28.08.202503:58:48UTC+00Indonesia Stocks Hit Record High in Early Trade

The IDX Composite saw a rise of 45 points, or 0.6%, reaching 7,981 during Thursday morning's trading session. This marks a continuation of gains from the prior day and sets a new record high. Investor outlook brightened due to increasing expectations for a Federal Reserve interest rate cut in September, spurred by dovish comments from Fed Chair Jerome Powell the previous week. On the domestic front, positive sentiment was bolstered by Bank Indonesia's recent decision to lower its benchmark interest rate by 25 basis points, alongside a newly established policy agreement between the government and the House of Representatives concerning macroeconomic indicators, including the economic growth targets for the fiscal year 2026. Nearly all sectors experienced positive activity, with raw materials leading at a 1.2% increase, followed by healthcare, energy, and technology sectors. Traders largely disregarded a workers' protest advocating for higher wages. Among the top performers were Perusahaan Gas Negara, which rose by 2.1%, Astra International at 1.8%, Bank Danamon at 1.6%, and Indofood at 0.8%.