Jakarta Composite Index rose as much as 1.2% on Thursday to 6,413.06, bringing
gains to about 20% from the early‑June low and signaling a move toward
bull‑market territory. Market sentiment has been supported by S&P Global
Ratings’ affirmation of Indonesia’s sovereign rating and outlook, a retreat in
oil prices and Bank Indonesia’s consecutive 50bp hikes in June. MNC Sekuritas
said the index is trading in an established rising channel, with recent rupiah
stabilization further boosting sentiment.