(RTTNews) - The Indonesia stock market on Friday ended the six-day winning streak in which it had surged more than 330 points or 6.5 percent. The Jakarta Composite Index now sits just above the 6,065-point plateau although it's expected to open higher again on Monday.
The global forecast for the Asian markets is positive in response to U.S. employment data and rising crude oil prices. The European and U.S. markets were up and the Asian bourses are tipped to open in similar fashion.
The JCI finished modestly lower on Friday following losses from the financial shares, cement companies and resource stocks.
For the day, the index lost 26.34 points or 0.43 percent to finish at 6,065.17 after trading between 6,043.86 and 6,103.86.
Among the actives, Bank Danamon Indonesia dropped 0.84 percent, while Bank CIMB Niaga retreated 1.52 percent, Bank Negara Indonesia gave away 2.17 percent, Bank Central Asia dipped 0.30 percent, Bank Mandiri tumbled 2.00 percent, Bank Rakyat Indonesia fell 0.46 percent, Indosat tanked 3.97 percent, Indocement skidded 1.39 percent, Semen Indonesia declined 1.66 percent, Indofood Suskes surrendered 1.50 percent, United Tractors shed 0.53 percent, Astra International plummeted 2.34 percent, Astra Agro Lestari dipped 0.27 percent, Aneka Tambang plunged 3.57 percent, Vale Indonesia sank 2.88 percent, Timah lost 2.18 percent and Bumi Resources and Energi Mega Persada were unchanged.
The lead from Wall Street is solid as the major averages opened firmly higher on Friday and picked up steam as the session progressed.
The Dow climbed 179.39 points or 0.52 percent to finish at 34,756.39, while the NASDAQ jumped 199.99 points or 1.47 percent to end at 13.814.49 and the S&P 500 advanced 37.04 points or 0.88 percent to close at 4,229.89. For the week, the Dow rose 0.7 percent, the NASDAQ added 0.5 percent and the S&P rose 0.6 percent.
The strength on Wall Street came after the Labor Department report showed job growth in the U.S. reaccelerated in May but fell short of estimates, while the jobless rate fell to 5.8 percent.
Traders viewed the weaker than expected job growth as a Goldilocks situation, where the economy is expanding but not fast enough to encourage the Federal Reserve to tighten monetary policy.
Crude oil prices moved higher Friday amid rising hopes for increased demand and the recent OPEC decision to gradually increase crude output. West Texas Intermediate Crude oil futures for July ended up $0.81 or 1.2 percent at $69.62 a barrel, the highest settlement since October 2018.
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