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Indonesia Bourse May Spin Its Wheels On Monday

The Indonesia stock market has moved higher in two straight sessions, gathering almost 50 points or 0.8 percent along the way. The Jakarta Composite Index remains just beneath the 6,275-point plateau although it's looking at a soft start on Monday.

The global forecast for the Asian markets is slightly soft as disappointing U.S. jobs data may trigger profit taking after recent gains. The European and U.S. markets were down on Friday and the Asian bourses are tipped to follow suit.

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

For the day, the index rose 0.45 points or 0.01 percent to 6,274.94 after trading between 6,271.98 and 6,295.37.

Among the actives, Bank Danamon Indonesia climbed 1.05 percent, while Bank Negara Indonesia and Bank Mandiri both collected 0.32 percent, Bank Central Asia shed 0.22 percent, Bank Rakyat Indonesia rose 0.23 percent, Indosat gained 0.70 percent, Indocement tumbled 2.03 percent, Bumi Resources surged 4.41 percent, Aneka Tambang gained 0.57 percent, Vale Indonesia and Timah both sank 1.68 percent and Semen Indonesia and Indofood Suskes were unchanged.

The lead from Wall Street is negative as stocks opened higher on Friday but headed south in the late morning and finished in the red, pulling back from record closing highs.

The major averages finished with mild losses as the Dow shed 133.13 points or 0.46 percent to 28,823.77, while the NASDAQ dipped 24.57 points or 0.27 percent to 9,178.86 and the S&P 500 fell 9.35 points or 0.29 percent to 3,265.35.

The higher open was the result of continued optimism over easing concerns about a conflict between the U.S. and Iran.

But the markets turned lower in late morning after the Labor Department's closely watched non-farm payroll data showed the pace of job growth slowed more than expected in December.

Crude oil prices drifted lower Friday, declining for a fourth successive session, amid easing tensions in the Middle East, after the U.S. decided against military action on Iran. West Texas Intermediate Crude oil futures for February ended down $0.52, or about 0.9 percent, at $59.04 a barrel.

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