(RTTNews) – The Indonesia stock market has finished higher in eight straight sessions, advancing more than 350 points or 5.8 percent in that span. The Jakarta Composite Index now rests just above the 6,230-point plateau although investors figure to cash in on Tuesday.
The global forecast for the major averages is soft on concerns over the outlook for interest rates and on the continuing conflict in the Middle East. The European markets were mixed and the U.S. bourses were down and the Asian markets figure to split the difference.
The JCI finished modestly higher on Monday following gains from the industrial, energy and resource companies.
For the day, the index advanced 56.24 points or 0.91 percent to finish at 6,231.78 after trading between 6,191.04 and 6,249.90.
The lead from Wall Street is soft as the major averages opened higher on Monday but gradually sank into the red as the day progressed, ending at session lows.
The Dow tumbled 307.16 points or 0.59 percent to finish at 51,839.26, while the NASDAQ dipped 12.17 points or 0.05 percent to close at 25,508.07 and the S&P 500 eased 14.41 points or 0.19 percent to end at 7,443.28.
The early strength on Wall Street came as traders looked up to pick up stocks at relatively reduced levels following the notable pullback seen over the two previous sessions.
Buying interest waned over the course of the session, however, as concerns the escalating conflict between the U.S. and Iran led to a surge by treasury yields and worries about the outlook for interest rates.
In U.S. economic news, the Conference Board released a report showing a modest decline by its reading on leading U.S. economic indicators in June.
Crude oil prices edged higher on Monday as the U.S. and Iran continue to attack each other even as both sides appear ready to renew diplomatic efforts to halt the conflict. West Texas Intermediate crude for August delivery was up $0.39 or 0.47 percent at $82.88 per barrel.
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