.

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