Indonesia Stock Market Has Positive Lead – Markets Insider

(RTTNews) – The Indonesia stock market has tracked higher in two straight sessions, collecting more than 25 points or 0.4 percent along the way. The Jakarta Composite Index now rests just above the 5,870-point plateau, and it’s looking at another green light on Monday.

The global forecast for the Asian markets is mildly optimistic following support from crude oil prices and mixed economic data. The European markets were down and the U.S. markets were up, and the Asian markets figure to follow the latter lead.

The JCI finished modestly lower on Friday as losses from the resource and food stocks were tempered by support from the financial sector.

For the day, the index gathered 20.39 points or 0.35 percent to finish at 5,872.39 after trading between 5,831.18 and 5,875.53. There were 167 decliners and 142 gainers, with 117 stocks finishing unchanged.

Among the actives, Tiga Pilar Sejahtera Food plummeted 8.00 percent, while Bumi Resources tumbled 2.91 percent, Vale Indonesia plunged 3.87 percent, Astra Agro Lestari retreated 3.23 percent, Lotte Chemical skidded 1.69 percent, Jasa Marga climbed 1.69 percent, XL Axiata shed 0.50 percent, Bank Danamon spiked 3.83 percent, Bank Mandiri jumped 1.15 percent, Bank Pan Indonesia collected 0.49 percent and Bank MNC Internasional was unchanged.

The lead from Wall Street is cautiously optimistic as stocks moved modestly higher on Friday, allowing the Dow and the S&P 500 to hit record closing highs.

The Dow rose 64.86 points or 0.3 percent to 22,268.34, while the NASDAQ climbed 19.38 points or 0.3 percent to 6,448.47 and the S&P gained 4.61 points or 0.2 percent to 2,500.23. For the week, the Dow surged 2.2 percent, while the S&P jumped 1.6 percent and the NASDAQ advanced 1.4 percent.

In economic news, the Commerce Department said retail sales missed forecasts in July, while the Federal Reserve saw a fall in industrial output in August. Also, the University of Michigan said consumer sentiment waned in September.

Crude oil futures were flat Friday, holding strong weekly gains. WTI light sweet crude oil, which briefly jumped above $50 a barrel, was steady at $49.89. Prices were up 5.1 percent for the week.

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