The Indonesia stock market has finished higher in three straight sessions, advancing more than 80 points or 1.3 percent along the way. The Jakarta Composite Index remains just above the 6,050-point plateau and it gets another green light again on Tuesday.
The global forecast for the Asian markets suggests mild upside, with upbeat economic data tempered by a decline in crude oil prices. The European and U.S. markets ended higher and the Asian markets figure to open in similar fashion.
The JCI finished barely higher on Monday following mixed performances from the financial shares and the resource stocks.
For the day, the index was up 1.55 points or 0.03 percent to finish at 6,053.28 after trading between 6,053.17 and 6,098.78. There were 199 decliners and 134 gainers, with 120 stocks finishing unchanged.
Among the actives, Bumi Resources climbed 1.47 percent, while Vale Indonesia plummeted 2.36 percent, Bank Mandiri jumped 1.37 percent, Jasa Marga tumbled 2.27 percent, Lotte Chemical skidded 1.49 percent, Voksel Electric shed 0.69 percent, XL Axiata lost 0.62 percent, Ban Pan Indonesia fell 0.40 percent and Indofood, Bank Danamon, Bank MNC Internasional and Tiga Pilar Sejahtera Food all were unchanged.
The lead from Wall Street is firm as stocks saw modest strength on Monday, although buying interest was subdued, limiting the upside.
The Dow climbed 72.09 points or 0.31 percent to 23,430.33, while the NASDAQ edged up 7.92 points or 0.12 percent to 6,790.71 and the S&P gained 3.29 points or 0.13 percent to 2,582.14.
M&A news may have generated some positive sentiment, with chipmaker Marvell Technology (MRVL) reaching an agreement to acquire Cavium (CAVM) for about $6 billion.
In economic news, the Conference Board noted a bigger than expected jump by its index of leading U.S. economic indicators in October.
Crude oil prices fell Monday as a stronger dollar hurt most commodities. Oil has come under pressure of late due to speculation that global supplies will continue to outpace demand.
January WTI oil settled at $56.42/bbl, down 29 cents or 0.5 percent. December WTI oil slipped 46 cents or 0.8 percent to $56.09/bbl on the final day of the December contract.
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