The Indonesia stock market has tracked higher in back-to-back trading days, gathering almost 95 points or 1.5 percent along the way. The Jakarta Composite Index now rests just beneath the 6,275-point plateau and it’s expected to extend its gains again on Monday.
The global forecast for the Asian markets is upbeat following solid U.S. employment data and an encouraging outlook for interest rates. The European and U.S. markets were sharply higher on Friday and the Asian bourses are expected to open in similar fashion.
The JCI finished modestly higher on Friday as gains from the financial shares and resource stocks were tempered by weakness from the cement stocks.
For the day, the index advanced 53.53 points or 0.86 percent to finish at the daily high of 6,274.54 after sinking as low as 6,200.85.
Among the actives, Bumi Resources skyrocketed 11.97 percent, while Aneka Tambang advanced 1.33 percent, Vale Indonesia jumped 1.95 percent, Indocement skidded 1.48 percent, Semen Indonesia shed 0.22 percent, United Tractors surged 5.17 percent, Indofood Suskes lost 0.67 percent, Holcim Indonesia climbed 1.28 percent, Unilever Indonesia added 0.63 percent, Bank Danamon Indonesia collected 0.64 percent, Bank Central Asia gained 0.48 percent, Bank Mandiri spiked 3.83 percent, Bank Rakyat Indonesia perked 1.10 percent, Indosat gathered 4.55 percent and Bank Negara Indonesia was unchanged.
The lead from Wall Street is broadly positive as stocks surged to the upside on Friday, more than offsetting the sharp pullback a day earlier.
The Dow surged 746.94 points or 3.29 percent to 23,433.16, while the NASDAQ soared 275.35 points or 4.26 percent to 6,738.86 and the S&P jumped 84.05 points or 3.43 percent to 2,531.94. For the week, the Dow added 1.6 percent, the NASDAQ gained 2.3 percent and the S&P climbed 1.9 percent.
The rebound on Wall Street reflected a positive reaction to