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Indonesia Shares Draw Flat Lead For Monday's Trade

The Indonesia stock market on Friday ended the three-day winning streak in which it had gathered more than 170 points or 3.4 percent. The Jakarta Composite Index now rests just above the 5,140-point plateau and it figures to be rangebound again on Monday.

The global forecast for the Asian markets remains mired in uncertainty, balancing better than expected economic data, tumbling crude oil prices and continued uncertainty over stimulus. The European and U.S. markets were slightly higher and the Asian markets now look to open roughly flat.

The JCI finished modestly lower on Friday following mixed performances from the financial shares, resource stocks and cement companies.

For the day, the index shed 34.38 points or 0.66 percent to finish at 5,143.89 after trading between 5,119.68 and 5,187.37.

Among the actives, Bank Danamon Indonesia collected 0.36 percent, while Bank Mandiri added 0.43 percent, Bank Negara Indonesia shed 0.43 percent, Indosat lost 0.42 percent, Indocement tanked 3.85 percent, Semen Indonesia advanced 0.78 percent, Indofood Suskes tumbled 2.14 percent, Astra Agro Lestari gained 0.52 percent, Aneka Tambang rose 0.60 percent, Vale Indonesia sank 1.08 percent, Timah rallied 0.63 percent, Perusahaan Gas retreated 2.02 percent and Bumi Resources was unchanged.

The lead from Wall Street offers little clarity as stocks opened lower Friday and remained in the red throughout much of the day until a late rally pushed the Dow and S&P barely into the green - although the NASDAQ stayed negative on profit taking after big gains last week.

The Dow added 46.50 points or 0.17 percent to finish at 27,433.48, while the NASDAQ dropped 97.09 points or 0.87 percent to end at 11,010.98 and the S&P 500 rose 2.12 points or 0.06 percent to close at 3,351.28.

The uncertainty on Wall Street was the result of growing uncertainty about a new coronavirus relief plan following the failure of the lawmakers to arrive at an agreement amid reports of spiked in various cases around the world.

Tensions between the U.S. and China have escalated following the Trump administration unveiling a ban on U.S. transactions with ByteDance's TikTok and Tencent-owned WeChat.

In economic data, the Labor Department reported a larger than expected increase in employment last month as the jobless rate fell to 10.2 percent.

Crude oil prices drifted lower Friday on concerns about outlook for energy demand after reports showed spikes in coronavirus cases in several parts across the world. West Texas Intermediate crude oil futures for September ended down $0.67 or 1.6 percent at $41.28 a barrel. For the week, WTI crude oil futures gained 2.1 percent.

Closer to home, Indonesia will provide Q2 numbers for current account later today; in the three months prior, the current account deficit was $3.9 million.

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