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Higher Open Tipped For Indonesia Stock Market

The Indonesia stock market has finished higher in three straight sessions, advancing more than 155 points or 2.6 percent along the way. The Jakarta Composite Index now sits just above the 6,085-point plateau and it's looking at another solid start again on Monday.

The global forecast for the Asian markets suggests mild upside on continued optimism for economic recovery. The European and U.S. markets were up on Friday and the Asian bourses are tipped to open in similar fashion.

The JCI finished slightly higher on Friday following mixed performances from the cement and resource stocks, while the financials were soft.

For the day, the index rose 6.76 points or 0.11 percent to finish at 6,086.26 after trading between 6,062.92 and 6,115.62.

Among the actives, Bank Danamon Indonesia tanked 2.96 percent, while Bank CIMB Niaga shed 0.46 percent, Bank Negara Indonesia lost 0.42 percent, Bank Central Asia eased 0.08 percent, Bank Rakyat Indonesia declined 1.59 percent, Indosat and Indocement both added 0.77 percent, Semen Indonesia retreated 1.62 percent, Indofood Suskes gained 0.75 percent, United Tractors jumped 1.73 percent, Astra Agro Lestari fell 0.25 percent, Aneka Tambang soared 3.02 percent, Vale Indonesia advanced 0.93 percent, Timah improved 1.62 percent, Bumi Resources climbed 1.67 percent and Astra International, Energi Mega Persada, Bank Mandiri and Jasa Marga were unchanged.

The lead from Wall Street ends up being positive as the major averages shook off a mixed open on Friday to finish modestly in the green.

The Dow jumped 164.68 points or 0.48 percent to finish at 34,200.67, while the NASDAQ rose 13.58 points or 0.10 percent to end at 14,052.34 and the S&P 500 gained 15.05 points or 0.36 percent to close at 4,185.47. For the week, the S&P spiked 1.4 percent, the Dow rose 1.2 percent and the NASDAQ gained 1.1 percent.

Upbeat earnings news generated continued buying interest, as Morgan Stanley (MS) joined other financial giants in reporting better than expected first quarter earnings.

In economic news, the Commerce Department noted a substantial rebound in new residential construction in March, while the University of Michigan said sentiment has continued to improve in April.

Crude oil prices drifted lower on Friday, snapping a four-session winning streak but still finishing sharply higher for the week. West Texas Intermediate Crude oil futures for May were down $0.33 or 0.5 percent at $63.13 a barrel, although the contract gained nearly 6.5 percent in the week.

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