Lower Open Anticipated For Indonesia Stock Market

(RTTNews) - The Indonesia stock market has moved lower in two of three trading days since the end of the two-day winning streak in which it had jumped almost 130 points or 1.9 percent. The Jakarta Composite Index now sits just beneath the 6,900-point plateau and it may extend its losses on Monday.

The global forecast for the Asian markets is negative as Friday's U.S. jobs report fueled uncertainty about the outlook for interest rates. The European and U.S. markets saw modest losses and the Asian bourses figure to follow suit.

The JCI finished sharply lower on Friday following losses from the financial shares and the resource stocks, while the cement companies offered support.

For the day, the index slumped 76.90 points or 1.10 percent to finish at 6,897.90.

Among the actives, Bank Mandiri collected 1.62 percent, while Bank Danamon Indonesia sank 0.77 percent, Bank Negara Indonesia declined 1.47 percent, Bank Central Asia retreated 1.58 percent, Bank Rakyat Indonesia plunged 3.33 percent, Indocement surged 5.48 percent, Semen Indonesia jumped 1.52 percent, United Tractors climbed 1.00 percent, Vale Indonesia fell 0.45 percent and Astra International was unchanged.

The lead from Wall Street is soft as the major averages opened lower on Friday, bounced higher at midday but faded going into the close to end with mild losses.

The Dow shed 87.21 points or 0.22 percent to finish at 38,798.99, while the NASDAQ sank 39.97 points or 0.23 percent to close at 17,133.12 and the S&P 500 fell 5.97 points or 0.11 percent to end at 5,346.99.

For the week, the NASDAQ surged 2.4 percent, the S&P jumped 1.3 percent and the Dow rose 0.3 percent.