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Lower Open Expected For Indonesia Stock Market

(RTTNews) - Ahead of the Labor Day holiday weekend, the Indonesia stock market had climbed higher in four straight sessions, collecting more than 220 points or 4.9 percent along the way. The Jakarta Composite Index now sits just above the 4,715-point plateau although it figures to open in the red on Monday.

The global forecast for the Asian markets is soft, with poor earnings news likely to provide an excuse for profit taking. The European and U.S. markets were down and the Asian bourses are expected to open in similar fashion.

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

For the day, the index soared 149.08 points or 3.26 percent to finish at 4,716.40 after trading between 4,567.40 and 4,726.77.

Among the actives, Bank Danamon Indonesia collected 0.40 percent, while Bank Mandiri skyrocketed 11.50 percent, Bank Central Asia spiked 6.60 percent, Bank Negara Indonesia surged 9.04 percent, Indosat plunged 4.44 percent, Indocement accelerated 5.43 percent, Semen Indonesia jumped 8.16 percent, Indofood Suskes tumbled 2.25 percent, Aneka Tambang climbed 2.41 percent, Vale Indonesia gained 7.98 percent, Timah rose 0.43 percent and Bumi Resources was unchanged.
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