Jakarta. Indonesian stocks extended their gains for a third straight session on Wednesday, rising 19 points, or 0.31%, to 6,211 in early trading as investors awaited fresh economic data.

Jakarta Composite Index (JCI) moved between 6,209 and 6,214 in the opening minutes. Some 812.57 million shares changed hands, with trading value reaching Rp 164.19 billion ($9.18 million) across 25,703 transactions. A total of 312 stocks gained, 50 declined, and 299 were unchanged.

Phintraco Sekuritas said investors were awaiting Indonesia’s September 2026 foreign exchange reserves data, due later Wednesday. Reserves had risen to $146.5 billion in August from $145.3 billion in July.

Customs and excise revenue reached Rp 240.28 trillion as of September, equivalent to 71.51% of the 2026 state budget target, according to Phintraco. The revenue grew 8.57% year-on-year.

The brokerage also highlighted the World Bank’s projection that Indonesia’s economy will maintain 5.2% growth in both 2026 and 2027, compared with 4.5% growth projected for the East Asia and Pacific region in 2026.

According to the World Bank, economic activity is being supported by stronger implementation of the government’s priority programs, state-related investment and energy subsidies. However, it said the policy mix, while supporting short-term growth, is also contributing to larger fiscal and external imbalances.

Meanwhile, Kiwoom Sekuritas Indonesia said Wall Street closed higher on Tuesday as bond yield increases eased and technology and artificial intelligence stocks strengthened. The S&P 500 rose 0.58%, while the Nasdaq 100 gained 0.45% to a fresh record high. The Dow Jones Industrial Average climbed 253 points.

Pluang Sekuritas said elevated yields were translating into higher borrowing costs for companies, prompting a shift in financing patterns across Asia.

“High yields are not merely a number on the screen, but a real cost for companies seeking to borrow,” Pluang said.

No Asia-Pacific issuer had sold a syndicated dollar bond as of early October, after third-quarter sales fell 10% to around $88 billion. AI-related financing in the region, however, has continued to grow through other channels. Syndicated loans for data centers in Asia have reached $32.6 billion this year, surpassing the $21.5 billion recorded throughout 2025.

Indonesia provides an example through a $3.1 billion loan for Zankore, Pluang said. The shift suggests that as bonds become more expensive, financing is moving toward bank loans that are more selective and relationship-driven. Pressure is also emerging in credit markets, with global spreads widening to their broadest level since April.

As of 9:58 a.m. Jakarta time, Japan’s Nikkei was down 0.86%, South Korea’s Kospi slipped 0.80%, and Hong Kong’s Hang Seng declined 0.63%. China’s stock market remained closed for the Golden Week holiday.

Add as a preferred source on Google +