Asian stocks inched lower on Friday as traders pondered the near-term US monetary policy path after Federal Reserve officials suggested that interest rates may need to stay higher for longer even as inflation shows early signs of easing.

Asian stock markets rallied on Thursday, buoyed by Wall Street's surge to all-time peaks overnight after a milder US inflation report raised expectations the Federal Reserve will deliver at least two rate cuts this year.

Asian markets wobbled Wednesday ahead of key US inflation data later in the day, with traders struggling to pick up the baton after a record performance on Wall Street.

Asian shares hovered around 15-month highs on Tuesday and the dollar was firm ahead of highly anticipated US inflation data, while Japanese bonds were squeezed as the central bank pulled back a little on its bond buying program.

The IDX Composite began the week positively on Monday, ending at 7,099.26, up 10.47 points or 0.15 percent from the previous trading session.

Asian shares crept to 15-month highs on Monday in a week where inflation figures could make or break hopes for earlier US rate cuts, while Chinese activity data will test optimism about a sustained recovery in the world's No. 2 economy.

Asian stocks rose on Friday, on course for a third week of gains, while the dollar was on the back foot as fresh signs of an easing US labor market stoked optimism around interest rate cuts this year ahead of next week's crucial inflation data.

The IDX Composite dipped by 0.17 percent to 7,123.61 following fluctuations on Tuesday while its international counterparts saw more positive trends.

Asian shares made 15-month highs on Tuesday on renewed confidence of US interest rate cuts, while traders waited on a policy meeting in Australia later in the day and had a close eye on a falling yen.

The IDX Composite kicked off the new week with a slight 0.02 percent uptick on Monday, buoyed by Indonesia’s strong economic performance in the early months of 2024.

Most Asian markets rose Monday after data showing fewer US jobs were created last month rekindled optimism interest rates will be cut this year, while mainland Chinese equities bounced on hopes for fresh government economic support.

The IDX Composite closed at 7,134, up by 0.24 percent on Friday, contrasting with most Asian stock markets.

The yen was headed for its best week in more than a year on Friday, helped by Tokyo's suspected intervention this week to pull the Japanese currency away from 34-year lows, which also left the dollar broadly on the back foot.

Asian stocks rallied on Friday after Apple's record $110 billion share buyback plan lifted the tech sector, while the yen put more distance from recent 34-year lows to cap a tumultuous week that saw suspected interventions from Tokyo.

The IDX Composite dropped by 116.77 points, or 1.61 percent, on Thursday to close at 7,117.42 as the Fed delayed an expected interest rate decision.

Asian stocks and US futures rose on Thursday after the Federal Reserve downplayed risks of an interest rate hike, while the yen was bumpy after another burst of suspected intervention from Japan.

Asian stocks inched higher on Tuesday as investors awaited a slew of economic data, corporate earnings and the US Federal Reserve's policy meeting, while the yen was slightly weaker a day after suspected intervention rescued it from 34-year lows.

The IDX Composite closed notably higher on Monday, with a rise of 1.7 percent to 7,155.78, and crossed over the psychological level of 7,100 as investors took a cautious stance.

The government needs to boost its biodiesel subsidy budget 55.5 percent for a total allocation of Rp 28.5 trillion (US$1.75 billion) due to a projected gap in global prices for diesel and biodiesel this year, according to the oil palm funding agency's estimate.

The Japanese yen surged 5 yen against the dollar in Asian trading on Monday, with traders citing heavy dollar-selling intervention by Japanese banks after the currency fell to fresh 34-year lows earlier in the day.

Asian stocks got off to a positive start on Monday ahead of the Federal Reserve's policy meeting later in the week, while the dollar broke past the psychologically key level of 160 yen for the first time in decades.

The IDX Composite closed significantly lower on Friday's trading session, dropping 119.21 points or 1.67 percent to 7,036.07, marking the year’s new low.

Companies in the sectors of property, banking, FMCG as well as pulp and paper often issue dollar bonds.

The majority of sectors were down at the close of trade on Thursday.

Asian stocks fell on Thursday as disappointing earnings forecasts from Facebook parent Meta Platforms hammered tech shares, while the yen's slump past 155 per dollar for the first time since 1990 raised the specter of intervention from Tokyo.

The IDX Composite closed 0.9 percent higher at 7,174.53 on Wednesday, following the official announcement of the president and vice president for the 2024-2029 term and Bank Indonesia’s decision to raise its benchmark interest rate.

The Indonesia Stock Exchange (IDX) Composite closed up 36.99 points, or 0.52 percent, on Tuesday, ending the day’s trading session at 7,110.81.

Asian shares extended gains on Tuesday, taking cues from Wall Street as focus shifts to earnings results from US tech giants in the week, while a still strong dollar pressured the Japanese yen to fresh 34-year lows.

The IDX Composite ended Monday's trading 0.19 percent lower amid rising Iran-Israel tension and speculation swirling around the Fed's potential rate cuts.

State-owned oil and gas company Pertamina said that it is exploring alternative shipping routes and sources for crude oil imports to mitigate a possible disruption in the flow of oil shipping.