Indonesia Stocks Hit Fesh Record High
The IDX Composite in Indonesia rose 69 points (0.9%) to reach a record high of 8,209, continuing its upward trend for the second consecutive session. This increase was influenced by gains on Wall Street and foreign capital inflows, with sectors like raw materials and energy leading the way. Despite a drop in foreign exchange reserves, traders remained optimistic ahead of upcoming consumer confidence and retail sales data. Notable stock performers included Astra International and Japfa Comfeed, among others.
The IDX Composite climbed 69 points, or 0.9%, to 8,209 in morning trade on Tuesday, marking a record high for the second straight session.
The rally tracked overnight gains on Wall Street, where the S&P 500 and Nasdaq hit fresh record highs, driven by AI-related dealmaking.
Foreign capital inflows also lifted market sentiment, while most sectors traded in the green, led by raw materials, energy, infrastructure, and transportation.
Traders shrugged off fresh data showing that Indonesia’s foreign exchange reserves fell to a 14-month low, reflecting the central bank’s efforts to stabilize the Rupiah and the government’s debt repayments.
Investors now await the release of September consumer confidence data, due Wednesday, and August retail sales figures, expected on Thursday.
Among the top performers were Astra International (3.0%), Japfa Comfeed (2.4%), Barito Pacific (2.0%), Indofood (1.8%), and Charoen Pokphand (1.7%).
