FX.co ★ Indonesia Equities Rise After 2-Day Losses

The IDX Composite advanced by 28 points, totaling a 0.3% rise to reach 8,392 on Wednesday, effectively halting a two-day downward trend. This upturn was supported by a slight increase in U.S. futures following a mixed session on Wall Street, particularly as Congress seemed close to resolving the shutdown situation. Additionally, investor sentiment was bolstered by the announcement that China, Indonesia's largest trading partner, had introduced new initiatives to encourage private investment in infrastructure and energy sectors, such as nuclear and hydropower. On the home front, Indonesia witnessed a continuous rise in retail sales for the fifth month in a row as of September, with growth momentum increasing, supported by governmental strategies to maintain consumer purchasing power. However, the index's gains were somewhat restrained due to investor wariness about upcoming significant U.S. inflation data and persistent foreign withdrawals from major banking stocks. The communications sector, industrial services, and process industries led the market rally, with significant gainers such as Jhonlin Agro Raya jumping 12.9%, Pradiksi Gunatama rising 9.9%, Gudang Garam increasing 3.0%, and Barito Pacific climbing 2.8%.