Indonesian Stocks Open Higher as Rupiah Weakness, Fed Rate Bets Weigh on Sentiment

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Jakarta. Indonesian stocks edged higher at Friday's open, gaining 14 points or 0.28% to 5,265, as investors weighed continued Rupiah depreciation, domestic political uncertainty…

Jakarta. Indonesian stocks edged higher at Friday's open, gaining 14 points or 0.28% to 5,265, as investors weighed continued Rupiah depreciation, domestic political uncertainty and concerns over further foreign outflows following MSCI's November rebalancing.

RTI data showed that 1.08 billion shares had changed hands in early trading, with a transaction value of Rp 461.94 billion ($25.34 million) across 64,971 transactions. A total of 125 stocks advanced, 121 declined and 170 remained unchanged.

Phintraco Sekuritas identified the Rupiah's continued depreciation as one of the key risks facing the market. The currency's weakness has been driven partly by a stronger US dollar amid expectations that the Federal Reserve could raise interest rates in December, as well as domestic political developments.

"Concerns over further capital outflows following MSCI's November 2026 index rebalancing have also added to the pressure," Phintraco Sekuritas said.

The brokerage said prolonged Rupiah weakness had strengthened expectations that Bank Indonesia could raise its benchmark BI Rate at next week's Board of Governors Meeting (RDG). A sustained depreciation could fuel imported inflation, although it could benefit export-oriented companies.

Separately, Phintraco Sekuritas noted that Bank Indonesia had officially implemented a Renminbi clearing bank as a supporting institution for the money and foreign exchange markets (PUVA) to strengthen the resilience of the domestic economy.

"This strategic move aims to expand access to Renminbi liquidity in the domestic market, improve the efficiency of Indonesia-China trade and investment, and maintain Rupiah exchange rate stability," the brokerage added.

Global market sentiment remained cautious amid growing uncertainty over the direction of US monetary policy and developments in the US-Iran conflict, Kiwoom Sekuritas Indonesia said in a Friday report.

Higher-than-expected US inflation in October reinforced concerns that price pressures were…

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