FX.co ★ Indonesia Shares Ease from Record Peak

On Tuesday morning, Indonesian stocks fell by 57 points, or 0.6%, to 8,513, retreating from the record high achieved the day before, as investors opted to secure profits. Market sentiment also weakened as U.S. futures dipped following a tech-induced rally on Wall Street overnight. This dip was spurred by rejuvenated expectations of a potential Federal Reserve rate cut in December. Domestically, October's credit growth slowdown emphasized persistent demand-side challenges, despite the Finance Ministry's IDR 200 trillion liquidity injection in early September. The decline in the Indonesian stock index was primarily driven by a downturn in utilities, non-energy minerals, and consumer non-durables sectors, although advances in health services, communications, and producer manufacturing helped mitigate the losses. Caution prevailed among traders ahead of China's forthcoming industrial profit data for January through October, anticipated later in the week, after showing improvement in previous figures. Early decliners included Indofood Sukses Makmur, which fell by 2.7%, Bank SMBC Indonesia by 1.9%, Indocement Tunggal Prakarsa by 1.5%, and AKR Corp. by 1.2%.