FX.co ★ Record Highs for Indonesia Equities Continue

Indonesian stocks experienced an uptick of 57 points, or 0.7%, reaching a new pinnacle of 8,451 during Monday's morning trading session, marking the fourth consecutive session of gains. The increase was comprehensive, with notable growth in utilities, healthcare, and industrial services sectors. Investor sentiment was buoyed by optimism surrounding a potential resolution to the U.S. government shutdown, which supported a rise in U.S. futures following a turbulent week. In China, Indonesia's largest trading partner, consumer prices saw an increase in October for the first time since June, driven by holiday spending, while the decline in factory-gate prices was the least pronounced in 14 months, alleviating some deflation risks. Domestically, consumer sentiment reached a six-month high in October, spurred by government initiatives such as cash handouts. However, market gains were tempered in anticipation of September's local retail turnover data and significant October economic indicators from China, including industrial production, retail sales, and unemployment figures. Early market leaders included companies such as Barito Renewables Energy (up by 4.5%), Sarana Menara Nusantara (up by 5.6%), Archi Indonesia (up by 3.5%), and Bayan Resources (up by 1.5%).