Win Streak May Continue For Indonesia Stock Market

(RTTNews) - The Indonesia stock market has moved higher in five straight sessions, gathering almost 210 points or 3.1 percent along the way. The Jakarta Composite Index now rests just above the 7,015-point plateau and it's looking at another green light for Monday's trade.

The global forecast for the Asian markets is upbeat on falling treasury yields and optimism over the outlook for interest rates. The European markets were mixed and the U.S. bourses were sharply higher and the Asian markets are tipped to follow the latter lead.

The JCI finished modestly higher on Friday following gains from the financials and mixed performances from the cement and resource stocks.

For the day, the index added 37.12 points or 0.53 percent to finish at 7,017.77.

Among the actives, Bank Danamon Indonesia skyrocketed 10.97 percent, while Bank CIMB Niaga spiked 3.29 percent, Bank Central Asia jumped 1.76 percent, Bank Mandiri soared 4.55 percent, Bank Rakyat Indonesia advanced 0.91 percent, Indosat Ooredoo Hutchison climbed1.18 percent, Indocement added 0.54 percent, Semen Indonesia tumbled 2.56 percent, Indofood Suskes declined 1.18 percent, United Tractors gained 0.55 percent, Astra International rallied 2.33 percent, Astra Agro Lestari tanked 2.86 percent, Aneka Tambang skidded 1.10 percent, Vale Indonesia plunged 4.36 percent, Timah slumped 2.51 percent, Bumi Resources accelerated 2.25 percent and Energi Mega Persada and Bank Negara Indonesia were unchanged.

The lead from Wall Street is broadly positive as the major averages opened barely in the red on Friday but quickly moved higher and accelerated as the day progressed.

The Dow surged 748.96 points or 2.47 percent to finish at 31,082.56, while the NASDAQ soared 244.92 points or 2.31 percent to end at 10,859.72 and the S&P 500 jumped 86.97 points or 2.37 percent to close at 3,752.75.

For the week, the NASDAQ surged 5.2 percent, the Dow spiked 4.9 percent and the S&P accelerated 4.7 percent.

The rally on Wall Street came as treasury yields showed a notable downturn after extending a recent surge in early trading. The yield on the benchmark ten-year note finished the day modestly lower after spiking to a fifteen-year intraday high earlier in the session.

The pullback by yields came after a report from the Wall Street Journal suggested Fed officials are likely to debate whether and how to signal plans for a smaller rate hike in December following a widely expected 75 basis point increase in early November.

Crude oil prices climbed higher on Friday amid hopes demand for oil in China will see an increase soon. A likely ban on Russian oil by the European Union and a weak dollar also fueled oil's uptick. West Texas Intermediate Crude oil futures for December ended higher by $0.54 or 0.6 percent at $85.05 a barrel.