09.10.202503:52:12UTC+00Indonesia Stocks Hit Record High in Morning Trade

In early Thursday trading, the IDX Composite surged by 40 points, or 0.5%, reaching 8,206, marking a new record high—the third in just four days—following a lackluster performance in the previous session. This upward movement mirrored overnight advancements on Wall Street, driven by a rally in technology stocks and increasing expectations of potential further rate cuts by the Federal Reserve this year. On the domestic front, investor sentiment was bolstered by statements from Finance Minister Purbaya Yudhi Sadewa, who conveyed optimism about the index's continued upward trajectory. Adding to the positive sentiment, on Wednesday night, he announced that the government is planning to introduce a new economic stimulus package, succeeding earlier initiatives in June and September, thereby further reinforcing market confidence. Investors largely overlooked recent data indicating a slowdown in Indonesia's retail sales growth for August. Most sectors traded positively, with consumer durables leading the charge. Among the significant gainers were Gudang Garam, up by 6.4%, Bukit Asam at 3.5%, Unilever Indonesia increasing by 3.0%, and Astra International rising by 1.3%.