FX.co ★ Indonesia Equities Notch New Top

The IDX Composite Index in Indonesia climbed 43 points, or 0.5%, reaching a new high of 8,672 during early trading on Monday. This uptick marks a recovery from the subdued close observed on Friday, as most sectors experienced gains, particularly consumer durables, communications, and industrial services. The positive shift in sentiment is attributed to a rally on Wall Street the previous Friday and increased optimism regarding potential interest rate cuts by the Federal Reserve later in the week, with another reduction anticipated in January. Domestically, the economic outlook remains steady yet cautious, with short-term progress dependent on the swift execution of fiscal policies to repair significant natural disaster damage across Sumatra, the most severe in over a decade. Gains were moderated following upcoming key economic reports from China, including December's trade data, as well as the Consumer Price Index (CPI) and Producer Price Index (PPI) results expected later this week. Additionally, Bank Indonesia is set to release November's consumer confidence figures and October's retail sales data shortly. Among early standout performers were Indokripto Koin Semesta, which rose by 8.7%, MD Entertainment by 5.0%, Gojek Tokopedia by 3.1%, and Pantai Indah Kapuk Dua by 2.0%.