FX.co ★ Indonesia Shares Kick Off November on a Strong Note

Indonesia's IDX Composite experienced an uptick of 90 points, or 1.1%, reaching 8,254 as markets opened on the first day of November. This recovery follows a previously negative session, with gains observed across a wide range of sectors, particularly in healthcare, utilities, and communications. Investor confidence was bolstered by a slight increase in U.S. futures, as traders continued to assess recent decisions from various central bank meetings and the ongoing year-long trade truce between the U.S. and China. Furthermore, the S&P Global Indonesia Manufacturing PMI rose to 51.2 in October, up from 50.4 in September, indicating the third consecutive month of growth in manufacturing activities driven by a surge in new orders and employment. On a domestic level, Jakarta emphasized fiscal discipline by ruling out burden-sharing with the central bank and resorting to diverse financing options, which included issuing its inaugural Dim Sum bond valued at CNY 6 billion. Nevertheless, cautious sentiment prevailed ahead of the release of significant economic data scheduled for later in the day, encompassing trade figures for September and inflation data for October. Early standout performers in the market included Barito Renewable Energy (up 7.2%), Telkom Indonesia (up 4.4%), Petrosea (up 3.3%), and Astra International (up 2.9%).