Mild Rebound Anticipated For Indonesia Shares

(RTTNews) - The Indonesia stock market on Friday ended the two-day winning streak in which it had advanced almost 160 points or 2.8 percent. The Jakarta Composite Index now sits just beneath the 6,260-point plateau although it may bounce higher again on Monday.

The global forecast for the Asian markets is mixed and flat thanks to ongoing tariff concerns. The European markets were down and the U.S. bourses were barely higher, and the Asian markets figure to split the difference.

The JCI finished sharply lower on Friday with damage across the board, especially among the financial shares, resource stocks and cement companies.

For the day, the index tumbled 123.49 points or 1.94 percent to finish at 6,258.18 after trading between 6,218.60 and 6,426.17.

Among the actives, Bank CIMB Niaga advanced 0.92 percent, while Bank Mandiri cratered 4.55 percent, Bank Danamon Indonesia slumped 1.24 percent, Bank Negara Indonesia crashed 7.60 percent, Bank Central Asia tumbled 5.67 percent, Bank Rakyat Indonesia collected 1.09 percent, Bank Maybank Indonesia declined 1.55 percent, Indosat Ooredoo Hutchison skidded 5.32 percent, Indocement lost 3.53 percent, Semen Indonesia sank 5.78 percent, Indofood Sukses Makmur shed 0.71 percent, United Tractors climbed 1.10 percent, Astra International rallied 2.76 percent, Energi Mega Persada retreated 1.22 percent, Astra Agro Lestari dropped 0.89 percent, Aneka Tambang stumbled 3.65 percent, Jasa Marga plunged 6.17 percent, Vale Indonesia plummeted 6.96 percent, Timah surrendered 3.72 percent and Bumi Resources climbed 1.12 percent.

The lead from Wall Street ends up slightly positive as the major averages spent almost all of Friday in the red before peeking into the green just before the close.

The Dow added 32.05 points or 0.08 percent to finish at 41,985.35, while the NASDAQ gained 92.45 points or 0.52 percent to close at 17,784.05 and the S&P 500 perked 4.67 points or 0.08 percent to end at 5,667.56.

For the week, the Dow jumped 1.2 percent, while the S&P and the NASDAQ both ended four-week losing streaks, rising by 0.5 percent and 0.2 percent, respectively.

The early weakness on Wall Street came amid ongoing concerns about the economic outlook along with rising geopolitical tensions and uncertainty about the impact of President Donald Trump's tariffs.

Crude oil prices bounced higher on Friday on geopolitical tensions after new U.S. sanctions against a Chinese refinery that purchased Iranian oil. West Texas Intermediate crude for May delivery climbed $0.23 or 0.3 percent to $68.30 a barrel.