The Indonesia stock market on Monday ended the five-day winning streak in which it had collected more than 250 points or 4.2 percent. The Jakarta Composite Index now rests just above the 5,900-point plateau and it's expected to open under pressure again on Tuesday.
The global forecast for the Asian markets is mixed to lower amid a sharp drop in crude oil prices. The European and U.S. markets were mostly down and the Asian markets figure to open in similar fashion.
The JCI finished modestly lower on Monday following mixed performances from the financial shares and the resource stocks.
For the day, the index shed 38.92 points or 0.65 percent to finish at 5,905.16 after trading between 5,847.34 and 5,956.80. There were 235 decliners and 137 gainers, with 126 stocks finishing unchanged.
Among the actives, XL Axiata plunged 3.94 percent, while Lotte Chemical spiked 2.13 percent, Jasa Marga jumped 1.26 percent, Bank Pan Indonesia skidded 1.19 percent, SLJ Global dropped 0.93 percent, Bank Danamon Indonesia collected 0.76 percent, Voksel Electric added 0.61 percent, Bank Central Asia gained 0.43 percent, Bank Mandiri shed 0.76 percent, Bank Negara Indonesia climbed 1.38 percent, Aneka Tambang retreated 1.10 percent, Indosat slid 1.08 percent, Vale Indonesia dipped 0.44 percent and Bumi Resources, Bank Rakyat Indonesia, Bukit Darmo Property, Bank MNC Internasional and Tiga Pilar Sejahtera Food were unchanged.
The lead from Wall Street offers little clarity as stocks were lackluster on Monday, bouncing back and forth across the unchanged line before ending mixed.
The Dow rose 44.95 points or 0.18 percent to 25,064.36, while the NASDAQ dipped 20.26 points or 0.26 percent to 7,805.72 and the S&P 500 fell 2.88 points or 0.10 percent to 2,798.43.
Traders were reluctant to make big moves ahead of key quarterly results this week, including Goldman Sachs (GS), Johnson & Johnson (JNJ), Morgan Stanley (MS), American Express (AXP), IBM Corp. (IBM), Microsoft (MSFT), and General Electric (GE).
In economic news, the Commerce Department said retail sales in the U.S. increased in line with estimates in June, as did business inventories in May. Also, the Federal Reserve Bank of New York said manufacturing activity continued to grow at a brisk pace in July, although slower than the previous month.
Many of the major sectors showed only modest moves on the day, although considerable weakness was visible among energy stocks - which came amid a sharp drop in the price of crude oil as August delivery plunged $2.95 to $68.06 a barrel.
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