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Indonesia Stock Market May Break 6,300-Point Barrier

The Indonesia stock market has alternated between positive and negative finishes through the last five trading days since the end of the two-day slide in which it had stumbled almost 50 points or 0.8 percent. The Jakarta Composite Index now rests just beneath the 6,275-point plateau

The global forecast for the Asian markets is upbeat on easing geopolitical concerns in the Middle East. The European and U.S. markets finished higher and the Asian bourses are tipped to open in similar fashion.

The JCI finished modestly higher on Thursday following gains from the financial shares and a mixed picture from the resource stocks.

For the day, the index gained 48.81 points or 0.78 percent to finish at the daily high of 6,274.49 after trading as low as 6,238.98.

Among the actives, Bank Mandiri spiked 2.67 percent, while Bank Central Asia advanced 0.90 percent, Bank Negara Indonesia soared 3.70 percent, Bank Rakyat Indonesia collected 0.46 percent, Indosat added 0.70 percent, Indocement climbed 1.65 percent, Semen Indonesia jumped 1.67 percent, Indofood Suskes rose 0.30 percent, Aneka Tambang tumbled 2.76 percent, Vale Indonesia was up 0.85 percent and Timah, Bukit Asam, Bank Danamon Indonesia and Bumi Resources were unchanged.

The lead from Wall Street is positive as stocks saw continued upside on Thursday, propelling the major averages to fresh record closing highs.

The Dow added 212.08 points or 0.74 percent to 28,957.17, while the NASDAQ gained 74.18 points or 0.81 percent to 9,203.43 and the S&P 500 rose 21.65 points or 0.67 percent to 3,274.70.

Easing concerns about the conflict between the U.S. and Iran contributed to the continued strength on Wall Street amid signs of de-escalation.

Nonetheless, overall trading activity was subdued ahead of the release of the Labor Department's monthly jobs report later today.

Crude oil futures settled near four-week lows on Thursday as higher U.S. crude inventories and easing worries about U.S.-Iran standoff pushed prices down for a second straight session. West Texas Intermediate Crude oil futures for February ended down $0.05 or 0.03 percent at $59.56 a barrel, off the session's low of $58.66 a barrel.

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