FX.co ★ Indonesia Shares Rise to 7-Month Top

In Friday's morning trading, Indonesian stocks saw an increase of 87 points, or 1.2%, reaching 7,374, thereby continuing their rally for the ninth consecutive session. This positive momentum mirrored the gains seen overnight on Wall Street, bolstered by robust corporate earnings and strong economic indicators. The IDX Composite climbed to its highest point since mid-December 2024, surpassing the 7,300 threshold for the first instance, a move supported by a steady influx of foreign investments. Investor confidence remained high following the central bank's interest rate cut announced on Wednesday, coupled with recent trade agreements secured with the United States over the weekend. Furthermore, the market was buoyed by impressive performances from newly listed IPOs. The majority of sectors experienced gains, with technology services and utilities leading the charge. Notable early gainers included DCI Indonesia, which surged by 20%, Telkom Indonesia with a rise of 4.6%, Barito Renewables Energy, up by 3.2%, and BRI, increasing by 1.0%.