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Indonesia Shares Expected To Find Traction On Monday

The Indonesia stock market has finished lower in three straight sessions, sliding almost 80 points or 1.3 percent along the way. The Jakarta Composite Index now rests just above the 6,405-point plateau and it may stop the bleeding on Monday.

The global forecast for the Asian markets is upbeat after earnings season kicked off with better than expected numbers. The European and U.S. markets were up and the Asian bourses figure to follow suit.

The JCI finished barely lower on Friday following losses from the cement companies and resource stocks, while the financials came in mixed.

For the day, the index dipped 4.30 points or 0.07 percent to finish at 6,405.87 after trading between 6,394.91 and 6,422.27.

Among the actives, Bank Danamon Indonesia skidded 1.75 percent, while Bank Mandiri dropped 1.01 percent, Bank Central Asia collected 0.36 percent, Bank Rakyat Indonesia added 0.23 percent, Indosat surged 7.06 percent, Indocement tumbled 3.21 percent, Semen Indonesia plunged 4.76 percent, United Tractors rose 0.69 percent, Indofood Suskes spiked 2.43 percent, Unilever Indonesia jumped 1.96 percent, Bumi Resources dropped 1.79 percent, Aneka Tambang shed 1.68 percent, Vale Indonesia fell 0.59 percent, Timah plummeted 3.65 percent and Bank Negara Indonesia was unchanged.

The lead from Wall Street is positive as stocks opened higher on Friday and remained in the green throughout the session.

The Dow jumped 269.25 points or 1.03 percent to 26,412.30, while the NASDAQ added 36.80 points or 0.46 percent to 7,984.16 and the S&P 500 rose 19.09 points or 0.66 percent to 2,907.41. For the week, the Dow fell 0.1 percent, while the NASDAQ added 0.6 percent and the S&P 500 rose 0.5 percent.

The early strength on Wall Street followed quarterly results from JPMorgan Chase (JPM), which posted record Q1 earnings and revenues that beat the street - although some apprehension remains ahead of more earnings news this week.

In economic news, the Labor Department noted a bigger than expected increase in import prices in March, while the University of Michigan said that consumer sentiment deteriorated more than expected in April.

Crude oil futures ended higher on Friday with escalating unrest in Libya, the U.S. sanctions on Iran and Venezuela and OPEC-led output cuts tightening crude supply in the global market. West Texas Intermediate Crude oil futures for May ended up $0.31 or 0.5 percent at $63.89 a barrel.

Closer to home, Indonesia will provide March figures for imports, exports and trade balance later today. In February, imports were worth $12.20 billion and exports were at $12.53 billion for a trade surplus of $0.33 billion.

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