FX.co ★ Indonesian Shares Snap Losing Streak, Monthly Slide Looms

Indonesia’s IDX Composite rose 63 points, or 1.0%, to 6,184 in early Wednesday trading, snapping a four-session losing streak as U.S. stock futures strengthened ahead of a key inflation release expected to influence the Federal Reserve’s rate outlook. Sentiment was further supported by signs of stronger economic activity in China, Indonesia’s largest trading partner, where manufacturing and services growth accelerated in September, particularly across technology and consumer-related sectors.

On the domestic front, Finance Minister Suahasil Nazara told lawmakers that the state budget had been crafted with prudence and credibility to help shield the economy from ongoing global uncertainty, adding another layer of support for risk appetite.

Gains were broad-based, led by industrials, basic materials, energy, and infrastructure. Notable outperformers included Rukun Raharja, up 6.1%; Sentul City, up 5.5%; and United Tractors, up 5.4%.

Despite the day’s rebound, the benchmark index remains on course for its first monthly decline in three months, down about 5.4% so far, pressured by persistent inflation worries, rupiah weakness, and fiscal strains stemming from higher oil prices.