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Indonesia Stock Market May Take Further Damage

(RTTNews) - The Indonesia stock market has moved lower in two straight sessions, sinking more than 60 points or 0.9 percent along the way. The Jakarta Composite Index now rests just beneath the 6,375-point plateau and the losses may accelerate on Monday.

The global forecast for the Asian markets is negative on disappointing earnings news and ongoing concerns over the spread of the coronavirus. The European and U.S. markets were down and the Asia bourses figure to follow suit.

The JCI finished modestly lower on Friday following losses from the financial shares and a mixed picture from the resource stocks.

For the day, the index dropped 54.90 points or 0.85 percent to finish at 6,373.41 after trading between 6,341.25 and 6,472.31.

Among the actives, Bank Danamon Indonesia tanked 2.33 percent, while Bank Mandiri tumbled 1.82 percent, Bank Negara Indonesia declined 1.94 percent, Bank Rakyat Indonesia stumbled 3.98 percent, Indosat dropped 0.81 percent, Telkom Indonesia slid 0.57 percent, Indocement advanced 0.85 percent, Semen Indonesia rose 0.21 percent, Indofood Suskes shed 0.74 percent, United Tractors fell 0.38 percent, Astra Agro Lestari surrendered 2.42 percent, Aneka Tambang retreated 1.89 percent, Vale Indonesia gained 0.38 percent, Timah surged 3.54 percent, Bumi Resources skyrocketed 14.29 percent and Bank CIMB Niaga was unchanged.
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