FX.co ★ Indonesian Stocks Recover from 6-Year Low

Indonesian shares jumped 114 points, or 2.3%, to 5,036 in early Thursday trading, extending earlier gains as bargain hunters moved in after the market hit a six-year low earlier this week. Sentiment was further supported by an overnight rally on Wall Street, driven by sharply lower oil prices and reduced uncertainty following the Democrats’ victory in the U.S. midterm elections. Locally, confidence improved after regulators announced new sanctions for alleged stock market violations, part of a broader reform push following MSCI’s warning of a possible downgrade. All major sectors advanced, led by basic materials, industrials, and non-cyclicals. Among the standout movers were Merdeka Copper Gold (up 12%), Archi Indonesia (10.3%), and Telkom (6.6%). Still, gains were limited by investor caution ahead of Q3 GDP figures due later today, with growth expected to slow further amid mounting economic headwinds. At the same time, the deployment of 20,000 troops across Jakarta after the arrest of three senior police officers added to political tensions.