Indonesia Bourse Expected To Remain Rangebound

(RTTNews) - The Indonesia stock market has finished higher in two of three trading days since the end of the two-day slide in which it had stumbled almost 65 points or 1.2 percent. The Jakarta Composite Index now rests just beneath the 4,905-point plateau although it figures to turn lower again on Monday.

The global forecast for the Asian markets is soft on spiking Covid-19 cases and poor results from bank stress tests. The European markets were mixed and the U.S. bourses were sharply lower and the Asian markets figure to follow the latter lead.

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

For the day, the index rose 7.36 points or 0.15 percent to finish at 4,904.09 after trading between 4,882.14 and 4,941.14.

Among the actives, Bank Danamon Indonesia skidded 1.45 percent, while Bank Mandiri shed 0.50 percent, Bank Central Asia tumbled 1.40 percent, Bank Negara Indonesia collected 0.66 percent, Indosat surged 5.17 percent, Indocement dropped 0.83 percent, Semen Indonesia added 0.53 percent, Indofood Suskes soared 4.71 percent, Aneka Tambang advanced 0.83 percent, Vale Indonesia rose 0.36 percent and Timah, Bukit Asam, United Tractors and Bumi Resources were unchanged.
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