(RTTNews.com) - The Indonesia stock market has alternated between positive and negative finishes through the last five trading days since the end of the three-day slide in which it had retreated almost 90 points or 1.5 percent. The JCI now rests just above the 6,190-point plateau and it's expected to open higher again on Friday.
The global forecast for the Asian markets is cautiously optimistic as the U.S. stock markets shrugged off heavy damage in the morning to rise again on bargain hunting - although weakness from crude oil prices may cap the upside.
The JCI finished sharply higher on Thursday following gains from the cement, food and financial shares.
For the day, the index advanced 62.79 points or 1.02 percent to finish at 6,190.64 after trading between 6,157.65 and 6,191.70.
Among the actives, Indocement spiked 2.49 percent, while Semen Indonesia climbed 1.08 percent, United Tractors jumped 1.66 percent, Indofood Suskes perked 1.02 percent, Unilver Indonesia soared 2.36 percent, Holcim Indonesia added 0.81 percent, Bank Danamon Indonesia surged 3.78 percent, Bank Central Asia shed 0.57 percent, Bank Mandiri collected 0.69 percent, Bank Negara Indonesia gathered 1.15 percent, Bank Rakyat Indonesia was up 1.67 percent, Indosat lost 0.59 percent, Vale Indonesia spiked 3.86 percent and Bumi Resources and Aneka Tambang were unchanged.
The lead from Wall Street is positive as stocks shook off heavy weakness on Thursday morning, skyrocketing off their worst levels of the day and into positive territory.
The Dow jumped 260.24 points or 1.14 percent to 23,138.69, while the NASDAQ added 25.14 points or 0.38 percent to 6,579.49 and the S&P 500 gained 21.13 points or 0.86 percent to 2,488.83.
The early weakness came as traders cashed in on Wednesday's surge, which saw the Dow record its biggest single-day gain ever. Lingering concerns about the global economic outlook may also have weighed - although the late-day rally came on further bargain hunting.
In economic news, the Conference Board noted a significant deterioration in consumer confidence in December. Also, the Labor Department saw a slight drop in first-time claims for U.S. unemployment benefits in the week ended December 22.
Crude oil futures declined sharply Thursday - one day after rebounding from 18-month lows. West Texas Intermediate crude oil futures for February ended down $1.61 or 3.5 percent at $44.61 a barrel.
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