The Indonesia stock market has moved lower in consecutive trading days, tumbling almost 120 points or 2 percent in that span. The Jakarta Composite Index now rests just beneath the 5,840-point plateau and it's expected to open under pressure again on Wednesday.

The global forecast for the Asian is slightly soft, with concerns over U.S. treasury yields tempered by support from crude oil. The European markets were mixed and the U.S. bourses were down and the Asian markets figure to follow the latter lead.

The JCI finished sharply lower on Tuesday following heavy losses from the financial shares and telecoms, while the resource stocks offered support.

For the day, the index plunged 109.04 points or 1.83 percent to finish at 5,838.12 after trading between 5,833.63 and 5,940.42.

Among the actives, XL Axiata plummeted 7.89 percent, while Bumi Resources surged 4.96 percent, Bank Mandiri plunged 4.86 percent, SLJ Global soared 4.38 percent, Bank Danamon Indonesia tumbled 3.75 percent, Bukit Darmo Property spiked 2.67 percent, Vale Indonesia advanced 2.64 percent, Bank Pan Indonesia retreated 2.23 percent, Bank MNC Internasional skidded 1.96 percent, Voksel Electric skidded 1.59 percent, Jasa Marga dropped 1.20 percent and Tiga Pilar Sejahtera Food was unchanged.

The lead from Wall Street is negative as stocks moved lower on Tuesday, as profit taking erased gains from previous sessions.

The Dow slumped 193.00 points or 0.78 percent to 24,706.41, the NASDAQ fell 59.69 points or 0.81 percent to 7,351.63 and the S&P 500 slid 18.68 points or 0.68 percent to 2,711.45.

The weakness came when traders reacted to a jump in U.S. treasury yields, with the yield on the benchmark ten-year note surging up to its highest levels since 2011.

In economic news, the Commerce Department said retail sales increased in line with estimates in April. Also, the National Association of Home Builders noted an unexpected improvement in homebuilder confidence in May.

Crude oil futures rose Tuesday, even as U.S. stocks and other commodities melted down. Oil has surged to four-year highs amid speculation that OPEC will continue to cut production. West Texas Intermediate oil for June ended up 35 cents or 0.5 percent to finish at $71.31/bbl.

by P2PNews Staff Writer

editorial@p2pnews.com

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