Indonesia Shares Due For Support On Tuesday

(RTTNews) - The Indonesia stock market has moved lower in two straight sessions, sinking almost 275 points or 3.6 percent in that span. The Jakarta Composite Index now rests just above the 6,900-point plateau although it's likely to stop the bleeding on Tuesday. The global forecast for the Asian markets is mixed with a touch of upside as ambiguity continues to reign in the Middle East. The European markets were mixed and the U.S. bourses were slightly higher and the Asian markets figure to split the difference. The JCI finished modestly lower on Monday following losses from the financial shares and telecoms, while the resource and cement companies were mixed. For the day, the index slumped 63.78 points or 0.92 percent to finish at 6,905.62 after trading between 6,846.63 and 7,001.68. Among the actives, Bank CIMB Niaga tumbled 1.78 percent, while Bank Mandiri eased 0.07 percent, Bank Danamon Indonesia rallied 4.21 percent, Bank Negara Indonesia skidded 1.04 percent, Bank Central Asia shed 0.40 percent, Bank Rakyat Indonesia stumbled 1.84 percent, Indosat Ooredoo Hutchison tanked 2.68 percent, Indocement spiked 2.96 percent, Semen Indonesia dropped 0.96 percent, Indofood Sukses Makmur sank 0.72 percent, United Tractors slumped 0.82 percent, Astra International soared 3.86 percent, Energi Mega Persada cratered 3.55 percent, Astra Agro Lestari jumped 1.86 percent, Aneka Tambang vaulted 1.93 percent, Vale Indonesia skyrocketed 11.06 percent, Timah strengthened 2.01 percent and Bumi Resources lost 1.85 percent.

The lead from Wall Street suggests mild upside as the major averages opened mixed on Monday and largely hugged the line throughout the session, finishing with slight gains.

The Dow climbed 95.31 points or 0.19 percent to finish at 49,704.47, while the NASDAQ added 27.05 points or 0.10 percent to close at a record 26,274.13 and the S&P 500 rose 13.19 points or 0.19 percent to end at 7,412.84, also a record.

The choppy trading on Wall Street came as traders expressed some uncertainty about the near-term outlook for the markets following recent strength.

Crude oil futures surged after President Donald Trump rejected Iran's response to a U.S. proposal to end the months-long war, calling it "totally unacceptable" in a post on Truth Social. West Texas Intermediate crude for June delivery was up $3.33 or 3.49 percent at $98.75 per barrel.

Trump later told reporters the U.S.-Iran ceasefire is on "life support" amid the ongoing dispute, describing the state of the truce "unbelievably weak."

However, U.S. markets have recently been able to shrug off concerns about the impact of the Middle East conflict amid upbeat earnings news.