(RTTNews) - The Indonesia stock market has alternated between positive and negative finishes through the last four trading days since the end of the two-day winning streak in which it had collected more than 45 points or 0.7 percent. The Jakarta Composite Index now rests just beneath the 7,050-point plateau and it's tipped to open higher again on Tuesday.
The global forecast for the Asian markets is cautiously optimistic, with technology stocks expected to lead the way higher. The European markets were mixed and the U.S. bourses were up and the Asian markets figure to split the difference. The JCI finished modestly higher on Monday following gains from the financials and mixed performances from the cement and resource stocks. For the day, the index climbed 47.07 points or 0.67 percent to finish at 7,049.60 after trading between 6,987.22 and 7,051.54. Among the actives, Bank Danamon Indonesia spiked 2.98 percent, while Bank Negara Indonesia soared 3.34 percent, Bank Central Asia slumped 0.63 percent, Bank Mandiri collected 0.32 percent, Bank Rakyat Indonesia rose 0.42 percent, Indosat shed 0.48 percent, Indocement dropped 0.91 percent, Semen Indonesia surged 4.23 percent, Indofood Suskes added 0.43 percent, United Tractors climbed 1.04 percent, Astra International skyrocketed 4.63 percent, Bakrie Sumatera Plantations sank 0.83 percent, Astra Agro Lestari jumped 1.97 percent, Aneka Tambang retreated 1.13 percent, Vale Indonesia stumbled 1.46 percent, Timah gained 0.54 percent, Bumi Resources strengthened 1.72 percent and Bank CIMB Niaga and Energi Mega Persada were unchanged.
The lead from Wall Street is positive as the major averages shook off early sluggishness and picked up steam later in the day, ending near session highs.
The Dow advanced 94.65 points or 0.27 percent to finish at 34,955.89, while the NASDAQ surged 185.60 points or 1.31 percent to close at 14,354.90 and the S&P 500 gained 32.46 points or 0.71 percent to end at 4,575.52.
The late rally on Wall Street was fueled largely by technology stocks, despite the rising prospects of aggressive monetary tightening by the Federal Reserve to rein in inflation.
In geopolitical news, Russia and Ukraine are set to resume diplomatic talks later today in Turkey. Russia has reportedly signaled that it may scale down its war and aims to concentrate on eastern Ukraine.
Crude oil prices fell on Monday amid concerns about outlook for energy demand from the world's largest oil importer after Shanghai announced fresh lockdowns to curb the spread of Covid-19 infections in the country. West Texas Intermediate Crude oil futures for May ended down by $7.94 or 7 percent at $105.96 a barrel.
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