Gold hit a fresh record Monday on growing optimism the Federal Reserve will cut interest rates in the new year, with traders shrugging off boss Jerome Powell's attempts to temper expectations.

Asian stock markets started the last month of the year on a cautious note after recent strong gains, though growing expectations Europe and the US are poised to cut rates should help ease pressure on local currencies and central banks.

The Indonesia Stock Exchange (IDX) Composite (IHSG) rebounded on Thursday, closing up 44.65 points, 0.63 percent, at 7,080.74.

The dollar extended losses Wednesday as traders ramped up bets on the Federal Reserve cutting interest rates in the new year after officials sounded optimistic notes on the battle against inflation.

The IDX Composite rose 0.39 percent to close at 7,041.07 on Tuesday, driven by gains in five sectoral indices.

Asian markets were mixed Tuesday following a tepid performance on Wall Street, with profit-taking tempering hopes for Federal Reserve interest rate cuts next year and traders awaiting key US inflation data due later this week.

Trade Minister Zulkifli Hasan has said Indonesia is close to securing rice shipments from India, despite the partial ban imposed by New Delhi.

The IDX Composite rose 0.05 percent to close at 7,013.41 on Monday, driven by global optimism and increased foreign investment.

Asian markets dipped Monday as investors look ahead to the release this week of key US inflation data that could provide a guide for the Federal Reserve's plans for interest rates going into the new year.

Many businesses in Indonesia remain under family control, but investment bankers say the segment offers ripe pickings for corporate action including initial public offerings (IPOs) once a new mindset – or a new generation – takes hold.

The IDX Composite closed at 7,009.63 on Friday with signs of the market shifting to bonds until 2024.

Most Asian markets fell Friday following a broadly healthy week, with traders hoping for fresh Chinese moves to help the country's troubled property sector after officials called on banks to provide support.

The IHSG surged 1.41 percent, closing at 7,004.34 on Thursday, as the central bank maintained the BI seven-day reverse repo rate at 6 percent.

Asian shares were flat on Thursday with markets holding onto their gains for the week as confidence grows that interest rates globally will head lower next year, while oil prices fell on the prospects for smaller-than-expected output cuts by OPEC+.

Oil extended losses Thursday after OPEC announced the shock delay of a key policy meeting, suggesting fresh upheaval in the bloc, while equities struggled after two US reports dented recent euphoria over the future of interest rates.

The government has opted to extend its in-kind rice aid program to June of next year, but a farmers’ association has warned that the policy could harm the farmgate price of the commodity, negatively affecting domestic producers.

The Indonesia Stock Exchange (IDX) Composite dropped 0.47 percent to 6,961.79 on Tuesday. The market is awaiting third quarter current account data and a Bank Indonesia rate decision.

The government plans to build a sugar factory in the special economic zone (SEZ) of Merauke to boost domestic production.

The Indonesia Stock Exchange (IDX) Composite had a positive start to the week, rising 0.25 percent, or 17.22 points, to close at 6,994.89 on Monday.

Asian stocks mostly rose Monday following small gains on Wall Street as investors grow increasingly optimistic that the Federal Reserve has come to the end of its interest rate hiking cycle.

The Indonesia Stock Exchange (IDX) Composite index rose 0.28 percent on Friday to close out the trading week. 

As of September, the majority of Indonesia’s government debt is dominated by government bonds (SBN) at 88.86 percent.

Asian stocks fell Friday as a rally fueled by the likely end of US interest rate hikes ran out of puff, while Alibaba dragged Hong Kong down after saying it would cancel the planned spinoff of its cloud computing arm.

The index dropped by 0.2 points to 6,958.01 after a three-day rally. Seven sectors declined, led by property and real estate.

The IHSG continues its rally for the third consecutive day, rising past the 6,900 band on Wednesday.

The motivation to export to China's vast population and middle-income group was behind the decision to partake for the sixth time in the China International Import Expo (CIIE), held in Shanghai, which wrapped up last week, Ambassador DJauhari Oratmangun said.

IHSG rose by 0.35 percent to 6,862.05, driven by gains in 10 of 11 sectors, including transportation and health.

The latest data from Gaikindo reveal that this year’s national car sales remain significantly behind the 2022 record, reaching 836,049 as of October.

The IHSG closed Monday's trading session up  0.43 percent or 20.04 points, at 6,838.81, with a total transaction value of Rp 7.28 trillion (US$458.3 million).  

The Japanese yen hit a fresh one-year low against the dollar on Monday, as traders awaited another batch of US inflation data that is expected to offer further clues this week on whether the Federal Reserve has more work to do to tame price pressures.