FX.co ★ Indonesian Stocks Rise to 2-Week High, Eye Solid Weekly Gain

Indonesian equities climbed 39 points, or 0.8%, to 5,291 in early Friday trading, extending gains to a two-week high. The market is on course for a solid weekly rise of about 5.3%, supported by easing political uncertainty after Vice President Gibran Rakabuming’s resignation, alongside assurances from government officials that economic activity remains unaffected.

In MSCI’s November review, Barito Pacific and Bumi Resources were removed from its global index, reducing the number of Indonesian constituents to seven, including the four major banks. Nearly all sectors advanced, led by technology, property, energy, and financials. Upside momentum, however, was capped by caution ahead of next week’s Bank Indonesia policy meeting, where officials face an increasingly difficult trade-off between maintaining rupiah stability and supporting economic growth.

On the global front, Wall Street closed lower overnight following leadership changes at Nvidia. Among local names, top performers included ESSA Industries (up 9.6%), Solusi Sinergi Digital (7.4%), Semen Indonesia (3.9%), and Telkom Indonesia (2.3%).