Businesses in many parts of the world have become reluctant to raise funds amid aggressive interest rate hikes led by the US Federal Reserve, but analysts say Indonesian companies benefit from a relatively supportive equity capital market.

The dollar wobbled around just below multi-decade peaks on Tuesday, as traders waited on a rate hike from the US Federal Reserve and for any clues about whether hints of a slowing economy will prompt a shift away from its focus on inflation.

Asian stock markets were on course for their best week in months and the dollar held off recent record highs after the European Central Bank (ECB) raised rates for the first time in more than a decade and bets on the size of US rate hikes eased.

Asian investors on Thursday struggled to maintain momentum from the previous day's equity rally and keep up with another Wall Street advance as growth fears continue to haunt trading floors and sap risk sentiment.

Asian shares extended a global rally on Wednesday as strong US corporate earnings and the expected resumption of Russian gas supply to Europe helped lift sentiment and ease fears of a recession, while the dollar was mired near two-week lows.

The euro rallied on Tuesday after a Reuters story that European Central Bank policymakers will discuss whether to raise interest rates by 25 or 50 points at their meeting on Thursday to tame record-high inflation.

The rupee 80.0600 against the greenback soon after trading started, Bloomberg data showed.

MSCI's broadest index of Asia-Pacific shares outside Japan, fell 0.46%, walking back some of the previous day's 1.8% gain, and heading back towards last week's two-year low. 

Most stocks fell Tuesday after a Wall Street sell-off fueled by fresh recession worries following a report that Apple planned to ease back on spending due to uncertainty over the economic outlook.

Indonesia is estimated to require a total of US$4.3 billion to retire 9.2 GW of coal plants by 2030.

It is shaping up to be a fraught week for Europe as it waits anxiously to see if Russia resumes the flow of gas through the Nord Stream 1 pipeline on July 21, while Italy teeters on the brink of political turmoil should Prime Minister Mario Draghi go ahead and resign. 

The decision by the world's biggest palm oil exporter could further depress prices FCPOc3, which have fallen by about 50 percent since late April to their lowest in over a year.

Below-par earnings from Wall Street titans JP Morgan and Morgan Stanley compounded worries that companies' bottom lines would be hit by the economic fallout from a series of issues including rising prices, monetary policy tightening and the war in Ukraine.

Stock prices on Wall Street retreated after a sharp uptick in US inflation to 9.1 percent in June increased the risk of a possible recession. 

The euro clawed its way back slightly after hitting parity with the dollar for the first time in two decades, though it remains under pressure from growing concerns about an energy crisis across the eurozone and the European Central Bank's slower pace of monetary tightening.

Indonesia has chosen to carefully adjust to the global trend of rising fuel prices as it shields its economy from uncontrolled inflation.

The dollar index, a measure against six counterparts, with the euro most heavily weighted, was 0.2 percent higher at 108.43. It had earlier climbed to 108.47, its highest since October 2002.

Indonesia may miss this year’s oil-output target due to project delays, an official at the Upstream Oil and Gas Special Regulatory Taskforce (SKK Migas) said.

Market leading growth stocks pulled all three major US stock indexes into negative territory, with risk-off sentiment exacerbated by Macau's first casino shutdown in over two years to curb the spread of COVID-19. 

Nord Stream I, the biggest single pipeline carrying Russian gas to Germany, starts annual maintenance on Monday. Flows are expected to stop for 10 days, but governments, markets and companies fear the shut-down might be extended due to war in Ukraine and could disrupt plans to fill storage for winter.  

Two multinational companies have expressed interest in investing in the Nusantara capital city project, the government has said, after Japan's Softbank pulled out of the enterprise in March.

An upbeat US June payrolls report already has the market wagering heavily on a hike of 75 basis points from the Federal Reserve this month, and sending bond yields higher. 

Indonesia will need some US$6.9 trillion per year for green infrastructure construction to achieve its 2030 sustainable development targets as stipulated in the Paris Agreement.

Equities were in positive territory the entire session, a rarely upbeat day in a year in which stocks have been dogged by worries over inflation and tightening monetary policy.

The euro was at $1.0262, only a fraction above its overnight low of $1.0236, its weakest since late 2002.

The requirement to drop coal is burdensome for miners as the country has yet to build an adequate electricity grid powered by renewable energy. 

The mood on trading floors has become increasingly gloomy in recent months as observers warn that sharp interest rate hikes aimed at curbing price rises could cause a contraction, compounding uncertainty caused by Russia's war in Ukraine.

Asian shares inched up on Tuesday morning as positive economic data and hints of easing Sino-US tensions offered some respite to the recent sell-offs, though persistent fears about a global recession and sky-high inflation kept most buyers at bay.

Global share markets wavered on Monday as a run of soft US data suggested downside risks for this week's June payrolls report, while the hubbub over possible recession was still driving a relief rally in government bonds.

Indonesia may be unable to meet increasing demand for coal from European countries that are looking to stock up on the dirty fuel source as they reduce energy imports from Russia.