Indonesian equities rise 1% as Bank Indonesia meeting begins

Indonesian stocks climbed 63 points or 1.0% to 6,463 on Tuesday morning deals, building gains from the prior session as markets reopened after Monday's holiday.

Sentiment was buoyed by optimism that economic output will stay resilient next year, supported by improved fiscal conditions, reforms in energy security, and capital-market transparency.

Meanwhile, the central bank will begin its first policy meeting today, the first time since Perry Warjiyo’s departure last month, with hopes of continuity prospects growing under acting Governor Destry Damayanti, the sole nominee to lead Bank Indonesia.

However, gains were limited by weaker U.S.equity futures following losses on Wall Street overnight oil prices rose as the US and Iran appeared no closer to a deal.

Still, most sectors advanced, led by energy, basic materials, non-cyclicals, and industry.

Among early standouts were Indika Energy (5.1%), Japfa Comfeed (4.7%), Bumi Resources 02.2%),and United Tractor (2.0%).