Indonesia Bourse May Test Support At 5,100 Points

(RTTNews) - The Indonesia stock market bounced higher again on Tuesday, one session after it had halted the three-day winning streak in which it had collected more than 115 points or 2.2 percent. The Jakarta Composite Index settled just below the 5,140-point plateau, although the market may track lower again on Wednesday.

The global forecast for the Asian markets is murky, thanks to conflicting data from the United States and slightly overbought markets that suggest profit taking. The European markets were higher and the U.S. bourses were mixed but little changed - and the Asian markets figure to follow the latter lead.

The JCI finished slightly higher on Tuesday following mixed performances from the financial shares and the resource stocks.

For the day, the index gained 13.30 points or 0.26 percent to finish at 5,139.07 after trading between 5,139.06 and 5,151.37. Volume was 12.12 billion shares worth 6.83 trillion rupiah.

Among the actives, Astra Agro Lestari climbed 1.42 percent, while Aneka Tambang surged 4.06 percent, Bank Central Asia collected 0.57 percent, Bank Negara shed 0.82 percent, Bank Danamon Indonesia collected 0.80 percent, Bank Mandiri eased 0.24 percent, Bumi Resources plummeted 7.69 percent, Energi Mega Persada tumbled 5.61 percent and XL Axiata dropped 2.75 percent.

The lead from Wall Street provides little clarity as stocks turned in a lackluster performance on Tuesday following the release of a mixed batch of U.S. economic data. Despite the choppy trading, the Dow closed above 18,000 for the first time and set a new record closing high along with the S&P 500.

The NASDAQ fell 16.00 points or 0.3 percent to 4,765.42, while the Dow climbed 64.73 points or 0.4 percent to 18,024.17 and the S&P 500 edged up 3.63 points or 0.2 percent to 2,082.17.

Early buying interest was generated by a report from the Commerce Department showing much stronger than previously estimated third quarter GDP growth. But the Commerce Department also reported an unexpected decrease in durable goods orders and new home sales.

Relatively light trading activity also contributed to the lackluster performance, as some traders got a head start on the holidays.