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Indonesia Bourse Predicted To Open In The Red

The Indonesia stock market has moved lower in two of three trading days since the end of the three-day winning streak in which it had advanced more than 100 points or 1.5 percent. The Jakarta Composite Index now rests just above the 6,535-point plateau and it's tipped to open under pressure again on Friday.

The global forecast for the Asian markets is broadly lower on global growth concerns and sliding oil prices. The European and U.S. bourses were down and the Asian markets are tipped to follow that lead.

The JCI finished slightly lower on Thursday following losses from the resource stocks and a mixed picture from the financial and cement sectors.

For the day, the index eased 11.42 points or 0.17 percent to finish at 6,536.46 after trading between 6,517.23 and 6,563.98.

Among the actives, Indocement added 0.91 percent, while Semen Indonesia shed 0.78 percent, United Tractors eased 0.19 percent, Indofood Suskes lost 0.65 percent, Unilever Indonesia fell 0.30 percent, Holcim Indonesia dipped 0.25 percent, Bank Central Asia slid 0.09 percent, Bank Mandiri climbed 1.00 percent, Bank Negara Indonesia was down 0.27 percent, Bank Rakyat Indonesia collected 0.26 percent, Indosat soared 5.76 percent, Bumi Resources tumbled 2.47 percent, Aneka Tambang plummeted 3.20 percent, Vale Indonesia plunged 3.02 percent and Bank Danamon Indonesia was unchanged.

The lead from Wall Street is weak as stocks opened lower on Thursday and crept further into the red as the day progressed - extending losses from the previous session.

The Dow shed 220.77 points or 0.87 percent to 25,169, while the NASDAQ lost 86.93 points or 1.18 percent to 7,288.93 and the S&P 500 fell 25.56 points or 0.94 percent to 2,706.05.

Renewed concerns about a U.S.-China trade deal generated selling pressure after reports said President Donald Trump and Chinese President Xi Jinping are "highly unlikely" to meet before March 2 - when tariffs on Chinese goods are set to jump automatically.

Worries about the U.S.-China trade talks added to concerns about the global economy after the European Commission lowered its eurozone growth forecast. The downgrade reflected external factors, such as trade tensions, the uncertainty concerning Brexit and the slowdown in emerging markets, notably in China.

Crude oil prices declined on Thursday on concerns of demand growth due to the ongoing trade dispute between the U.S. and China. West Texas Intermediate Crude oil futures for March ended down $1.37 or 2.5 percent at $52.64 a barrel, the lowest settlement in more than a week.

Closer to home, Indonesia will release Q4 numbers for its current and financial accounts later today. In the previous three months, the current account deficit was $8.85 million and the financial account deficit was $4.16 million.

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