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Indonesia Bourse May Reverse Friday's Losses

Indonesia Bourse May Reverse Friday's Losses Shutterstock photo (RTTNews...

Indonesia Bourse May Reverse Friday's Losses

Shutterstock photo

( - The Indonesia stock market on Friday halted the three-day winning streak in which it had gathered more than 200 points or 3.2 percent. The Jakarta Composite Index now rests just beneath the 5,970-point plateau although it's poised for a mild recovery on Monday.

The global forecast for the Asian markets is upbeat, thanks to a bump in crude oil prices. The European and U.S. markets were firm and the Asian bourses figure to follow suit.

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

For the day, the index shed 14.23 points or 0.24 percent to finish at 5,968.75 after trading between 5,949.61 and 5,993.60. T here were 203 decliners and 157 gainers, with 126 stocks finishing unchanged.

Among the actives, Voksel Electric plunged 5.08 percent, while Lotte Chemical skidded 2.07 percent, Bank Pan Indonesia jumped 1.92 percent, XL Axiata retreated 1.34 percent, Jasa Marga eased 0.22 percent, Bank Danamon Indonesia fell 0.36 percent, Bank Central Asia spiked 2.03 percent, Bank Mandiri dropped 1.09 percent, Bank Negara Indonesia declined 1.66 percent, Indosat slid 0.31 percent, Bumi Resources tumbled 1.80 percent, Vale Indonesia plummeted 2.99 percent and Bank Rakyat Indonesia, Bukit Darmo Property, Bank MNC Internasional and SLJ Global were unchanged.

The lead from Wall Street is positive as stocks moved higher on Friday, reversing the weakness in the previous session. The major averages all ended firmly in positive territory.

The Dow rose 133.37 points or 0.52 percent to 25,790.35, the NASDAQ advanced 67.52 points or 0.86 percent to 7,945.98 and the S &P 500 climbed 17.71 points or 0.62 percent to 2,874.69. For the week, the NASDAQ jumped 1.7 percent, the S&P 500 climbed 0.9 percent and the Dow rose 0.5 percent.

The gains on Wall Street followed remarks by FOMC Chair Jerome Powell at the Kansas City Fed's economic policy symposium in Jackson Hole, Wyoming. Powell reiterated the Fed's stance that further gradual increases in interest rates will likely be appropriate if the strong growth in income and jobs continues.

In economic news, the Commerce Department noted a bigger than expected drop in durable goods orders in July.

Crude oil prices moved higher on Friday, lifted by a drop in U.S. oil rig count. Crude oil futures for October delivery ended up $0.89 or 1.3 percent at $68.72 a barrel. Oil futures gained 5.4 percent in the week.

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This article appears in: World Markets , US Markets , StocksSource: Google News Indonesia | Netizen 24 Indonesia

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