08.01.202603:07:20UTC+00Record Highs Hold as Indonesia Stocks Extend Gains

On Thursday morning, Indonesian stocks rose by 51 points, or 0.6%, reaching 8,994, setting a new peak and continuing a seven-session growth streak. This increase was primarily driven by specific stock factors rather than a general shift towards risk-taking. Meanwhile, domestic inflation remained within the central bank’s target range, alleviating concerns about household purchasing power. Additionally, President Prabowo Subianto's announcement of achieving rice self-sufficiency by 2025 boosted optimism. However, gains were tempered by caution ahead of the upcoming December foreign exchange reserves data, expected later today, and persistent deflation risks in China, Indonesia’s largest trading partner, with upcoming CPI and PPI figures scheduled for release on Friday. In the United States, markets had a mixed closing the previous night, with the S&P 500 and Dow Jones declining from their record highs, while the Nasdaq saw a marginal increase, influenced by anticipation of key labor data. Sector performance was varied, though early leaders included Petrosea with a rise of 5.5%, Barito Pacific at 4.3%, Alamtri Resources up by 4.0%, and Bank Rakyat Indonesia gaining 1.1%.