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Indonesia Bourse Predicted To Halt Slide On Friday

The Indonesia stock market has finished lower in back-to-back trading days, sliding more than 30 points or 0.5 percent along the way. The Jakarta Composite Index now rests just beneath the 6,275-point plateau although it may bounce higher again on Friday.

The global forecast for the Asian markets is upbeat on rising oil prices and an improved outlook for interest rates. The European and U.S. markets were up and the Asian bourses are tipped to follow suit.

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

For the day, the index lost 3.09 points or 0.05 percent to finish at 6,273.08 after trading between 6,250.12 and 6,284.46.

Among the actives, Bank Danamon Indonesia added 0.43 percent, while Bank Mandiri shed 0.63 percent, Bank Central Asia lost 0.68 percent, Bank Negara Indonesia collected 0.58 percent, Bank Rakyat Indonesia fell 0.24 percent, Indosat plunged 4.19 percent, Indocement sank 0.48 percent, Semen Indonesia dropped 1.08 percent, Bumi Resources tumbled 2.44 percent, Aneka Tambang dipped 0.64 percent, Vale Indonesia skidded 2.04 percent, Timah advanced 0.85 percent and Indofood Suskes was unchanged.

The lead from Wall Street is positive as stocks bounced higher Thursday following two days of weakness, although the buying interest was somewhat subdued.

The Dow added 101.94 points or 0.39 percent to 26,106.77, while the NASDAQ gained 44.41 points or 0.57 percent to 7,837.13 and the S&P 500 rose 11.80 points or 0.41 percent to 2,891.64.

Continued optimism tame inflation will lead the Federal Reserve to cut interest rates contributed to the strength on Wall Street after a Labor Department report showed bigger than expected decreases in U.S. import and export prices.

Crude oil prices rebounded Thursday from five-month lows, as reports of an attack on oil tankers in the Gulf of Oman suggested a likely fall in crude supply in the international market. West Texas Intermediate Crude oil futures for July ended up $1.14 or 2.2 percent at $52.28 a barrel.

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