Asian markets diverged Wednesday after fresh records on Wall Street and remarks by the Fed chief that hinted the US central bank would cut interest rates later this year, without offering a clear timeframe.

Asian markets rose Tuesday following gains in US stocks and ahead of Fed chief Jerome Powell's testimony to Congress which will be closely watched for any hints on the timing of rate cuts.

The euro slipped in Asian trade on Monday after snap French elections in which a hung parliament appeared the likeliest outcome, as markets in the region searched for direction after Wall Street closed the previous week on a strong note.

Brokerages warn the scheme could make the IDX Composite index more volatile and potentially push valuations down if regulators do not carefully select which stocks may be short-sold.

Asian equities rose and the dollar slipped further on Thursday as investors welcomed more data pointing to a softening labor market that gives the Federal Reserve room to cut interest rates, with another key jobs report due later in the day.

Asian stocks rose Wednesday following fresh records on Wall Street after Federal Reserve chief Jerome Powell fanned hopes of an interest rate cut by saying the battle against inflation had made "progress" and the job market was cooling.

The euro rose on Monday after the first round of France's snap election put the far-right in pole position, though by a smaller margin than projected, while a downgrade to Japan's first-quarter growth figures knocked the yen lower.

The MSCI world stock index hit a record high while the US dollar index inched lower on Friday after data showed that US inflation was flat in May, fueling investor optimism the Federal Reserve could begin cutting interest rates in September.

While the election is four months away, investors anticipate a Trump presidency would mean lower corporate taxes, tougher trade relations and therefore higher stock prices and bond yields.

The yen extended losses to a fresh 38-year low Friday, putting investors on guard for a possible intervention by Japanese authorities ahead of the release of key US inflation data later in the day.

Japanese authorities will take necessary actions on currencies, Finance Minister Shunichi Suzuki said on Thursday, signaling readiness to intervene in the exchange-rate market after the yen's slide to a fresh 38-year low against the dollar.

The dollar was firm on Wednesday and trading on the precipice of the 160 yen barrier as investors turned cautious and counted down to the release of US price data at the end of the week.

The IDX Composite index fell by 0.09 percent by the end of Tuesday’s trading, mainly due to weakness in seven out of 11 sectors.

Asian equities edged higher Tuesday after recent losses as investors ignored another tough day for tech titans on Wall Street that has raised concerns about a correction in markets following a string of record highs.

The IDX Composite index started the week by rising 0.13 percent, or 9.18 points, to close at 6,889.16, with eight of 11 sectors gaining.

Though cocoa prices on the financial markets have soared, the rise is benefiting cocoa growers, bean processors, speculators and chocolatiers in unequal measure.

The world's number one economy was softening but that was not enough to help push the S&P 500 and Nasdaq to more record highs.

Asian stocks took a breather on Thursday, hovering near their highest in two years as traders waited for more US policy clues, while sterling was steady before a Bank of England meeting where rates are expected to remain unchanged.

The Indonesian currency was trading between Rp 16,300 and Rp 16,400 per United States dollar on Wednesday after hitting a low of Rp 16,419 on Monday, marking its weakest point since April 2020.

Electric vehicle (EV) sales grew by over 109 percent year-on-year in the first five months of this year

A hike in production costs is to be expected in the near future, but firms are unlikely to raise their product prices anytime soon, thereby eating away at their margin in the process.

Asian shares rose to a one-month high on Wednesday, buoyed by a rally in tech stocks, while the dollar was steady as soft US retail sales data reinforced expectations of the Federal Reserve cutting rates later this year.

The Motorcycle Industry Association (AISI) is considering revising this year's sales target if monthly sales drop below 500,000 units. 

The dollar edged higher on Tuesday as traders awaited a key US retail sales report and comments from Federal Reserve officials to better gauge the timing and pace of interest rate cuts.

The supply of goats, sheep and cattle for the festival is projected to drop by between 13 and 17 percent this year from last year’s 2.7 million heads.

The IDX Composite closed this week’s trading by continuing its fall with a 1.42-percent drop on Friday, driven by concerns over the rupiah dropping below Rp 16,400 against the greenback.

The Alliance for American Manufacturing (AAM) on Friday published a report on China's excess industrial capacity that echoes concerns raised by the Biden administration and US allies in recent months, saying quick action was needed to stem a rising tide of cheap and subsidized exports that threatens US jobs.

Asian stocks fell on Friday as investors pondered the outlook for US rates after the Federal Reserve tempered its rate-cut views even as inflation came in softer than expected, while the yen was shaky before the Bank of Japan's policy meeting.

The IDX Composite index ended Thursday trading down 0.27 percent, with PT Telkom Indonesia leading the decline.

The IDX Composite index closed 0.08 percent lower on Wednesday as Morgan Stanley downgraded Indonesia’s stock market rating to "underweight".