Rally May Stall For Indonesia Stock Market

The Indonesia stock market has climbed higher in four straight sessions, advancing more than 150 points or 2.7 percent along the way. The Jakarta Composite Index now rests just above the 5,900-point plateau although it may run out of steam on Monday.

The global forecast for the Asian markets is soft, with technology stocks expected to weigh amid profit taking and concerns over the outlook for interest rates. The European markets were mixed and the U.S. bourses were down and the Asian markets are tipped to follow the latter lead.

The JCI finished sharply higher on Friday following gains from the financials, cement and resource stocks.

For the day, the index jumped 70.37 points or 1.21 percent to finish at the daily high of 5,906.29 after moving as low as 5,827.15.

Among the actives, XL Axiata plunged 5.86 percent, while Bukit Darmo Property plummeted 4.76 percent, Lotte Chemical added 0.65 percent, Jasa Marga climbed 1.46 percent, Bank Central Asia collected 0.84 percent, Bank Mandiri spiked 2.77 percent, Bank Negara Indonesia soared 4.71 percent, Bank Rakyat Indonesia jumped 2.50 percent, Indosat tumbled 3.29 percent, Bumi Resources skidded 1.20 percent, Aneka Tambang advanced 1.46 percent, Vale Indonesia surged 5.88 percent, Indocement perked 2.81 percent, Semen Indonesia spiked 5.14 percent, Holcim Indonesia soared 5.78 percent and Bank Danamon Indonesia, SLJ Global, Voksel Electric, Bank MNC Internasional and Bank Pan Indonesia were unchanged.

The lead from Wall Street is soft as stocks shrugged off a positive open, moving lower as the day progressed and ending in the red.

The Dow fell 109.91 points or 0.43 percent to 25,270.83, while the NASDAQ slumped 77.06 points or 1.04 percent to 7,356.99 and the S&P slid 17.31 points or 0.63 percent to 2,723.06. For the week, the NASDAQ surged 2.6 percent, and the Dow and the S&P

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