FX.co ★ Indonesia Equities Reach New Top

Indonesian stocks advanced by 30 points, or 0.3%, reaching a new peak of 8,645 during early trading on Wednesday. This marks the third consecutive session of gains, primarily fueled by the performance of consumer durables, industrial services, and healthcare sectors. Investor sentiment was buoyed by a slight uptick in U.S. futures following a rebound on Wall Street overnight, along with optimism regarding a potential rate cut by the Federal Reserve next week. Domestically, confidence remained robust amidst indications of manufacturing stabilization and fresh capital infusions into major State-Owned Enterprises such as Garuda Indonesia. On the policy front, the central bank plans to initiate forums between banks and businesses to tackle the issue of weak loan demand. However, gains were partially restricted due to concerns about natural disasters affecting parts of Sumatra Island, which have disrupted electricity and fuel supplies. In China, a key trading partner, service sector activity continued to decelerate in November despite Beijing's attempts to boost demand. Among notable stock movers were Raharja Energi Cepu, which rose by 5.3%, MD Entertainment, which increased by 4.1%, and Cisarua Mountain Dairy, which climbed by 3.5%.