Indonesia Bourse May Run Out Of Steam On Monday

(RTTNews) - The Indonesia stock market has finished higher in back-to-back trading days, skyrocketing more than 600 points or 13 percent along the way. The Jakarta Composite Index now rests just beneath the 4,550-point plateau although investors are expected to cash in on Monday.

The global forecast for the Asian markets is soft on coronavirus concerns, with profit taking expected following recent sessions of stimulus-generated buying. The European and U.S. markets were sharply lower and the Asian bourses are tipped to open in the red.

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

For the day, the index surged 206.67 points or 4.76 percent to finish at 4,545.57 after trading between 4,338.92 and 4,697.67.

Among the actives, Bank Danamon Indonesia jumped 5.64 percent, while Bank Mandiri spiked 10.51 percent, Bank Central Asia collected 4.36 percent, Bank Negara Indonesia accelerated 11.14 percent, Indosat climbed 4.48 percent, Indocement gathered 7.66 percent, Semen Indonesia skyrocketed 17.28 percent, Indofood Suskes gained 13.81 percent, Astra Agro Lestari was up 5.77 percent, Astra International surged 12.71 percent, Aneka Tambang soared 10.58 percent, Vale Indonesia advanced 5.82 percent, Timah rose 4.85 percent and Bumi Resources was unchanged.
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