Indonesia Stock Market May Add To Its Winnings On Monday

(RTTNews) - The Indonesia stock market on Friday ended the two-day losing streak in which it had slumped almost 55 points or 0.8 percent along the way. The Jakarta Composite Index now rests just beneath the 7,200-point plateau and it's expected to open in the green again on Monday.

The global forecast is positive, supported by increasing oil prices. The European and U.S. markets were up on Friday and the Asian markets are expected to open in similar fashion on Monday.

The JCI finished modestly higher on Friday following gains from the financials, profit taking among the telecoms and mixed performances from the cement and resource sectors.

For the day, the index added 54.65 points or 0.77 percent to finish at 7,195.56 after trading between 7,154.45 and 7,215.69.

Among the actives, Bank CIMB Niaga rallied 1.44 percent, while Bank Mandiri strengthened 1.63 percent, Bank Danamon Indonesia collected 0.79 percent, Bank Negara Indonesia accelerated 2.54 percent, Bank Rakyat Indonesia soared 3.53 percent, Bank Maybank Indonesia advanced 0.93 percent, Indosat Ooredoo Hutchison tanked 2.40 percent, Indocement jumped 1.82 percent, Semen Indonesia fell 0.28 percent, Indofood Sukses Makmur tumbled 1.97 percent, United Tractors climbed 1.22 percent, Astra International added 0.41 percent, Energi Mega Persada improved 0.77 percent, Astra Agro Lestari rose 0.40 percent, Aneka Tambang plunged 2.68 percent, Jasa Marga gained 0.44 percent, Vale Indonesia lost 0.54 percent, Timah plummeted 6.95 percent and Bumi Resources and Bank Central Asia were unchanged.

The lead from Wall Street is upbeat as the major averages opened higher on Friday and mostly stayed that way, ending in the green.

The Dow surged 426.16 points or 0.97 percent to finish at a record 44,296.51, while the NASDAQ added 31.23 points or 0.16 percent to close at 19.003.65 and the S&P 500 gained 20.63 points or 0.35 percent to end at 5,969.34.

For the week, the Dow surged 2.0 percent, while the NASDAQ and the S&P 500 both shot up by 1.7 percent.

The advance by the markets came despite a pullback by shares of Nvidia (NVDA), as the AI darling tumbled by 3.2 percent despite having reporting better than expected third quarter earnings and revenues.

In U.S. economic news, revised data released by the University of Michigan showed consumer sentiment in the U.S. improved less than expected in November - although the index is still at its highest level since April.

Oil prices climbed higher on Friday amid rising concerns about Russia/Ukraine conflict. West Texas Intermediate Crude oil futures for January closed up $1.14 or 1.6 percent at $71.24 a barrel. WTI crude futures gained 6.5 percent in the week.