FX.co ★ Indonesia Stocks Hit Near 9-Month High, Break 7,500

Equity markets in Indonesia experienced a boost of 64 points, or 0.9%, climbing to a level of 7,555 by midday on Thursday. This marks the second consecutive day of gains, largely driven by prominent heavyweight stocks. The IDX Composite Index reached its highest point since October 31, 2024, surpassing the 7,500 threshold. This upturn is in line with a favorable trend observed in the overnight trading on Wall Street, spurred by recent trade agreements between the US and the EU. These agreements have also fueled optimism for comprehensive trade deals between the US and China, which is Indonesia’s leading trade partner. The IDX Composite Index showed a positive trend beginning from July 11, experiencing a temporary dip on Tuesday, July 22, due to profit-taking activities. The majority of sectors witnessed positive trading, with the financial sector taking the lead, surging by 3.3%. Notably, top-performing stocks included Sinar Mas Multiartha, which jumped by 20%, MSIG Life, up by 11.4%, Bank Syariah Indonesia growing by 4.4%, BRI increasing by 3.2%, and Bank Mandiri advancing by 2.9%.