FX.co ★ Shares in Indonesia Notch Fresh Peak, Weekly Surge on Track

Indonesian stocks climbed 54 points, or 0.7%, reaching a new peak of 8,325 in early Friday trading. This advance builds upon previous gains and indicates a potential weekly increase of approximately 5%. Market sentiment was boosted by a positive session on Wall Street, spurred by reduced trade tensions after confirmation from the White House that President Trump will meet with Chinese leader Xi Jinping in South Korea next week. Additionally, China's Vice Premier He Lifeng is scheduled to hold discussions with U.S. Treasury Secretary Bessent and Trade Representative Greer at the ASEAN Summit in Malaysia starting today. The likelihood of reduced interest rates further fueled buying interest, following six rate cuts by Bank Indonesia since September 2024. Finance Minister Purbaya Yudhi Sadewa also suggested that the central bank might lower its key rate to 3.5% if inflation remains steady at 2.5%. On an international scale, the U.S. Federal Reserve is anticipated to reduce rates next week and once more in December. Leading gainers included Unilever Indonesia, which rose by 5.8%, Bank Permata by 3.5%, Merdeka Battery Materials by 2.6%, and Bukit Asam by 2.2%.