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(RTTNews) – The Indonesia stock market has climbed higher in two straight sessions, gaining more than 95 points or 1.3 percent along the way. The Jakarta Composite Index now rests just above the 6,810-point plateau and it’s set to open higher again on Wednesday.
The global forecast for the Asian markets is positive ahead of the Federal Reserve’s monetary policy announcement later today. The European and U.S. markets were up and the Asian bourses are expected to open in similar fashion.
The JCI finished sharply higher on Tuesday following mixed performances from the financial shares and resource stocks.
For the day, the index advanced 75.86 points or 1.13 percent to finish at 6,810.32.
Among the actives, Bank Danamon Indonesia fell 0.35 percent, while Bank CIMB Niaga collected 1.67 percent, Bank Negara Indonesia improved 1.31 percent, Bank Mandiri shed 0.50 percent, Bank Rakyat Indonesia soared 2.47 percent, Indosat Ooredoo Hutchison tanked 2.22 percent, Semen Indonesia soared 3.70 percent, Indofood Suskes sank 0.72 percent, United Tractors eased 0.19 percent, Astra International rallied 2.64 percent, Energi Mega Persada dropped 0.68 percent, Astra Agro Lestari dipped 0.31 percent, Aneka Tambang skidded 1.03 percent, Vale Indonesia tumbled 1.70 percent, Bumi Resources lost 0.57 percent and Bank Central Asia, Indocement and Timah were unchanged.
The lead from Wall Street is upbeat as the major averages opened sharply higher on Tuesday, faded as the day progressed but still finished in the green.
The Dow climbed 103.60 points or 0.30 percent to finish at 34,108.64, while the NASDAQ jumped 113.08 points or 1.01 percent to close at 11,256.81 and the S&P 500 gained 29.09 points or 0.73 percent to end at 4,019.65.
The early rally on Wall Street followed the release of a Labor Department report showing consumer prices in the U.S. inched up less than expected in November.
Buying interest waned over the course of the morning, however, as traders seemed reluctant to make significant beats ahead of the Fed’s rate decision later today. The Fed is widely expected to raise interest rate by another 50 basis points, with traders likely to pay close attention to the accompanying statement for clues about the outlook for future rate hikes.
Crude oil prices rose sharply on Tuesday due to concerns about supply disruptions amid the ongoing shutdown of the Keystone pipeline following a massive leak last week, while a weak dollar also supported oil prices. West Texas Intermediate Crude oil futures for January ended higher by $2.22 or 3 percent at $75.39 a barrel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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