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Indonesia Shares Predicted To Open In The Red

The Indonesia stock market has finished lower in two of three trading days since the end of the four-day winning streak in which it had gathered almost 75 points or 1.2 percent. The Jakarta Composite Index now rests just beneath the 6,375-point plateau and it may tick lower again on Monday.

The global forecast for the Asian markets is negative on pessimism over the outlook for interest rates. The European and U.S. markets were down Friday and now the Asian bourses are expected to open in similar fashion.

The JCI finished slightly lower on Friday following mixed performances from the financials, resource stocks and cement companies.

For the day, the index eased 2.49 points or 0.04 percent to finish at 6,373.48 after trading between 6,362.92 and 6,386.64.

Among the actives, Bank Danamon Indonesia collected 0.64 percent, while Bank Mandiri plunged 2.49 percent, Bank Central Asia fell 0.33 percent, Bank Negara Indonesia tumbled 1.87 percent, Bank Rakyat Indonesia added 0.23 percent, Indosat jumped 1.88 percent, Indocement dropped 0 .94 percent, Semen Indonesia rose 0.20 percent, Indofood Suskes sank 0.71 percent, United Tractors climbed 1.17 percent, Bumi Resources soared 3.39 percent, Aneka Tambang retreated 1.22 percent, Vale Indonesia plunged 2.04 percent and Timah surged 2.43 percent.

The lead from Wall Street is soft as stocks opened sharply lower Friday, recovered as the day progressed but still ended in the red.

The Dow shed 43.88 points or 0.16 percent to finish at 26,922.12, while the NASDAQ lost 8.44 points or 0.10 percent to 8,161.79 and the S&P 500 fell 5.41 points or 0.18 percent to 2,990.41. For the week, the Dow jumped 1.2 percent, the NASDAQ surged 1.9 percent and the S&P rose 1.7 percent.

The early pullback followed the release of the Labor Department report showing a substantial growth in U.S. employment in June. While the data points to a rebound in the labor market, the report dampened investor hopes for a near-term interest rate cut by the Federal Reserve.

Oil futures settled modestly higher on Friday but saw a loss of 1.6 percent for the week as traders continued to weigh the commodity's near-term supply and demand prospects. West Texas Intermediate crude oil futures for August ended up $0.17 or 0.3 percent at $57.51 a barrel.

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