Higher Open Tipped For Indonesia Stock Market

The Indonesia stock market has finished lower now in two straight sessions, sliding almost 15 points or 0.3 percent along the way. The Jakarta Composite Index settled just above the 5,260-point plateau, although the market is poised to halt its slide on Friday.

The global forecast for the Asian markets is positive, thanks mainly to upbeat economic news from the United States. The European and U.S. markets ended firmly higher, and the Asian bourses are expected to follow that lead.

The JCI finished slightly lower again on Thursday as the resources tocks and financials ended mostly in the red.

For the day, the index fell 6.13 points or 0.12 percent to finish at 5,262.72 after trading between 5,253.45 and 5,266.99. Volume was 3.97 billion shares worth 4.29 trillion rupiah. There were 155 decliners and 140 gainers.

Among the actives, Astra Agro Lestari shed 2.01 percent, while Aneka Tambang jumped 1.90 percent, Bank Central Asia collected 0.38 percent, Bank Negara Indonesia lost 0.40 percent, Bank Danamon Indonesia tumbled 3.85 percent, Bumi Resources fell 1.00 percent, XL Axiata climbed 1.43 percent and Vale Indonesia dropped 1.83 percent.

The lead from Wall Street is firm as stocks showed a strong move to the upside on Thursday, helping the markets recover from the sell-off in the two previous sessions.

The Dow jumped 225.48 points or 1.3 percent to 17,416.85, while the NASDAQ surged 45.41 points or 1 percent to 4,683.41 and the S&P 500 advanced 19.09 points or 1 percent to 2,021.25.

The support was partly attributed to comments Federal Reserve Chair Janet Yellen reportedly made to a group of Senate Democrats at a private luncheon. While Yellen told the lawmakers the U.S. economy is strong, she expressed some concerns about the situation in Europe - easing concerns about the outlook forinterest rates.

Positive sentiment may also have been generated by a report from the Labor Department showing that initial jobless claims fell to a fourteen-year low in the week ended January 24.

And a separate report released by the National Association of Realtors unexpectedly showed a sharp drop in U.S. pending home sales in December.

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