FX.co ★ Indonesia Stocks Pare Gains After Hitting Fresh High

The IDX Composite ascended by 12 points, or 0.1%, reaching 8,404 on Monday afternoon, marking its fourth consecutive session of gains. This upward trend mirrored global market optimism, driven by the potential resolution of the prolonged U.S. government shutdown as the Senate made progress on a new agreement. Investor sentiment further improved following reports of China, Indonesia's largest trading partner, experiencing positive consumer price growth for the first time in eight months, alongside a reduction in the rate of decline for producer prices. Domestically, consumer confidence reached a six-month peak in October, bolstered by government cash incentives and other supportive measures. However, markets moderated their initial gains after achieving a record high in the morning session, as traders exercised caution in anticipation of the upcoming release of September's retail sales data on Tuesday, as well as critical Chinese economic indicators later in the week, which include industrial production, retail sales, and unemployment figures. Leading the gains were GojekTokopedia with an 11.5% rise, Impack Pratama Industri at 8.0%, Sarana Menara Nusantara gaining 5.6%, and Merdeka Copper Gold up by 3.3%.