04.09.202602:32:29UTC+00Indonesian Shares Set to Close Week Sharply Higher

Indonesia’s IDX Composite rose 15 points, or 0.2%, to 6,676 in early Friday trade, extending the previous session’s gains and reaching its highest level in three and a half months. Market sentiment was buoyed by an overnight rally on Wall Street, after dovish comments from Fed Governor Waller led traders to scale back expectations for further US rate hikes. Confidence was further supported by a smooth leadership transition at Bank Indonesia, with newly inaugurated Governor Destry Damayanti pledging a responsive policy stance to safeguard financial stability and support economic growth.

Gains, however, were capped by caution ahead of key domestic data due next week, including August foreign exchange reserves, consumer confidence, and July retail sales. Investor worries over inflation also persisted after August price growth accelerated, amid concerns that potential El Niño–related disruptions could pressure food supplies. Among notable movers were Indah Kiat Pulp & Paper (up 1.7%), Mitra Adiperkasa (1.1%), and Bumi Resources (1.0%). For the week, the index remained on track to post solid gains of about 2.7%, reversing earlier declines.