FX.co ★ Indonesia Shares Inch Higher

Indonesia's IDX Composite index edged higher by 10 points, or 0.1%, reaching 8,330 on Thursday morning. The index made efforts to sustain its gains after achieving a new high, buoyed by robust performance across various sectors. Market sentiment improved following a rebound on Wall Street overnight, where encouraging U.S. private payrolls data alleviated concerns regarding high valuations of AI stocks. Domestically, Indonesia's Q3 GDP growth stood at 5.04% year-on-year, highlighting the country's economic resilience despite weaker consumer spending and investment, with support from a rebound in government expenditure and reduced imports. The unemployment rate remained relatively high at 4.85% during the third quarter, translating to approximately 7.46 million individuals. Additionally, state-owned banks are reportedly facing increased lending responsibilities following a recent IDR 200 trillion liquidity infusion. Investors are now keenly awaiting significant economic reports from China, a key trading partner, including data on trade and inflation for October. Among the early market movers were Impack Pratama Industri, rising by 6.5%, Petrosea with a 6.3% increase, Siloam International up by 3.8%, and Global Digital Niaga advancing by 3.4%.