FX.co ★ Indonesia Shares Inch Higher

In Thursday morning trading, Indonesia's IDX Composite saw a slight increase, rising 11 points or 0.1% to reach 8,625. This followed a relatively quiet session the previous day. The upward movement was buoyed by a positive shift in U.S. futures ahead of the anticipated Friday release of the PCE index and next week’s pivotal Federal Reserve policy meeting. During this meeting, a 25 basis point interest rate cut is anticipated. The sectors of consumer durables, producer manufacturing, and industrial services were at the forefront of the gains. This momentum was partly driven by November's PMI figures, which indicated a rise in factory activities within Indonesia, spurred by robust year-end demand and persistent governmental financial support. Nevertheless, the overall gains were tempered by a sense of caution as investors awaited the release of November's foreign exchange reserves. October figures had shown a slight increase from a 14-month low, as the central bank continued its efforts to stabilize the rupiah. Meanwhile, in China—one of Indonesia's principal trading partners—November's weak PMI data suggested minimal likelihood of new economic stimulus. Leading performers in the market included Impack Pratama Ind. with a 4.4% increase, United Tractors up by 3.3%, Maha Properti advancing 2.2%, and Merdeka Battery Materials rising by 1.9%.