FX.co ★ Indonesia Shares Rise 0.7% in Afternoon Deals

On Monday afternoon, Indonesia's stock market experienced a notable uptick as equities climbed 60 points, or 0.7%, reaching 8,431. This recovery followed minor declines in the previous trading session. The elevation was largely driven by a positive movement in U.S. stocks that boosted investor confidence, with market participants anticipating the release of corporate earnings and key data updates after the conclusion of the U.S. government shutdown. Across the Indonesian market (IDX), most sectors saw gains, particularly in communications, energy minerals, and consumer services. This growth was spurred by news that China, Indonesia’s largest trading partner, intends to adopt a "more proactive" policy stance moving forward, while still managing its debt risks. However, the market's upward momentum was somewhat restrained by investor caution ahead of the upcoming Bank Indonesia policy meeting and the release of Q3 current account data later in the week. Additionally, geopolitical tensions surfaced as Japanese Prime Minister Sanae Takaichi expressed concerns that a Chinese military action against Taiwan could endanger Japan's security and potentially trigger a military response. Notable performers in the market included Dian Swastatika Sentosa with a 7.4% increase, MD Entertainment rising by 6.1%, Telkom Indonesia gaining 1.7%, and Bank Mandiri up by 1.5%.