The Indonesia stock market has tracked higher in consecutive trading days, advancing almost 65 points or 1.2 percent along the way. The Jakarta Composite Index now rests just above the 5,795-point plateau although it may run out of steam on Wednesday.
The global forecast for the Asian markets is unclear, with concerns over the outlook for interest rates offset by support from crude oil prices. The European markets were slightly higher and the Asian bourses were mixed and little changed - and the Asian markets figure to follow the latter lead.
The JCI finished modestly higher on Tuesday following mixed performances from the financial shares and the resource stocks.
For the day, the index climbed 35.72 points or 0.62 percent to finish at the daily high of 5,796.79 after moving as low as 5,756.24. There were 191 decliners and 184 gainers, with 124 stocks finishing unchanged.
Among the actives, Voksel Electric plummeted 6.82 percent, while Lotte Chemical skidded 1.41 percent, Jasa Marga jumped 2.11 percent, XL Axiata dropped 1.71 percent, Bank Pan Indonesia retreated 2.04 percent, Bank Danamon Indonesia collected 0.36 percent, Bank Central Asia jumped 1.28 percent, Bank Mandiri spiked 2.42 percent, Bank Rakyat Indonesia advanced 1.68 percent, Indosat declined 1.08 percent, Bumi Resources climbed 1.01 percent, Vale Indonesia slid 1.45 percent and Aneka Tambang, Bank Negara Indonesia, Bank MNC Internasional and Bukit Darmo Property were unchanged.
The lead from Wall Street offers little guidance as stocks fluctuated on Tuesday, bouncing back and forth across the unchanged line before closing mixed for the second straight day.
The Dow shed 56.21 points or 0.21 percent to finish at 26,430.57, while the NASDAQ added 2.07 points or 0.03 percent to 7,738.02 and the S&P fell 4.09 points or 0.14 percent to 2,880.34.
The choppy trading on Wall Street came as traders kept an eye on treasuries amid renewed concerns about the outlook for interest rates. With the bond markets re-opening after Monday's Columbus Day holiday, treasury yields turned lower after an initial move higher.
Traders shrugged off news that the International Monetary Fund lowered its forecast for U.S. and Chinese economic growth, citing the "negative effect of recent tariff actions."
Crude oil prices moved up on Tuesday amid reports of falling crude exports from Iran ahead of the U.S. sanctions against the country. Crude oil futures for November delivery ended up $0.67 or 0.9 percent at $74.96 a barrel.
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