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Indonesia Bourse Draws Positive Lead

The Indonesia stock market turned lower again on Friday, one session after it had ended the three-day slide in which it had stumbled more than 30 points or 0.5 percent. The Jakarta Composite Index now rests just above the 6,055 point plateau although it's predicted to bounce higher again on Monday.

The global forecast for the Asian markets is broadly positive after the United States and China agreed to a truce in their trade war. The European markets were down and the U.S. bourses were up and the Asian markets are tipped for follow the latter lead.

The JCI finished modestly lower on Friday following mixed performances from the financial shares and resource stocks.

For the day, the index fell 51.04 points or 0.84 percent to finish at the daily low of 6,056.12 after peaking at 6,117.19.

Among the actives, Jasa Marga soared 3.25 percent, while Voksel Electric skidded 1.87 percent, Bukit Darmo Property dropped 1.64 percent, Bank Pan Indonesia collected 0.81 percent, Lotte Chemical shed 0.63 percent, XL Axiata lost 0.49 percent, Bumi Resources advanced 0.78 percent, Aneka Tambang slid 1.60 percent, Vale Indonesia perked 1.68 percent and Bank MNC Internasional and SLJ Global were unchanged.

The lead from Wall Street is upbeat as stocks shrugged off an early move to the downside on Friday, rebounding to finish in the green.

The Dow added 199.62 points or 0.79 percent to 25,538.46, the NASDAQ gained 57.45 points or 0.79 percent to 7,330.54 and the S&P was up 22.41 points or 0.82 percent to 2,760.17. For the week, the NASDAQ surged 5.6 percent, the Dow spiked 5.1 percent and the S&P added 4.8 percent.

The strength on Wall Street reflected optimism ahead of the highly anticipated meeting between President Donald Trump and Chinese President Xi Jinping at the G20 summit in Argentina. At the meeting, the leaders agreed to suspend the escalating trade dispute between the world's two largest economies.

In economic news, MNI Indicators reported a substantial acceleration in the pace of growth in Chicago-area business activity in November.

Crude oil prices slipped on Friday as demand growth worries resurfaced after China reported its weakest factory growth in more than two years. Crude oil futures for January settled at $50.93 a barrel, down $0.52 or 1 percent.

Closer to home, Indonesia will provide November numbers for consumer prices later today; in October, overall inflation was up 0.28 percent on month and 3.2 percent on year, while core CPI was up 2.9 percent on year.

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