Indonesia Stock Market Tipped To Open In The Green

The Indonesia stock market bounced higher again on Friday, one day after ending the three-day winning streak in which it had advanced more than 70 points or 1 percent. The Jakarta Composite Index now sits just beneath the 7,240-point plateau and it may add to its winnings on Monday.

The global forecast for the Asian markets is upbeat following strong U.S. employment data, even though it dims the possibility of an interest rate hike next month. The European markets were mixed and flat and the U.S. bourses were up and the Asian markets figure to follow the latter lead.

The JCI finished modestly higher on Friday as gains from the financial shares were offset by weakness from the resource stocks.

For the day, the index added 37.09 points or 0.52 percent to finish at the daily high of 7,238.79 after moving as low as 7,180.36.

Among the actives, Bank Mandiri jumped 1.91 percent, while Bank Danamon Indonesia strengthened 1.44 percent, Bank Negara Indonesia collected 0.87 percent, Bank Rakyat Indonesia climbed 1.74 percent, Indosat Ooredoo Hutchison added 0.52 percent, Indofood Suskes improved 0.79 percent, United Tractors rose 0.22 percent, Astra International rallied 3.90 percent, Energi Mega Persada tumbled 1.94 percent, Aneka Tambang shed 0.65 percent, Vale Indonesia skidded 1.02 percent, Timah tanked 2.59 percent, Bumi Resources plummeted 3.37 percent and Bank Central Asia, Bank CIMB Niaga, Astra Agro Lestari, Indocement and Semen Indonesia were unchanged.

The lead from Wall Street is strong as the major averages opened mixed on Friday but consistently trended upward and finished well into the green, with the Dow and the S&P 500 reaching new record closing highs.

The Dow climbed 134.62 points or 0.35 percent to finish at 38,654.42, while the NASDAQ surged 267.35 points or 1.74 percent to end at 15,628.95 and the S&P 500 jumped 52.42 points or 1.07 percent to close at 4,958.61. For the week, the NASDAQ shot up 1.1 percent, while the Dow and the S&P 500 both jumped 1.4…