FX.co ★ Indonesia Shares Rise Further

Indonesia's IDX Composite gained 63 points, or 0.7%, reaching 8,612 during Tuesday's morning trading session, building on previous session's advances. This upward trend is attributed to strong performance in logistics, energy minerals, and communications sectors. Positive indicators such as robust factory activity in November, a healthy trade surplus for October, and reduced inflation in November bolstered market sentiment. Additionally, an increase in tourism demand, spurred by discounted fares and government incentives, is observed as the year-end holidays approach. However, further gains were somewhat restrained by the demands of disaster response due to severe flooding, landslides, and cyclone-related disturbances across regions such as Aceh, West Sumatra, and North Sumatra. The market was also cautious following early December declines on Wall Street, as investors anticipated the upcoming release of the Federal Reserve's preferred inflation measure, expected to indicate ongoing but moderate inflationary pressures. Notable early movers in Jakarta's stock market included Elang Mahkota Teknologi, surging 6.6%; Chandra Daya Investasi, up by 6.3%; Petrosea, gaining 4.5%; and Chandra Asri Pacific, rising 4.0%.