Asian markets turned negative Tuesday after their latest rally as high hopes the US Federal Reserve has finished hiking rates gave way to profit-taking.

The rupiah has strengthened against the United States dollar in the past few days, following the US Federal Reserve (Fed) decision to maintain its benchmark rate on Nov. 1, which allows emerging markets including Indonesia to gain traction on capital inflows and for their currencies to appreciate.

Markets rallied again Monday following another strong performance on Wall Street, as below-forecast US jobs data fanned optimism that the Federal Reserve had reached the end of its interest rate hiking cycle.

Analysts say the rise of ESG-focused investment funds and the government's energy transition pledge create upside for renewable energy stocks.

A rising number of local brands are offering beauty and grooming products that cater specifically to the needs of men, with K-pop providing much of the impetus for the change.

The Indonesia Stock Exchange (IDX) Composite continued its rally by 0.55 percent, or 37.46 points, closing at 6,788.85, marking a positive end to this week’s trading.

IDX Composite closed up 1.64 percent on Thursday, driven by global market optimism following the US Fed's decision to maintain interest rates.

Inflation, global sentiment and the Fed's stance have impacted the rupiah market and the IDX Composite.

Most Asian stocks rose Wednesday ahead of an expected pause in the US Federal Reserve's interest rate campaign, while the yen fell from its 2023 highs after Japan's top forex official said authorities were "on standby" to intervene.

IHSG closed higher despite spending the session in the red zone, gaining support from nine sectors.

IDXCarbon recorded a transaction volume of 464,843 tonnes of carbon equivalent worth Rp 29.45 billion since it was launched on September 26 up until October 27.  

The World Bank's latest Commodity Markets Outlook report noted that oil prices have risen only about 6% since the start of the Israel-Hamas war, while prices of agricultural commodities, most metals and other commodities "have barely budged."

Property players have welcomed a new set of government-funded incentives meant to reinvigorate an industry hit first by the pandemic and then by rising interest rates, but whether the sweeteners will help the apartment segment out of the doldrums remains to be seen.

Crude pared Friday's almost three percent gains as Israel's military continued air and ground operations in Gaza, though it took a more cautious approach than feared.

China's latest limit on critical mineral exports, which Beijing said is not targeted at a specific sector, has fuelled uncertainty in the global EV supply chain since it was announced last Friday.

The IHSG closed 0.66 percent higher following a sharp plunge recorded on Thursday caused by improved risk sentiment in the market.

From September 2022 to September 2023, the number of crypto investors grew by some 1.64 million, a 10.1 percent increase, Bappebti said on Thursday.

Asian shares tracked Wall Street futures higher on Friday as Amazon provided some welcome earnings relief, while bonds were able to sustain a rally amid signs US inflation was easing.

The Indonesia Stock Exchange (IDX) Composite index experienced a 1.75 percent decline on Thursday, closing at 6,714.51 with 18.55 billion shares traded.

World stock markets dived Thursday on mounting global worries and with investors on tenterhooks before a European Central Bank interest rate decision and key US data.

The Indonesian Composite Index (IHSG) concluded Wednesday's stock trading session on a positive note, closing at 6,834.388, adding 0.41 percent or 27,626 points.

The IHSG closed higher on Tuesday, after initial projections that the stock index would fluctuate as the market went into a “wait and see” mode.  

Chinese stocks rose in early trade on Wednesday after the country's top parliamentary body approved an additional 1 trillion yuan ($137 billion) sovereign bond issue to support the economy.

Start-ups looking to go public need to show a quick path to profitability and lower their expectations for valuation to attract investor interest, analysts say.

With a 1.57 percent IDX Composite decline on Monday, foreign investors sold Rp 592.81 billion (US$37.81 million) worth of stocks.

The government hopes to boost the property market by covering VAT and administration fees for low-income home buyers.

The dollar softened against a basket of currencies on Tuesday, mirroring a dip in Treasuries yields as investors awaited key US economic data before the Federal Reserve's monetary policy meeting next week.

Euro zone government yields rose sharply on Monday as a sell-off in global bond markets resumed, taking the yield on the global-benchmark 10-year US Treasury note to a 16-year high above 5 percent.

Asian shares slipped on Monday as the risk of a wider conflict in the Middle East clouded sentiment in a week laden with data on US growth and inflation as well as earnings from some of the world's largest tech companies.

Indonesian tire businesses are struggling to maintain their performance amid a persistently weak rupiah and a surge in energy prices partly resulting from conflict in the Middle East.