Higher Open Called For Indonesia Stock Market
(RTTNews) - The Indonesia stock market has moved higher in two straight sessions, advancing more than 130 points or 2 percent along the way. The Jakarta Composite Index now rests just above the 6,525-point plateau and it may see additional support again on Monday.
The global forecast for the Asian markets is positive on an improved outlook for interest rates. The European and U.S. markets were up and the Asian bourses are expected to follow that lead.
The JCI finished modestly higher on Friday as gains from the finance, retail and energy sectors were capped by weakness from the transportation and industrial companies.
For the day, the index gained 24.10 points or 0.37 percent to finish at 6,525.69 after trading between 6,507.43 and 6,551.96.
The lead from Wall Street is firm as the major averages opened higher on Friday and remained solidly in the green throughout the trading day, slightly off session highs.
The Dow rallied 517.80 points or 0.98 percent to finish at 53,277.01, while the NASDAQ climbed 113.29 points or 0.43 percent to end at 26,180.46 and the S&P 500 rose 33.21 points or 0.43 percent to close at 7,674.37.
For the week, the NASDAQ plunged 2.1 percent, the S&P 500 tumbled 1.4 percent and the Dow slumped 0.9 percent.
The strength on Wall Street reflected bargain hunting after the major averages moved sharply lower on Thursday amid an extended surge in crude oil prices and a rebound in bond yields.
Crude oil prices edged higher on Friday as the Strait of Hormuz remains closed, heightening supply concerns. West Texas Intermediate crude for October delivery was up $0.44 or 0.51 percent at $87.27 per barrel.
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Japanese Market Sharply Lower
Indonesia Stock Market Tipped To Open In The Red
No Help Yet For Hong Kong Stock Market
