FX.co ★ Win Streak May Continue For Indonesia Stock Market

In anticipation of Monday's holiday commemorating the Prophet Muhammad's birthday, the Indonesian stock market has ascended for two consecutive sessions, gaining over 60 points or 0.8 percent in total. The Jakarta Composite Index (JCI) now sits just above the 7,810 point mark, with potential for further gains on Tuesday.

The global outlook for Asian markets suggests minimal fluctuation ahead of the Federal Reserve's monetary policy decision later this week. European and U.S. markets displayed mixed and marginal changes, and Asian markets are expected to follow this trend.

On Friday, the JCI ended slightly higher, buoyed by varied performances from financial shares, resource stocks, and cement companies.

Throughout the day, the JCI rose by 13.98 points or 0.18 percent to close at 7,812.13, within a trading range of 7,775.64 to 7,828.97.

Among key stocks, Bank CIMB Niaga decreased by 0.77 percent, Bank Mandiri fell 0.34 percent, Bank Danamon Indonesia declined 0.38 percent, Bank Negara Indonesia increased 0.45 percent, Bank Central Asia dipped 0.48 percent, and Bank Rakyat Indonesia surged 2.42 percent. Bank Maybank Indonesia dropped 0.85 percent, Indocement improved 0.74 percent, Semen Indonesia eased 0.25 percent, Indofood Sukses Makmur lost 0.70 percent, Astra International climbed 1.00 percent, Astra Agro Lestari retreated 1.55 percent, Aneka Tambang fell 0.74 percent, Jasa Marga added 0.61 percent, Vale Indonesia declined 0.54 percent, Timah decreased 0.50 percent, while Bumi Resources soared 2.06 percent. Indosat Ooredoo Hutchison, United Tractors, Energi Mega Persada, and Perusahaan Gas Negara remained unchanged.

Wall Street's performance on Monday offered little clear direction, with major indices opening mixed, staying near the breakeven line throughout the session, and closing with minimal changes.

The Dow increased by 228.30 points or 0.55 percent to a record 41,622.08, the NASDAQ dropped by 91.85 points or 0.52 percent to 17,592.13, and the S&P 500 rose by 7.07 points or 0.13 percent closing at 5,633.09.

Investors on Wall Street remained cautious and selective as they awaited Wednesday's Federal Reserve monetary policy announcement. The Fed is broadly anticipated to lower interest rates, with CME Group's FedWatch Tool indicating a 65 percent probability of a half-point rate reduction and a 35 percent probability of a quarter-point cut.

On the economic front, the Federal Reserve Bank of New York released a report indicating regional manufacturing growth for the first time in nearly a year, during September.

Oil prices increased on Monday due to tight supply concerns and a weak dollar contributing to the rise. West Texas Intermediate crude oil futures for October rose by $1.44, settling at $70.09 per barrel.

Domestically, Indonesia is set to release its August data for imports, exports, and trade balance later today. Imports are expected to increase by 8.15 percent year-on-year, down from 11.07 percent in July, and exports are anticipated to rise by an annual 3.83 percent, down from the previous month’s 6.46 percent. In July, the trade surplus was recorded at $0.47 billion.