(RTTNews) – Indonesia’s stock market rose again on Tuesday, one day after ending a two-day winning streak in which it gained more than 15 points or 0.2 percent. The Jakarta Composite Index is now just below the 7,190-point plateau and is expected to open upwards again on Wednesday.
The global forecast for Asian markets is positive due to continued optimism about the interest rate outlook. European and US markets rose and Asian markets are expected to open similarly.
The JCI finished modestly higher on Tuesday after gains from financial stocks and mixed performances from the cement and commodities sectors.
For the day, the index rose 68.32 points or 0.96 percent to end at a daily high of 7,187.85, after hitting a low of 7,112.82.
Among the active, Bank CIMB Niaga fell 0.30 percent, while Bank Mandiri rose 0.84 percent, Bank Syariah Indonesia gained 0.59 percent, Bank Central Asia rallied 0.54 percent, Bank Rakyat Indonesia rose 0.91 percent, Indosat Ooredoo Hutchison gained 0.53 percent and Indocement fell 1.08 percent. Semen Indonesia and Timah both rose 0.82 percent, Indofood Suskes rose 0.80 percent, United Tractors rose 0.11 percent, Astra International added 0.45 percent, Energi Mega Persada rose 5.61 percent, Astra Agro Lestari improved 0.71 percent, Aneka Tambang retreated 1.50 percent, Vale Indonesia fell 0.95 percent, Bumi Resources fell 3.37 percent and Persaaan Perusahaan Telecommunications and Bank Negara Indonesia were unchanged.
Wall Street’s lead is bullish, as the major averages opened higher on Tuesday and remained in the green throughout the session.
The Dow Jones rose 251.90 points or 0.68 percent to end at 37,557.92, while the NASDAQ advanced 98.03 points or 0.66 percent to 15,003.22 and the S&P 500 added 27.81 points or 0. Added 59 percent to end at 4,768.37.
Optimism about the interest rate outlook continued to contribute to strength on Wall Street following the Federal Reserve’s monetary policy announcement last week.
Adding to the positive sentiment, San Francisco Federal Reserve President Mary Daly said rate cuts will likely be appropriate next year due to an improvement in inflation.
In economic news, the Commerce Department reported a substantial increase in new home construction in the U.S. in November. Building permits also fell more than expected.
Oil prices rose on Tuesday, lifting gains on supply concerns after several companies diverted their ships due to attacks by Houthi militants in the Red Sea. West Texas Intermediate crude futures rose $0.97, or 1.3 percent, to $73.44 a barrel in January.
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