Composite index of the Indonesia Stock Exchange (IDX) increased to an all-time high of 7034, as traders cheered an announcement by Indonesia’s President Joko Widodo Thursday about further relaxation of COVID-19 curbs following declines in new daily cases just days before the fasting month of Ramadan. Risk appetite was also buoyed by a positive note from the IMF saying the country had maintained its economic stability and the financial sector amid the ongoing pandemic.
The global institution also expressed its appreciation toward the nation’s commitment to stay ahead of the curve while still paying attention to the inflation rate as well as efforts to encourage financial market deepening and inclusion. Gains were almost broad-based, led by real estate, basic materials, and energy.