Plus   Neg

Indonesia Shares May Extend Winning Streak

Ahead of the three-day Easter weekend, the Indonesia stock market had finished higher in three straight sessions, collecting more than 100 points or 1.4 percent along the way. The Jakarta Composite Index now rests just above the 6,505-point plateau and it's tipped to open in the green again on Monday as it catches up on missed sentiment.

The global forecast for the Asian markets is likely all about inertia, since most of the European and U.S. markets were closed Friday for the long Easter weekend. Little movement is expected for the Asian bourses.

The JCI finished modestly higher on Thursday as gains from the cement stocks and financials were tempered by weakness from the resource stocks.

For the day, the index added 25.68 points or 0.40 percent to finish at 6,507.22 after trading between 6,487.23 and 6,636.33.

Among the actives, Bank Danamon plummeted 8.75 percent, while Bank Mandiri spiked 2.30 percent, Bank Central Asia soared 2.37 percent, Bank Negara Indonesia jumped 1.55 percent, Bank Rakyat surged 2.76 percent, Indosat climbed 1.11 percent, Indocement advanced 1.63 percent, Semen Indonesia perked 3.00 percent, United Tractors skidded 1.32 percent, Indofood Suskes plunged 2.71 percent, Aneka Tambang dropped 1.12 percent, Vale Indonesia plummeted 3.05 percent, Timah added 1.49 percent and Unilever and Bumi Resources were unchanged.

There are precious few catalysts for trade on Monday as the U.S. and most major European was closed for Good Friday. The European markets remain closed for Easter Monday as well, while Wall Street returns to action later today.

The geopolitical scene remained blissfully quiet and many traders are expected to remain away from their desks today, so the Asian markets are setting up for a quiet session.

In U.S. economic news, the Commerce Department reported an unexpected drop in new residential construction and building permits in March.

For comments and feedback contact: editorial@rttnews.com

Follow RTT