FX.co ★ IDX Pulls Back from Record Peaks

The IDX Composite Index in Indonesia dropped by 101 points, equivalent to a 1.2% decrease, settling at 8,175 during early trading on Monday. This decline follows the previous week's record-setting performance, as traders opted to secure profits. Additionally, there was an increased sense of caution ahead of crucial domestic data releases expected this week, including September's trade figures and October's inflation data. However, the downturn was somewhat mitigated by a surge in U.S. futures. This came after U.S. Treasury Secretary Bessent announced that President Trump's proposed 100% tariffs on Chinese imports are "effectively off the table." This development paved the way for a meeting between Trump and Xi Jinping this week to finalize a trade agreement. Meanwhile, the U.S. Federal Reserve is anticipated to continue its rate-cutting trajectory in the October meeting. Over in China, a key trading partner, there was a 3.2% year-on-year increase in industrial profits in the first nine months of 2025, up from a 0.9% rise, with a remarkable 21.6% surge in September alone—the fastest growth since November 2023—attributed to initiatives to reduce excess capacity. Major players like Barito Renewables Energy saw a 2.7% drop, while Dian Swastika Sentosa fell by 3.3%, Multipolar Technology by 5.0%, and Impack Pratama Industri by 5.7%.