Indonesia Stock Market May Extend Winning Streak

(RTTNews) - The Indonesia stock market has finished higher in two straight sessions, climbing most than 100 points or 1.4 percent in that span. The Jakarta Composite Index now sits just shy of the 7,010-point plateau and it may add to its winnings again on Monday.

The global forecast for the Asian markets is cautiously optimistic on positive momentum regarding the outlook for interest rates. The European markets were up and the U.S. bourses were mixed and little changed and the Asian markets figure to split the difference.

The JCI finished barely higher on Friday following mixed performances from the financial shares, resource stocks and cement companies.

For the day, the index rose 5.29 points or 0.08 percent to finish at 7,009.63.

Among the actives, Bank CIMB Niaga slid 0.29 percent, while Bank Mandiri shed 0.42 percent, Bank Danamon Indonesia rallied 2.18 percent, Bank Negara Indonesia advanced 0.97 percent, Bank Rakyat Indonesia improved 0.93 percent, Indosat Ooredoo Hutchison tumbled 1.89 percent, Indocement perked 0.27 percent, Semen Indonesia fell 0.39 percent, Indofood Suskes climbed 1.18 percent, United Tractors gained 0.44 percent, Astra International added 0.44 percent, Energi Mega Persada dropped 0.92 percent, Aneka Tambang rose 0.31 percent, Timah sank 0.79 percent, Bumi Resources stumbled 1.83 percent and Bank Central Asia, Astra Agro Lestari, Jasa Marga Persero and Vale Indonesia were unchanged.

The lead from Wall Street varies widely as the Dow opened higher on Friday and stayed that way, the NASDAQ opened lower and stayed that way and the S&P bounced back and forth across the line all day and finished barely higher.

The Dow gained 117.15 points or 0.33 percent to finish at 35,390.15, while the NASDAQ dipped 15.05 points or 0.11 percent to close at 14,250.85 and the S&P 500 perked 2.72 points or 0.06 percent to end at 4,559.34.

For the holiday-interrupted week, the Dow rose 1.3 percent, while the S&P 500 advanced 1.0 percent and the NASDAQ climbed 0.9 percent.

The choppy action on Wall Street came as many traders remained away from their desks following Thursday's holiday, with the markets closing three hours earlier than usual.

A lack of major U.S. economic data also kept some traders on the sidelines ahead of this week's reports on new home sales, consumer confidence, pending home sales and manufacturing activity.

Oil prices fell sharply Friday, with traders waiting on a crucial OPEC meeting this week as oil producers struggling to come to a consensus on production levels. West Texas Intermediate Crude oil futures for January ended lower by $1.56 or 2 percent at $75.54 a barrel.