Authorization

Indonesia Stock Market Draws Firm Lead For Monday

(RTTNews) - The Indonesia stock market has climbed higher in four straight sessions, advancing almost 115 points or 1.8 percent along the way. The Jakarta Composite Index now rests just beneath the 6,450-point plateau and it's tipped to open in the green again on Monday.

The global forecast for the Asian markets is positive on global trade optimism and a surge in crude oil prices. The European and U.S. markets were firmly higher on Friday and the Asian bourses are expected to open in similar fashion.

The JCI finished modestly higher on Friday following gains from the resource, cement and financial stocks.

For the day, the index added 24.38 points or 0.38 percent to finish at 6,448.16 after trading between 6,409.10 and 6,452.56.

Among the actives, Bumi Resources surged 6.10 percent, while Aneka Tambang advanced 0.59 percent, Vale Indonesia accelerated 1.65 percent, Indocement jumped 1.62 percent, Semen Indonesia spiked 2.21 percent, United Tractors added 0.28 percent, Holcim Indonesia rose 0.27 percent, Unilever Indonesia was up 0.10 percent, Bank Danamon Indonesia skidded 1.18 percent, Bank Central Asia perked 1.78 percent, Bank Negara Indonesia gathered 1.62 percent, Bank Rakyat Indonesia collected 0.26 percent, Indosat soared 3.92 percent and Indofood Suskes and Bank Mandiri were unchanged.

The lead from Wall Street is upbeat as stocks moved sharply higher Friday, extending recent gains as the major averages hit their best closing levels in more than a month.

The Dow jumped 336.25 points or 1.38 percent to 24,706.35, while the NASDAQ rose 72.76 points or 1.03 percent to 7,157.23 and the S&P added 34.75 points or 1.32 percent to 2,670.71. For the week, the Dow spiked 3 percent, the NASDAQ rose 2.7 percent and the S&P gained 2.9 percent.

The rally on Wall Street rode continued optimism about trade talks between the U.S. and China as reports suggested China may go on a six-year buying spree to ramp up imports from the U.S.

In economic news, the University of Michigan noted a substantial drop in U.S. consumer sentiment in January. Also, the Federal Reserve said industrial production increased more than expected in December, as jumps in manufacturing and mining offset a pullback in utilities output.

Crude oil prices surged on Friday, driven by an OPEC report that showed the biggest monthly drop in crude production in nearly two years in December. Crude oil futures for February ended up $1.73 or 3.3 percent at $53.80 a barrel.
See also:
Leave a comment
News
  • Latest
  • Read
  • Commented
Calendar Content
«    Июль 2020    »
ПнВтСрЧтПтСбВс
 12345
6789101112
13141516171819
20212223242526
2728293031