Indonesia’s IDX Composite rose 77 points, or nearly 1%, to 8,293 in Thursday morning trade, snapping a two-session losing streak as markets reopened after the holidays. The advance was underpinned by resilient growth momentum, seasonally strong consumption, and robust external buffers.
The central bank also convened a two-day policy meeting and is widely expected to keep its benchmark rate unchanged for a fifth consecutive time, with the decision due later on Thursday. However, a pullback in U.S. futures capped further gains after Wall Street’s subdued close, as select technology stocks continued to face pressure from the less favorable side of the AI boom ahead of the release of FOMC minutes later today and the PCE Price Index in the coming days. Mainland Chinese markets remain closed all week for the Spring Festival.
Broad-based buying supported all sectors, led by infrastructure, non-cyclical consumer names, and industrials. Among heavyweights, Barito Renewables Energy climbed 3.1%, while notable gainers also included Merdeka Gold Resources (up 7.2%), Impack Pratama Industri (5.3%), and Sumber Alfaria Trijaya (3.3%).
