(RTTNews) – The Indonesia stock market has finished higher in three straight sessions, advancing almost 90 points or 1.4 percent along the way. The Jakarta Composite Index now sits just beneath the 5,850-point plateau and it’s expected to open higher again on Monday.
The global forecast for the Asian markets is positive on easing inflation concerns. The European and U.S. markets were up and the Asian markets are tipped to open in similar fashion.
The JCI finished slightly higher on Friday following gains from the financial shares, resource stocks and cement companies.
For the day, the index rose 6.79 points or 0.12 percent to finish at 5,848.62 after trading between 5,833.34 and 5,891.47.
Among the actives, Bank Danamon Indonesia dropped 0.85 percent, while Bank CIMB Niaga collected 0.52 percent, Bank Negara Indonesia improved 0.97 percent, Bank Central Asia perked 1.12 percent, Bank Mandiri gained 0.87 percent, Bank Rakyat Indonesia rallied 3.04 percent, Indosat advanced 0.81 percent, Indocement soared 4.15 percent, Semen Indonesia climbed 1.58 percent, Indofood Suskes lost 0.40 percent, United Tractors added 0.81 percent, Energi Mega Persada dropped 0.95 percent, Astra Agro Lestari shed 0.57 percent, Aneka Tambang soared 2.93 percent, Vale Indonesia spiked 1.96 percent, Timah surged 2.94 percent and Bumi Resources and Astra International were unchanged.
The lead from Wall Street is cautiously optimistic as the major averages opened higher on Friday, faded as the day progressed but still finished slightly in the green.
The Dow added 64.81 points or 0.19 percent to finish at 34,529.45, while the NASDAQ gained 12.46 points or 0.09 percent to end at 13,748.74 and the S&P 500 rose 3.23 points or 0.08 percent to close at 4,204.11.
The strength on Wall Street came as the inflation reading preferred by the Federal Reserve showed an acceleration in the pace of price growth but not as much as traders had feared.
While the increase in prices exceeded estimates, the jump was not so severe as to raised concerns about the Federal Reserve tightening monetary policy.
Crude oil futures settled lower Friday, snapping a five-day winning streak as traders took profits ahead to the upcoming OPEC meeting. West Texas Intermediate Crude oil futures for July fell $0.53 or 0.8 percent at $66.32 a barrel.