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Indonesia Bourse Tipped To Open In The Green

The Indonesia stock market has moved higher in three straight sessions, advancing more than 110 points or 2.4 percent along the way. The Jakarta Composite Index now sits just above the 4,625-point plateau and it's called higher again on Wednesday.

The global forecast for the Asian markets is broadly positive on optimism for economic recovery as economies continue to reopen. The European and U.S. markets were up and the Asian bourses are tipped to open in similar fashion.

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

For the day, the index jumped 80.85 points or 1.78 percent to finish at 4,526.80 after trading between 4,541.83 and 4,634.65.

Among the actives, Bank Danamon Indonesia spiked 5.02 percent, while Bank Mandiri collected 0.74 percent, Bank Central Asia accelerated 4.30 percent, Bank Negara Indonesia added 0.83 percent, Indosat soared 6.84 percent, Indocement gathered 3.02 percent, Semen Indonesia rose 0.59 percent, Indofood Suskes plummeted 6.61 percent, Aneka Tambang jumped 1.92 percent, Vale Indonesia increased 2.70 percent, Timah surged 4.78 percent and Bumi Resources was unchanged.

The lead from Wall Street is upbeat as stocks opened firmly higher on Tuesday and remained well in the green throughout the session.

The Dow surged 529.95 points or 2.17 percent to finish at 24,995.11, while the NASDAQ added 15.63 points or 0.17 percent to 9,340.22 and the S&P 500 rose 36.32 points or 1.23 percent to end at 2,991.77.

The rally on Wall Street was fueled by optimism for a possible vaccine for the Covid-19 virus as U.S. biotech company Novavax said Monday it started the first human study of its experimental coronavirus vaccine and that it expects initial results on safety and immune responses in July.

There was also a positive reaction to news that several states are continuing to relax lockdown restrictions and reopening more businesses.

Crude oil prices moved higher on Tuesday amid rising optimism for improved energy demand. West Texas Intermediate Crude oil futures for July ended up $1.10 or 3.3 percent at $34.35 a barrel.

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