Indonesia’s IDX Composite jumped 149 points, or 2.6%, to 5,894 in Friday morning trading, extending its rally to a third consecutive session amid broad-based gains across all sectors. Sentiment was lifted by a solid rise in U.S. stock futures, as investors pared back expectations of further Federal Reserve rate hikes following a softer-than-expected U.S. jobs report.
On the domestic front, investors responded positively to government initiatives aimed at reducing industrial costs, safeguarding employment, and bolstering strategic sectors. Externally, confidence was also supported by data from China, Indonesia’s key trading partner, where services activity remained robust in June, underpinned by easing cost pressures and improving business sentiment.
Among the session’s standout performers were Amman Mineral, up 8.6%; Vale Indonesia, up 8.3%; Indosat, which gained 6.6%; and Astra International, which climbed 3.9%. Despite Friday’s advance, the local market was little changed for the week overall, following a sharp decline in the previous period.
Looking ahead, traders are focused on a series of key domestic data releases due next week, including June foreign-exchange reserves, consumer confidence figures, and May retail sales.