FX.co ★ Indonesia Stocks Hit Fesh Record High

The IDX Composite surged by 69 points, or 0.9%, reaching 8,209 in Tuesday's morning session, setting a new record high for the second consecutive day. This upward momentum mirrored the gains observed overnight on Wall Street, where the S&P 500 and Nasdaq reached unprecedented levels, buoyed by AI-related mergers and acquisitions. Inflows of foreign capital further bolstered market sentiment, with most sectors exhibiting positive performance, led by strong showings in raw materials, energy, infrastructure, and transportation. Traders appeared unfazed by new data indicating that Indonesia’s foreign exchange reserves had dipped to a 14-month low, a result of the central bank's interventions to stabilize the Rupiah and the government's debt repayments. Investors are now keenly awaiting the release of September's consumer confidence data on Wednesday and August's retail sales figures on Thursday. Leading the pack in terms of performance were Astra International (up 3.0%), Japfa Comfeed (up 2.4%), Barito Pacific (up 2.0%), Indofood (up 1.8%), and Charoen Pokphand (up 1.7%).