Indonesia's Jakarta Composite Enters Bull Market with 10%+ Gain Since June Low

According to LSEG data, Indonesia's Jakarta Composite Index has surged more than 10% since hitting a five-year low in June, crossing into technical bull market territory. Despite declining nearly 29% year-to-date, the index has sparked renewed investor interest following S&P Global Ratings' decision two weeks ago to maintain Indonesia's 'BBB' sovereign credit rating with a stable outlook. Kiwoom Securities noted that Indonesian stocks have become "highly attractive" after months of heavy selling, while Capital Economics pointed to MSCI's decision to pause a potential downgrade of Indonesia's market classification as a source of relief for investors.
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