Indonesia Stocks Hit New Record, Log Strong Weekly Gains
Indonesia's IDX Composite reached a record high of 8,387, gaining 2.8% weekly. Investors remained optimistic despite weak Chinese trade data, supported by Indonesia's stable outlook and rising foreign reserves of USD 149.9 billion. The market was buoyed by stronger U.S. futures, with gains in healthcare, industrial, and consumer sectors. Notable stock increases included Indosat (8.9%) and Petrindo Jaya Kreasi (7.1%). However, caution prevailed ahead of upcoming Chinese CPI and PPI data, as well as Indonesia's consumer confidence report.
Indonesia’s IDX Composite climbed 52 points, or 0.6%, to a record high of 8,387 on Friday, securing a 2.8% weekly advance.
Investors shrugged off weak Chinese trade data despite China being a key trading partner, as optimism grew over Indonesia’s stable outlook supported by resilient growth, solid fiscal liquidity, and a gradual export recovery.
Meanwhile, foreign reserves rose to USD 149.9 billion in October from a 15-month low of USD 148.7 billion, signaling improving external buffers.
Sentiment also benefited from stronger U.S. futures, hinting at a Wall Street rebound after Thursday’s tech-led sell-off on stretched AI valuations and U.S. shutdown worries.
Gains were led by healthcare, industrial, and consumer sectors, with notable advances in Indosat (8.9%), Petrindo Jaya Kreasi (7.1%), and Elang Mahkota Teknologi (7.2%).
Still, upside was capped by caution ahead of China’s CPI and PPI data due over the weekend and Indonesia’s October consumer confidence report next week.
