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Indonesia Stock Market May Add To Its Winnings

The Indonesia stock market has finished higher in three straight sessions, collecting almost 90 points or 1.4 percent along the way. The Jakarta Composite Index now rests just beneath the 6,425-point plateau and it may extend its gains on Friday.

The global forecast for the Asian markets is firm on renewed optimism about and end to the trade dispute between the United States and China. The European markets were down and the U.S. bourses were up and the Asian markets figure to follow the latter lead.

The JCI finished slightly higher on Thursday following gains from the cement stocks and mixed performances from the financial shares and resource companies.

For the day, the index collected 10.42 points or 0.16 percent to finish at 6,423.78 after trading between 6,410.95 and 6,457.73.

Among the actives, Bumi Resources jumped 3.14 percent, while Aneka Tambang dropped 2.87 percent, Vale Indonesia declined 1.62 percent, Indocement soared 3.93 percent, Semen Indonesia spiked 4.19 percent, United Tractors jumped 3.07 percent, Holcim Indonesia added 0.82 percent, Unilever Indonesia advanced 1.98 percent, Indosat tumbled 2.86 percent, Bank Danamon Indonesia skidded 1.17 percent, Bank Central Asia collected 0.85 percent, Bank Mandiri gathered 0.96 percent, Bank Rakyat Indonesia added 0.79 percent and Indofood Suskes and Bank Negara Indonesia were unchanged.

The lead from Wall Street is positive as stocks shook off early weakness and shot higher late Thursday to finish firmly in positive territory.

The Dow added 162.94 points or 0.67 percent to 24,370, while the NASDAQ added 48.77 points or 0.71 percent to 7,084.46 and the S&P 500 rose 19.86 points or 0.76 percent to 2,635.96.

The late-day rally followed reports that the U.S. is considering lifting tariffs on Chinese goods in an effort to calm markets and give Beijing an incentive to make deeper concessions.

The early weakness was a negative reaction to disappointing quarterly results from Morgan Stanley (MS), which missed expectations.

Crude oil prices rebounded after early weakness but still settled lower on Thursday, amid renewed concerns about excess supply and likely fall in near term energy demand. Crude oil futures for February ended down $0.24 or 0.5 percent at $52.07 a barrel.

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