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Indonesia Stock Market Has Flat Lead For Monday

The Indonesia stock market has finished lower in consecutive trading days, sliding almost 50 points or 0.8 percent along the way. The Jakarta Composite Index now rests just above the 6,330-point plateau and it's expected to remain in that neighborhood again on Monday.

The global forecast for the Asian markets is mixed and flat amid a lack of catalysts, although sliding crude oil prices may weigh. The European markets were slightly higher and the U.S. markets were mostly lower - and the Asian markets are tipped to follow the latter lead.

The JCI finished slightly lower on Friday as losses from the resource stocks were offset by support from the cement companies and a mixed picture from the financial sector.

For the day, the index fell 7.33 points or 0.12 percent to finish at 6,334.84 after trading between 6,318.92 and 6,375.80.

Among the actives, Bank Danamon Indonesia shed 0.21 percent, while Bank Mandiri and Bank Rakyat Indonesia both advanced 0.70 percent, Bank Central Asia collected 0.17 percent, Bank Negara Indonesia lost 0.32 percent, Indosat skidded 1.19 percent, Indocement jumped 1.85 percent, Semen Indonesia spiked 2.61 percent, Indofood Suskes fell 0.66 percent, Bumi Resources dropped 1.03 percent, Aneka Tambang plummeted 4.46 percent, Vale Indonesia plunged 4.42 percent and Timah tumbled 2.86 percent.

The lead from Wall Street offers little clarity as stocks showed a lack of direction on Friday, bouncing back and forth across the unchanged line before closing mixed.

The Dow added 37.07 points or 0.14 percent to 27,219.52, while the NASDAQ fell 17.75 points or 0.22 percent and the S&P 500 lost 2.18 points or 0.07 percent to 3,007.39. For the week, the Dow gained 1.6 percent, the NASDAQ rose 0.9 percent and the S&P was up 1 percent.

The choppy trading on Wall Street came as the major averages encountered some resistance as they climbed back within striking distance of the record highs set in July.

Signs of easing trade tensions between the U.S. and China and upbeat economic data generated some positive sentiment, but traders seemed wary amid lingering uncertainty.

In economic news, the Commerce Department said U.S. retail sales rose more than expected in August, while the University of Michigan noted that U.S. consumer sentiment rebounded more than expected in September.

Crude oil prices edged lower on Friday, extending losses to a fourth straight session as traders feared a likely drop in energy demand and excess supply in the market. West Texas Intermediate Crude oil futures for October ended down $0.24 or 0.4 percent at $54.85 a barrel.

Closer to home, Indonesia will provide August data for imports, exports ad trade balance later today. In July, imports were worth $15.51 billion and exports were at $15.45 billion for a trade deficit of $63.5 million.

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