Indonesia Bourse Has Firm Lead For Monday's Trade

(RTTNews) - The Indonesia stock market on Friday ended the two-day winning streak in which it had perked almost 15 points or 0.2 percent. The Jakarta Composite Index now sits just beneath the 6,815-point plateau although it's likely to bounce higher again on Monday.

The global forecast for the Asian markets is positive, supported by oil and technology stocks. The European and U.S. markets were up and the Asian bourses figure to follow that lead.

The JCI finished modestly lower on Friday following mixed performances from the financial shares and resource stocks.

For the day, the index slumped 43.78 points or 0.64 percent to finish at 6,813.64.

Among the actives, Bank Danamon Indonesia collected 0.35 percent, while Bank CIMB Niaga dropped 0.81 percent, Bank Negara Indonesia weakened 1,41 percent, Bank Central Asia surrendered 1.74 percent, Bank Mandiri declined 1.71 percent, Bank Rakyat Indonesia shed 0.42 percent, Indosat Ooredoo Hutchison jumped 1.85 percent, Indocement spiked 2.70 percent, Semen Indonesia added 0.35 percent, Indofood Suskes gained 0.40 percent, United Tractors slumped 0.71 percent, Astra International retreated 1.63 percent, Energi Mega Persada rallied 1.60 percent, Astra Agro Lestari fell 0.30 percent, Aneka Tambang sank 0.75 percent, Timah improved 0.42 percent, Bumi Resources stumbled 1.48 percent and Vale Indonesia was unchanged.

The lead from Wall Street is solid as the major averages opened higher on Friday and accelerated as the day progressed, ending near session highs.

The Dow surged 387.37 points or 1.17 percent to finish at 33,390.97, while the NASDAQ rallied 226.01 points or 1.97 percent to end at 11,689.01 and the S&P 500 jumped 64.29 points or 1.61 percent to close at 4,045.64. For the week, the NASDAQ spiked 2.6 percent, the S&P gained 1.9 percent and the Dow climbed 1.8 percent.

The rally on Wall Street came as traders continued to pick up stocks at reduced levels following recent weakness. A pullback by treasury yields also generated some buying interest, with the yield on the benchmark 10-year note giving ground after jumping to a three-month closing high above 4.0 percent.

Traders also reacted positively to a report from the Institute for Supply Management showing a very slight slowdown in the pace of growth in U.S. service sector activity in February.

Crude oil prices reversed an early sell-off after the United Arab Emirates denied a report that was thinking of leaving OPEC. West Texas Intermediate crude for April delivery surged $1.52 or 1.9 percent to $79.68 a barrel. For the week, crude oil spiked 4.4 percent.