FX.co ★ Indonesian Equities Set to Log Modest Weekly Gain

Indonesian shares rose 18 points, or 0.3%, to 6,047 in early Friday trade, rebounding after two sessions of losses as U.S. futures strengthened. Sentiment improved following President Trump’s pledge to avoid military action against Iran ahead of the November 3 midterm elections, amid waning public support for war.

Domestically, risk appetite was supported by expectations of fresh Q4 stimulus aimed at shoring up household purchasing power. Upside, however, was limited by a pullback in consumer confidence in September, after August’s three-month high, as rising food prices and higher non-subsidized fuel costs weighed on households.

Investors also remained cautious ahead of key Chinese macro releases following the Golden Week holiday, including CPI, PPI, and trade data. Sector-wise, basic materials, infrastructure, and financials advanced, while healthcare, property, and cyclical stocks came under pressure.

Among notable movers, Sarana Menara Nusantara gained 4.1%, Hartadinata Abadi rose 2.9%, and Telkom Indonesia added 2.2%. For the week, the domestic market was up 0.2% so far, attempting to claw back losses from the previous four sessions, with attention now turning to August retail sales figures due later today.