FX.co ★ Indonesia Stocks Extend Strength on Global and Domestic Cues

Indonesia's stock market experienced an uptick, climbing 47 points or 0.6% to reach 8,215 on Thursday morning. This marks the second consecutive day of gains, propelled by a significant rise in U.S. futures following the Federal Reserve's second rate reduction of the year. Meanwhile, President Trump and China's President Xi Jinping have arrived in Busan, South Korea, in anticipation of a pivotal meeting concerning trade and tariff discussions. Domestically, Finance Minister Purbaya Yudhi Sadewa indicated that Indonesia faces minimal risk of demand-driven inflation following recent liquidity enhancements. He emphasized that the fiscal and monetary landscape remains stable, with inflation pressures being mainly cost-related. The market's advance was dominated by the manufacturing, healthcare, and financial sectors, showcasing notable performances from Gojek Tokopedia (5.4%), Vale Indonesia (4.0%), Bank Mandiri (3.4%), and Cisarua Mountain Dairy (2.4%). However, potential further increases were moderated by prevailing caution ahead of upcoming China PMI data and local trade and inflation statistics.