Indonesia Bourse Tipped To Open In The Green

(RTTNews) - The Indonesia stock market rebounded again on Friday, one day after halting the four-day winning streak in which it had climbed almost 240 points or 3.7 percent. The Jakarta Composite Index now rests just beneath the 6,680-point plateau and it's expected to open higher again on Monday.

The global forecast for the Asian markets is positive on easing tariff tensions between the United States and China. 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 following gains from the food, financial and cement companies, while the resource stocks were mixed.

For the day, the index gained 65.44 points or 0.99 percent to finish at 6,678.92 after trading between 6,640.78 and 6,683.36.

Among the actives, Bank CIMB Niaga rose 0.29 percent, while Bank Mandiri perked 0.20 percent, Bank Danamon Indonesia strengthened 1.69 percent, Bank Negara Indonesia collected 0.72 percent, Bank Central Asia rallied 1.47 percent, Bank Rakyat Indonesia added 0.27 percent, Indosat Ooredoo Hutchison shed 0.54 percent, Indocement spiked 2.86 percent, Semen Indonesia accelerated 2.77 percent, Indofood Sukses Makmur soared 3.10 percent, United Tractors was up 0.22 percent, Astra International jumped 1.89 percent, Energi Mega Persada surged 3.85 percent, Astra Agro Lestari advanced 0.86 percent, Aneka Tambang lost 0.47 percent, Vale Indonesia improved 2.87 percent, Timah skyrocketed 6.57 percent and Bumi Resources increased 1.90 percent.

The lead from Wall Street is upbeat as the major averages opened mixed on Friday but a late rally pushed them all into the green by the close.

The Dow rose 20.10 points or 0.05 percent to finish at 40,113.50, while the NASDAQ rallied 216.94 points or 1.26 percent to close at 17,382.94 and the S&P 500 climbed 40.44 points or 0.74 percent to end at 5,525.21. For the week, the NASDAQ spiked 6.7 percent, the S&P 500 surged 4.6 percent and the Dow shot up by 2.5 percent.

The volatility on the day came as traders kept a close eye on the developments on the trade front, with President Donald Trump refuting China's claims that the two countries have not held any trade negotiations.

Several reports citing U.S. businesses also said China has exempted some U.S. imports from its 125 percent tariffs.

In U.S. economic news, the University of Michigan said consumer sentiment in the U.S. deteriorated less than previously estimated in the month of April.

Crude oil futures moved modestly higher on Friday amid signs of easing trade tensions between the U.S. and China. West Texas Intermediate crude for June delivery rose $0.23 or 0.4 percent to $63.02 a barrel. For the week, crude for June delivery tumbled $0.99 a barrel or 1.6 percent.