Profit Taking Expected For Indonesia Stock Market

(RTTNews) - The Indonesia stock market has finished higher in two straight sessions, collecting almost 160 points or 3.5 percent along the way. The Jakarta Composite Index now rests just above the 4,620-point plateau although it's likely to run out of steam on Monday.

The global forecast for the Asian markets is broadly negative thanks to ever-increasing coronavirus concerns and an expected tumble in crude oil prices. The European and U.S. markets were down on Friday and the Asian markets figure to follow suit.

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

For the day, the index spiked 91.74 points or 2.02 percent to finish at the daily high of 4,623.43 after moving as low as 4,531.81.

Among the actives, Bank Danamon Indonesia collected 1.00 percent, while Bank Mandiri spiked 5.79 percent, Bank Central Asia climbed 1.57 percent, Bank Negara Indonesia accelerated 4.16 percent, Indosat skyrocketed 12.10 percent, Indocement added 0.85 percent, Semen Indonesia gathered 2.67 percent, Indofood Suskes tumbled 2.94 percent, Astra International shed 0.76 percent, Astra Agro Lestari surged 4.23 percent, Aneka Tambang advanced 2.65 percent, Vale Indonesia soared 4.98 percent, Timah rose 1.82 percent and Bumi Resources and Perusahaan Gas were unchanged.
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