FX.co ★ Indonesia Stocks Hit 7-Month High, Break Above 7,400

In Tuesday morning trading, Indonesian equities advanced by 47 points, or 0.6%, reaching 7,445, extending their rally for the twelfth consecutive session. This upward trend was supported by dominant stocks and renewed foreign investments. The IDX Composite mirrored the surge seen in the U.S. markets, particularly the S&P 500 and Nasdaq, driven by positive sentiment surrounding robust corporate earnings. The benchmark reached its highest point since December 11, 2024, surpassing the 7,400 threshold. Recent interest rate cuts bolstered investor confidence, alongside potential trade agreements with the United States anticipated to be effective by August 1, as stated by Indonesia’s chief economic minister, Airlangga Hartarto. The rising commodity prices further strengthened market sentiment. The index's growth was predominantly fueled by technology services and financial stocks, with significant gains noted in companies such as DCI Indonesia (17.9%), Informasi Teknologi (6.5%), Data Sinergitama (5.0%), Bank Bupoin (3.2%), and BFI Finance (1.3%).