“Indonesia Shares Kick Off November on a Strong Note
Indonesia’s IDX Composite rose 1.1% to 8,254 on November's first trading day, rebounding from previous losses. Gains were led by healthcare, utilities, and communications sectors, supported by a modest rise in U.S. futures. The S&P Global Indonesia Manufacturing PMI increased to 51.2 in October, indicating expansion. Jakarta emphasized deficit discipline and diversified funding, including a CNY 6 billion Dim Sum bond. Caution remains ahead of key data releases, with early movers including Barito Renewable Energy (7.2%) and Telkom Indonesia (4.4%).
Indonesia’s IDX Composite rose 90 points, or 1.1%, to 8,254 on the first trading day of November, rebounding from losses in the prior session.
Gains were broad-based, led by healthcare, utilities, and communications sectors.
A modest rise in U.S. futures lifted sentiment, as traders monitored last week’s central bank meetings and the U.S.-China year-long trade truce.
Meantime, the S&P Global Indonesia Manufacturing PMI increased to 51.2 in October from 50.4 in September, marking the third month of expansion on the back of stronger new orders and employment.
Locally, Jakarta reinforced deficit discipline, ruling out burden-sharing with the central bank and tapping diversified funding, including Indonesia’s first Dim Sum bond worth CNY 6 billion.
However, caution persisted ahead of key data releases later today, including September trade and October inflation figures.
Early movers included Barito Renewable Energy (7.2%), Telkom Indonesia (4.4%), Petrosea (3.3%), and Astra Intl. (2.9%).
