Indonesia Bourse May Extend Friday’s Gains

The Indonesia stock market bounced higher again on Friday, one day after ending the two-day jump in which it had rallied more than 560 points or 10 percent. The Jakarta Composite Index now sits just above the 6,000-point plateau and it’s tipped to open in the green again on Monday.

The global forecast for the Asian markets is cautiously optimistic on hopes for an end to the conflict in the Middle East. The European and U.S. markets were up and the Asian bourses are expected to open in similar fashion.

The JCI finished sharply higher on Friday following gains from the financial shares, telecoms and resource stocks, although the financial sector was weak.

For the day, the index spiked 121.62 points or 2.07 percent to finish ay 6,007.66 after trading between 5,952.85 and 6,074.07.

Among the actives, Bank CIMB Niaga expanded 1.64 percent, while Bank Mandiri skidded 1.18 percent, Bank Danamon Indonesia collected 1.29 percent, Bank Negara Indonesia jumped 1.71 percent, Bank Central Asia gained 1.72 percent, Indosat Ooredoo Hutchison tumbled 2.11 percent, Indocement slumped 1.20 percent, Semen Indonesia retreated 1.29 percent, Indofood Sukses Makmur spiked 3.21 percent, United Tractors accelerated 3.45 percent, Astra International increased 0.85 percent, Energi Mega Persada added 0.72 percent, Astra Agro Lestari vaulted 2.07 percent, Antam soared 4.78 percent, Vale Indonesia skyrocketed 10.30 percent, Timah surged 5.10 percent, Bumi Resources rallied 12.14 percent and Bank Rakyat Indonesia was unchanged.