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Indonesia Shares Tipped To Open Under Pressure

The win streak has reached eight sessions now for the Indonesia stock market, which has soared more than 220 points or 4 percent in that span. The Jakarta Composite Index now rests just above the 5,975-point plateau although it's overdue for consolidation on Friday.

The global forecast for the Asian markets suggests mild downside after the Federal Reserve kept interest rates unchanged. The European markets were down and the U.S. bourses were mixed and flat and the Asian markets figure to follow suit.

The JCI finished modestly higher on Thursday following gains from the financial shares, resource stocks and cement companies.

For the day, the index collected 36.92 points or 0.62 percent to finish at 5,976.81 after trading between 5,949.52 and 5,996.84.

Among the actives, Bumi Resources skyrocketed 12.43 percent, while Vale Indonesia surged 2.49 percent, Aneka Tambang gained 2.16 percent, XL Axiata soared 5.09 percent, Voksel Electric spiked 2.12 percent, SLJ Global jumped 2.06 percent, Bank Pan Indonesia climbed 1.90 percent, Bank Danamon Indonesia collected 0.33 percent, Bank Central Asia shed 0.41 percent, Bank Mandiri perked 2.04 percent, Bank Negara Indonesia gathered 1.28 percent, Bank Rakyat Indonesia added 2.37 percent, Indosat skidded 1.29 percent, Indocement was up 0.28 percent, Semen Indonesia advanced 1.03 percent and Bukit Darmo Property, Jasa Marga and Bank MNC Internasional were unchanged.

The lead from Wall Street is soft as stocks fluctuated over the course of the trading session on Thursday before finishing mixed and little changed.

The Dow added 10.92 points or 0.04 percent to 26,191.22, while the NASDAQ lost 39.87 points or 0.53 percent to 7,530.88 and the S&P 500 fell 7.06 points or 0.25 percent to end at 2,806.83.

The mixed performance on Wall Street came after the Federal Reserve announced its widely anticipated decision to maintain the target range for the federal funds rate at 2 to 2.25 percent.

The Fed's accompanying statement noted a slowdown in the pace of growth in business investment, but the central bank reiterated further gradual increases in interest rates remain appropriate.

In economic news, the Labor Department noted a slight decrease in initial jobless claims in the week ended November 3.

Crude oil futures drifted lower on Thursday, extending losses to a ninth straight session on concerns over rising inventories and economic uncertainty. Crude oil futures for December ended down $1.00 or 1.6 percent at $60.67 a barrel, the lowest settlement price in about eight months.

Closer to home, Indonesia will provide Q3 data for current account later today; in the three months prior, the deficit was $8.03 billion, while the capital account saw a surplus of $3 million and the financial account had a surplus of $4.02 billion.

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