Indonesia Bourse Expected To Add To Thursday's Gains

(RTTNews) - The Indonesia stock market has alternated between positive and negative finishes through the last six trading days since the end of the two-day winning streak in which it had gathered more than 95 points or 1.3 percent. The Jakarta Composite Index now sits just above the 6,750-point plateau and it's predicted to move higher again on Friday.

The global forecast for the Asian markets is upbeat on rising optimism about the outlook for interest rates. The European and U.S. markets were sharply higher and the Asian bourses are tipped to open in similar fashion.

The JC finished sharply higher on Thursday following gains from the financial shares, cement companies and resource stocks.

For the day, the index spiked 108.97 points or 1.64 percent to finish at 6,751.39 after trading between 6,695.89 and 6,785.00.

Among the actives, Bank Mandiri soared 4.42 percent, while Bank Danamon Indonesia collected 0.37 percent, Bank Negara Indonesia climbed 1.04 percent, Bank Central Asia rallied 2.91 percent, Bank Rakyat Indonesia spiked 3.52 percent, Indosat Ooredoo Hutchison tumbled 2.65 percent, Indocement accelerated 2.47 percent, Semen Indonesia jumped 3.31 percent, Indofood Suskes tanked 2.63 percent, United Tractors retreated 1.56 percent, Energi Mega Persada added 0.84 percent, Astra Agro Lestari improved 0.71 percent, Vale Indonesia rose 0.21 percent, Timah gained 0.77 percent, Bumi Resources advanced 0.93 percent and Aneka Tambang, Bank CIMB Niaga and Astra International were unchanged.

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

The Dow surged 564.50 points or 1.70 percent to finish at 33,839.08, while the NASDAQ jumped 232.72 points or 1.78 percent to end at 13,294.19 and the S&P 500 rallied 79.92 points of 1.89 percent to close at 4,317.78.

The rally on Wall Street came on optimism about the outlook for interest rates following the Federal Reserve's monetary policy announcement on Wednesday. The Fed left rates unchanged for the third time in the past four meetings, suggesting the central bank is done raising interest rates.

Treasury yields moved notably lower Wednesday and showed another significant move to the downside today, adding to the buying interest.

Traders will look now to the Labor Department's closely watched employment report for the month of October, due out later today.

Crude oil futures climbed higher Thursday as the dollar weakened on bets the Federal Reserve is done with its rate hiking cycle. West Texas Intermediate Crude oil futures for December rallied $2.02 or 2.5 percent at $82.46 a barrel.