Indonesia IDX Composite rises 0.6% in early Friday trade
Indonesia’s IDX Composite gained 38 points, or 0.6%, to 6,558 in early Friday trade, extending the prior session’s momentum. Traders looked to Fed rate-path signals from Kevin Warsh’s Jackson Hole speech and Bank Indonesia governor candidate news.
Indonesia’s IDX Composite rose 38 points, or 0.6%, to 6,558 in early Friday trade, extending momentum from the prior session after Wall Street’s overnight strength buoyed sentiment.
Investors awaited signals on the Fed’s rate path from Chair Kevin Warsh’s debut Jackson Hole speech later today.
Locally, confidence was steadied by Thursday’s orderly protest in Jakarta, with no major security disruptions.
At the same time, attention turned to the House of Representatives’ expected announcement on the Bank Indonesia governor candidate.
Upside was tempered by caution ahead of August inflation data, with El Niño risks fueling concern over food prices, and July trade figures due after persistent deficits in May and June.
Energy, financials, and non-cyclicals led gains, with Petrindo Jaya Kreasi (4.3%), Elang Mahkota Teknologi (2.0%), Bank Central Asia (1.2%), and Sumber Alfaria Trijaya (1.1%) among standouts.
For the week, the market is poised for a second straight rise, up about 0.4% so far.