FX.co ★ Indonesia Stocks Edge Higher

In early Wednesday trading, Indonesia's IDX Composite rose by 15 points, equivalent to 0.2%, reaching 8,534. This uptick came in response to improved U.S. futures driven by heightened expectations of a Federal Reserve rate cut in December, following weaker U.S. economic data. Sectors such as healthcare, commercial, and industrial services spearheaded the early gains, buoyed by optimism about Indonesia’s stable macroeconomic environment as the year draws to a close. This confidence is bolstered by sufficient energy supplies, robust trade activity, and ongoing tax compliance measures. However, gains were tempered by cautious sentiment ahead of Indonesia’s November PMI report, due next week, following a third consecutive month of manufacturing growth recorded in October. In addition, significant releases from Indonesia’s statistics agency are anticipated in the coming week, including November’s inflation data and trade figures for October. Among the early standout performers were Japfa Comfeed, up 3.4%, Archi Indonesia with a 2.6% increase, Mitra Keluarga Karyasehat rising by 2.4%, and Bank Panin Indonesia appreciating by 1.9%.