China stocks and bonds struggled for direction on Monday after the central bank surprised markets by leaving the interest rate unchanged when rolling over maturing medium-term policy loans.

The IDX composite strengthened by 0.29 percent to close at 7,241.13 on Friday after the US published consumer price data for December 2023.

Oil prices surged Friday after US and UK forces launched strikes against Iran-backed Huthi rebels in Yemen following attacks on ships in the Red Sea, fueling worries about a wider conflict in the crude-rich region.

Asian stocks rose on Thursday ahead of US inflation data that could influence the Federal Reserve's thinking on rate cuts, while the crypto world got a boost after exchange-traded funds (ETFs) to track bitcoin were approved in the United States.

The Indonesia Stock Exchange (IDX) Composite rebounded 0.38 percent to 7,227.29 on Wednesday ahead of United States consumer price index data, as the World Bank forecasts slower global growth this year.

IDX Composite plummeted by 1.23 percent to 7,200.20 on Tuesday, with an analyst suggesting that investors consider stocks with strong fundamentals amid a possible market correction.

The IDX Composite index saw an overall declining trend on Monday as it dropped 0.91 percent to close at 7,283.57, after market sentiment responded to a reported surge in Bank Indonesia's December 2023 forex reserves to $146.4 billion.

Bank Indonesia said that December's forex reserves remained sufficient to support 6.5 months of imports and payments of the government's short-term debt.

Asian share markets dawdled on Monday as investors braced for US and Chinese inflation data, along with a corporate reporting season where robust results are needed to justify high stock valuations.

The IDX Composite fell by 0.12 percent to 7,350.61 on Friday. The financial sector led the gains, while the health sector suffered the biggest loss.

US job growth likely moderated in December, while the increase in annual wages probably slowed to below 4 percent for the first time in 2-1/2 years, potentially drawing the Federal Reserve a step closer to start cutting interest rates.

Industry insiders and experts believe commodity prices will continue their downward trend this year from the multiyear highs recorded in 2022 but settle at a higher level than where they were before COVID-19 disrupted markets.

The IDX Composite broke the previous record it booked on the second day of 2024 by closing on Thursday at 7,359.76 points, with only the technology and health sectors showing a dip.

The rate of natural decline in Indonesian oil wells hovered around 1.2 percent in 2023, much lower than the between 6 and 7 percent it had been in past years.

The dollar edged higher on Thursday as investors reassessed their expectations of the scale of rate cuts by the Federal Reserve this year, with an air of caution hanging over markets after an impressive risk rally last month.

Asian markets fell Wednesday in line with a sell-off across most of the world as traders took their cash off the table after a blockbuster end to 2023, with eyes now on the release this week of Federal Reserve minutes and US jobs data.

The Indonesia Stock Exchange (IDX) Composite (IHSG) concluded the first trading session of 2024 on a positive note, gaining 50.79 points, or 0.70 percent, to finish at 7,323.58.

There were also losses in Seoul, Singapore, Taipei and Jakarta, though Sydney and Manila edged up.

Banking, telecommunications and consumer goods are expected to propel the Indonesian bourse to a new all-time high this year, with bullish scenarios forecasting a breakthrough into the 8,000 range.

The dollar looked set on Friday to end 2023 with a loss, reversing two straight years of gains, dragged by market expectations that the US Federal Reserve could begin easing rates as early as next March.

Asian shares touched five-month highs on Thursday as market wagers on ever-more aggressive rate cuts extended a huge rally in US stocks and bonds, but also left plenty of scope for disappointment next year.

Asian stocks crept higher on Tuesday and the dollar lurked near a five-month low as cooling US inflation bolstered bets the Federal Reserve would cut interest rates early next year.

Asian stocks traded tentatively on Tuesday, while the dollar lurked near a five-month low as cooling US inflation bolstered bets the Federal Reserve would cut interest rates soon.

The IDX Composite rose by 0.39 percent to 7,237.52 on Friday ahead of the vice presidential candidate debate, which will focus on the economy.

Asian markets pressed ahead with their rally Friday as another round of US data further stoked expectations that the Federal Reserve will cut interest rates more than it has indicated next year.

The IDX Composite inched 0.14 percent down to 7,209.6 on Thursday after central bankers decided to maintain the benchmark interest rate at 6 percent.

Asian shares fell on Thursday after Wall Street snapped a long winning streak, while Treasury yields were near five-month lows on hopes Britain's notably soft inflation reading would be echoed in looming US price data.

The IDX Composite closed at 7,219.67 with a 0.44 percent gain on Wednesday, driven by positive market sentiment.

The Energy and Mineral Resources Ministry has begun studies to map the potential of rare earth minerals in domestic coal and is also considering other ways to increase the value derived from the commodity beyond its use as a power plant feedstock.

The IDX Composite fell by 0.99 percent to 7,119.52 on Monday. Eight sectors declined as anticipation grows for Bank Indonesia's RDG meeting.