Indonesia Bourse May See Profit Taking On Monday

The Indonesia stock market has tracked higher in three straight sessions, accelerating more than 210 points or 2.4 percent along the way. The Jakarta Composite Index now sits just shy of the 8,750-point plateau although it’s due for consolidation on Monday.

The global forecast for the Asian markets is uncertain amidst geopolitical concerns in South America. The European and U.S. markets were slightly higher and the somewhat overbought Asian bourses are expected to open in mixed fashion.

The JCI finished sharply higher on Friday following gains from the resource stocks and telecoms, while the food and financial sectors were soft and the cement companies were mixed.

For the day, the index climbed 101.19 points or 1.17 percent to finish at the daily high of 8,748.13 after trading as low as 8,664.97.

Among the actives, Bank CIMB Niaga slumped 1.12 percent, while Bank Mandiri shed 0.49 percent, Bank Danamon Indonesia collected 0.40 percent, Bank Negara Indonesia tanked 2.52 percent, Bank Central Asia lost 0.62 percent, Bank Rakyat Indonesia fell 0.55 percent, Indosat Ooredoo Hutchison jumped 1.72 percent, Indocement skidded 1.00 percent, Semen Indonesia improved 0.76 percent, Indofood Sukses Makmur contracted 1.48 percent, United Tractors rallied 2.03 percent, Astra International accelerated 1.49 percent, Energi Mega Persada vaulted 2.50 percent, Aneka Tambang expanded 1.90 percent, Timah advanced 0.96 percent, Bumi Resources skyrocketed 14.75 percent and Astra Agro Lestari and Vale Indonesia were unchanged.

The lead from Wall Street is mostly upbeat as the major averages spent most of Friday’s session hugging the line for much of the day before finishing mostly in the green.

The Dow climbed 319.09 points or 0.66 percent to finish at 48,382.39, while the NASDAQ dipped 6.37 points or 0.03 percent to close at 23,235.63 and the S&P 500 added12.97 points or 0.19 percent to end at 6,858.47.

For the week, the NASDAQ dropped 1.5 percent, the S&P sank 1.0 percent and the Dow lost 0.7 percent.

The lackluster performance by the broader markets came as some traders remained away from their desks following the New Year’s Day holiday on Thursday.

Geopolitical concerns may weigh on sentiment after the U.S. carried out a large-scale strike against Venezuela. That country’s leader, President Nicolás Maduro, along with his wife, had been captured and flown out of Venezuela.

Crude oil prices ticked lower on Friday ahead of Sunday’s OPEC meeting, with West Texas Intermediate crude for February delivery dipping $0.12 or 0.2 percent to $57.30. On Sunday, OPEC decided to keep output levels unchanged, as expected. For 2025, crude fell almost 20 percent.

Closer to home, Indonesia will release November trade numbers and December inflation data later today. Imports are expected to rise 3.2 percent on year after slipping 1.15 percent in October. Exports re called lower by an annual 0.5 percent after falling 2.31 percent in the previous month. The trade surplus is pegged at $3.10 billion, up from $2.40 billion a month earlier. In November, overall inflation was up 0.17 percent on month and 2.72 percent on year, while core CPI rose an annual 2.36 percent.

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