The Indonesia stock market on Friday ended the two-day winning streak in which it had jumped more than 90 points or 1.5 percent. The Jakarta Composite Index now rests just above the 6,580-point plateau although it's expected to rebound again on Monday.
The global forecast for the Asian is firm as they get to react to better than expected employment data from the United States and the corresponding bump in crude oil prices. The European and U.S. markets were up on Friday and the Asian markets are tipped to open in similar fashion.
The JCI finished barely lower on Friday as the financial shares and resource stocks ended mostly in the red.
For the day, the index dipped 4.65 points or 0.07 percent to finish at 6,581.79 after trading between 6,550.12 and 6,608.42.
Among the actives, Bank Danamon Indonesia retreated 1.53 percent, while Bank CIMB Niaga shed 0.47 percent, Bank Negara Indonesia gave away 0.71 percent, Bank Central Asia collected 1.02 percent, Bank Mandiri skidded 1.05 percent, Bank Rakyat Indonesia eased 0.24 percent, Indosat tanked 2.44 percent, Indocement fell 0.39 percent, Indofood Suskes slid 0.40 percent, Astra International tumbled 0.84 percent, Astra Agro Lestari lost 0.68 percent, Aneka Tambang sank 0.84 percent, Vale Indonesia improved 0.42 percent, Timah dropped 0.95 percent, Bumi Resources plummeted 4.05 percent, Energi Mega Persada declined 0.82 percent and United Tractors, Semen Indonesia and Jasa Marga were unchanged.
The lead from Wall Street is firm as the major averages opened sharply higher on Friday, faded somewhat as the day progressed but still ended solidly in the green at fresh record closing highs.
The Dow jumped 203.72 points or 0.56 percent to finish at 36,327.95, while the NASDAQ added 31.28 points or 0.20 percent to close at 15,971.59 and the S&P 500 rose 17.47 points or 0.37 percent to end at 4,697.53. For the week, the NASDAQ spiked 3.1 percent, the S&P jumped 2 percent and the Dow gained 1.4 percent.
The continued strength on Wall Street came after the Labor Department reported that U.S. employment increased by more than expected in October.
The Labor Department described the job growth as widespread, with notable job gains in leisure and hospitality, professional and business services, manufacturing, and transportation and warehousing.
Signals from the Federal Reserve suggesting it is not in a hurry to raise interests also continued to generate buying interest even as the central bank begins scaling back its asset purchases.
Crude oil prices showed a strong move to the upside Friday as traders continued to digest news that OPEC and its allies decided to stick with a plan to raise oil output modestly and gradually. West Texas Intermediate Crude for December delivery jumped $2.46 or 3.1 percent to $81.27 a barrel.
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