Higher Open Predicted For Indonesia Stock Market

(RTTNews) - The Indonesia stock market on Monday wrote a finish to the three-day winning streak in which it had jumped almost 130 points or 1.8 percent. The Jakarta Composite Index now rests just above the 7,250-point plateau and it's got a green light again for Tuesday's trade.

The global forecast for the Asian markets is flat to higher on uncertainty over the outlook for interest rates. The European markets were down and the U.S. bourses were mixed and flat and the Asian markets figure to follow the latter lead.

The JCI finished barely lower on Monday following as losses from the financial shares were offset by support among the cement companies.

For the day, the index eased 2.40 points or 0.03 percent to finish at 7,250.98.

Among the actives, Bank Mandiri tumbled 3.11 percent, while Bank Danamon Indonesia sank 0.77 percent, Bank Negara Indonesia lost 0.64 percent, Bank Central Asia collected 1.01 percent, Bank Rakyat Indonesia slumped 1.04 percent, Indocement rallied 2.68 percent, Semen Indonesia surged 6.33 percent, Indofood Sukses Makmur climbed 1.22 percent, United Tractors gained 0.84 percent, Astra International strengthened 1.31 percent, Jasa Marga shed 0.47 percent and Vale Indonesia improved 0.74 percent.

The lead from Wall Street offers little clarity as the major averages opened higher on Monday but quickly faded and spent the rest of the day bouncing back and forth across the line before ending mixed and little changed.

The Dow shed 31.08 points or 0.08 percent to finish at 39,344.79, while the NASDAQ added 50.98 points or 0.28 percent to close at a record 18,403.74 and the S&P rose 5.66 points or 0.10 percent to end at 5,572.85 - also a record.

The inconsistency on Wall Street reflected uncertainty about the outlook for interest rates ahead of several key economic events this week, including reports on consumer and producer prices.

Traders are also likely to pay close attention to Federal Reserve Chair Jerome Powell's congressional testimony this week, looking for clues about the interest rate outlook.

Oil prices fell on Monday after Hurricane Beryl forced the shutdown of some oil export facilities near Houston. West Texas Intermediate Crude oil futures for August ended down $0.83 or 1 percent at $82.33 a barrel.